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Old 11-27-2018, 09:15 AM
 
1,609 posts, read 2,015,880 times
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I apologize if this has been brought up already, but I noticed multiple cranes going up downtown. The following article shows the projects. It's about time and I look forward to the finished projects.


https://azbigmedia.com/7-projects-be...ntown-phoenix/
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Old 11-27-2018, 10:37 AM
 
277 posts, read 276,540 times
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Quote:
Originally Posted by timothyaw View Post
I apologize if this has been brought up already, but I noticed multiple cranes going up downtown. The following article shows the projects. It's about time and I look forward to the finished projects.


https://azbigmedia.com/7-projects-be...ntown-phoenix/
What’s wild is go back 10 years and it’s even half the size it is now. It yes assuming it all pans out we have about 12-14 new high rises in the pipeline between 15-35 stories coming
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Old 11-27-2018, 11:06 AM
 
9,196 posts, read 16,647,404 times
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It seems like much of the new residential planned for downtown/midtown are rentals. I wonder why. I'd like to see more condos. We need people buying into downtown, not just living there.
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Old 11-27-2018, 12:16 PM
 
277 posts, read 276,540 times
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Originally Posted by DetroitN8V View Post
It seems like much of the new residential planned for downtown/midtown are rentals. I wonder why. I'd like to see more condos. We need people buying into downtown, not just living there.
Because there isn’t demand for 300-600k condos in downtown but there is demand for 1500-3000k a month apartments
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Old 11-27-2018, 12:20 PM
 
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Originally Posted by Obadno View Post
Because there isn’t demand for 300-600k condos in downtown but there is demand for 1500-3000k a month apartments
You're saying that based on what? Portland On The Park only has I think three units that haven't sold and those are units at or above $1mm.
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Old 11-27-2018, 12:33 PM
 
Location: In the hot spot!
3,941 posts, read 6,727,785 times
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Quote:
Originally Posted by DetroitN8V View Post
It seems like much of the new residential planned for downtown/midtown are rentals. I wonder why. I'd like to see more condos. We need people buying into downtown, not just living there.
Yep.
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Old 11-27-2018, 05:51 PM
 
42 posts, read 48,591 times
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How many of you are going to drop several hundred thousand dollars to live downtown and pay HOA dues of 500-1000 a month on top of your mortgage?
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Old 11-27-2018, 06:12 PM
 
4,624 posts, read 9,279,370 times
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Originally Posted by manchurainprez View Post
How many of you are going to drop several hundred thousand dollars to live downtown and pay HOA dues of 500-1000 a month on top of your mortgage?
I like the idea of urban living, just not in the Phoenix area (and not while I have younger kids). What we have to offer is really in it's infancy and there's not nearly enough downtown at the moment that I'd consider it a legit urban living area. Its heading in that direction however.

The people here that are interested in urban living are by and large younger people who maybe don't have the capital to plunk down a down payment on a condo or maybe don't want to commit to a place and like the ability to move more freely and that is why we see more rentals. The demand for rentals currently far exceeds those that want to own in this product type.
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Old 11-27-2018, 06:16 PM
 
9,196 posts, read 16,647,404 times
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Quote:
Originally Posted by manchurainprez View Post
How many of you are going to drop several hundred thousand dollars to live downtown and pay HOA dues of 500-1000 a month on top of your mortgage?
Once my dog kicks the bucket I’m all over it.
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Old 11-27-2018, 09:14 PM
 
Location: PHX -> ATL
6,311 posts, read 6,819,011 times
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Quote:
Originally Posted by manchurainprez View Post
How many of you are going to drop several hundred thousand dollars to live downtown and pay HOA dues of 500-1000 a month on top of your mortgage?
Raise the supply, and lower the demand.
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