Gray Development takes step to takeover of CityNorth project Gray recently in July won a $110,000,000 jury verdict against Norteast Phoenix Partners the key developer of CityNorth which is the vision of Thomas Klutznick to create a dynamic urban core for the Desert Ridge area and the North East Valley. The development is home to exceptional restaurants, office space, residents, and office space. It is multi dimensional in scope and has an emphasis on sustainable living. Northeast Phoenix Partners has pledged CityNorth as collateral instead of a cash bond which is typical when appealing a ruling. The transfer of ownership is far from certain since there are numerous legal hurdles that still might result in the verdict being over turned.
City North
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