Is anyone gonna buy one of those condo's downtown? (Phoenix: real estate, apartment complex)

[AZtarheel]

There are plenty of people living in downtown Phoenix all ready and more will soon join us as there are several more projects like the Summit and 44 Monroe that are going to be completing construction over the next 6 to 10 months.

Most of the projects that have been built sold all or most before they were completed.

I live in the Oprheum lofts and we have not had a problem with the heat of the summer, we have air Conditioning in Phoenix!! it would be hard to live here in the summer with out it, thought people did it for many years.

The Orpheum Lofts is an excellent place to live. A beautiful building, completed very well done, close to everything.

Everyone I know loves living there and loves living downtown.

[joninaz]

It depends on where you work. If your job is downtown and you can afford it, why not?

As someone who works from home, however, commute isn't an issue for me. Thus if I was in the market for higher end condo, it would be a toss up... Tempe's got some interesting projects, as does Scottsdale - both in already developed entertainment districts. Downtown PHX is moving in the right direction, though I gotta say I'd also be keeping my eye out on things just North along central... from the farmers market, library, Durants, Lux/Pane Bianco, George/Dragon - up to Camelback - these will all be on the light rail and could create a nice column of interesting retail/dining/housing developments... almost like a long, thin downtown rather than one central cluster.

[sheena]

Originally Posted by AZtarheel

There are plenty of people living in downtown Phoenix all ready and more will soon join us as there are several more projects like the Summit and 44 Monroe that are going to be completing construction over the next 6 to 10 months.

Most of the projects that have been built sold all or most before they were completed.

I live in the Oprheum lofts and we have not had a problem with the heat of the summer, we have air Conditioning in Phoenix!! it would be hard to live here in the summer with out it, thought people did it for many years.

The Orpheum Lofts is an excellent place to live. A beautiful building, completed very well done, close to everything.

Everyone I know loves living there and loves living downtown.

The Az Republic says nobody is buying them. Maybe they are still too expensive.


Downtown condo craze cooling off (broken link)

[exit2lef]

Originally Posted by sheena

The Az Republic says nobody is buying them. Maybe they are still too expensive.


Downtown condo craze cooling off (broken link)

Yes, but there's good news in that article. Some of the slow-selling condo projects are becoming apartments instead. That will allow quality Downtown housing to be available to a broader population of people who actually work Downtown. People who work for government agencies and Downtown cultural organizations would be perfect candidates for Downtown living, but many of them can't afford high-end condos. When I first moved to Phoenix I could not have afforded a luxury condo, but I would have gladly lived in a high-rise apartment if one had been available.

[HX_Guy]

Originally Posted by MotleyCrew

A couple in our neighborhood is buying one. I would rather have a little backyard to putz in than all that concrete. Where would you go for a walk?

Wait, are you saying that now, you go for a walk in your backyard? It must be a huge yard.

Seriously though, you probably go walking around the block...and downtown, you would do the same, and probably run into a few more people then you do in the suburbs.

Personally, I work from home and the majority of my clients are within 5 miles from me, all the way in NW Phoenix, so it wouldn't make any sense for me to live downtown, but if I could, I would actually like to. There aren't many amenities it's true, but what amenities do I have in the suburbs? I have to get in the car to do ANYTHING. In downtown, there are at least a few places I could walk to to grab a bite to eat, or maybe see a movie. Things look to be improving as well...there will be more restaurants, more retail, and finally a grocery store.

[Bummer]

Originally Posted by sheena

The Az Republic says nobody is buying them. Maybe they are still too expensive.

LOL . . . that could have something to do with it!

[sheena]

Originally Posted by silverbear

Yes, but there's good news in that article. Some of the slow-selling condo projects are becoming apartments instead. That will allow quality Downtown housing to be available to a broader population of people who actually work Downtown. People who work for government agencies and Downtown cultural organizations would be perfect candidates for Downtown living, but many of them can't afford high-end condos. When I first moved to Phoenix I could not have afforded a luxury condo, but I would have gladly lived in a high-rise apartment if one had been available.

Good news for people yes but If I had bought one I might not be so excited about that news.

[joninaz]

Originally Posted by sheena

Good news for people yes but If I had bought one I might not be so excited about that news.

It's better they become apartments for the time being. It's a rough real estate market so the builder gets some income in the meantime. Once it becomes more cost effective to run them as condos, the owner will do so. In fact it can be a blessing. There are a lot of projects that haven't broke ground and that might not due to the downturn in sales. Who wants to own an unfinshed condo in a building that has yet to have walls?

I'd guess that these aren't $400 month apratments either. More upscale. And I'd guess there's a good number of bankers, lawyers, etc. who need to work in downtown, regardless of the hip factor.

[Lee151]

A good friend of mine sold his house in the burbs and bought a loft condo downtown. He loves it.

[sheena]

Originally Posted by Lee151

A good friend of mine sold his house in the burbs and bought a loft condo downtown. He loves it.

Yeah a friend of mine's parents sold their house in Ocotillo and bought one of those condo's downtown and they love it too. I guess her dad works downtown and can walk.