Re "So how is it more economical?"
Let's say you put a 20A 80% breaker on each available leg.
Case 1) 120/240 single phase, 3-wire (L1, L2, N):
120v x 80% x 20a x 2 hots = 3840va
3840va / 3 wires = max 1280va delivered per installed wire
Case 2) 208Y/120 three-phase, 4-wire (L1, L2, L3, N):
120v x 80% x 20a x 3 hots = 5760va
5760 / 4 wires = max 1440va delivered per installed wire
3-phase power can deliver more power per pound of installed copper, making 3-phase more economical. Think of the neutral wire as not "doing much" (keep in mind the neutral current is zero when perfectly balanced) -- so increasing the ratio of hot wires to neutral wires will increase the cost efficiency. 120/240 1ph is more economical than 120v 1ph; 208Y/120 3ph is more economical than 120/240 1ph.
Re "120/208 v 4w 3p can be utilized as the main riser??...."
In a high-rise, quite possibly not. Depends on just how high you're rising. In a very tall building, you'd most likely go with a medium-voltage riser with 120v transformers every few floors. In a mid-rise, you might use a 480-volt riser. In a 4-story high rise, maybe you could get away with a 120v riser. You need to review voltage drop and estimated cost of the various distribution systems to make that choice.
2. Main source?? & 3. $/kw - installation cost and even space??
Not quite sure what you're getting at here....
In my experience, 230v motors are quite commonly run on a 208v without any problem at all. Also, keep in mind there are usually very few motors running above 120v in most high-rise condos (perhaps an air conditioner fan, usually not much more than that). Fans don't have very high starting torque requirements (compared to, say, pumps). You could also bump up the secondary tap on your 208 transformer to perhaps 213v, that's well within the 230 x 90% = 207v minimum voltage requirement of a 230v motor. If you're really worried about motor life though, then just make sure your AC units are specified with 208v or 208-230/460v motors.