From 2004-2006, a number of conventional home builders decided to enter into the urban residential market. Sotelo was to be Dallas based Trammel Crow's entry into Phoenix / Tempe urban living. The Sotelo concept was good with great style and design, a decent location in north Tempe at College and Curry, across the street from the 1200 acre Papago Park and a short bike ride from Mill Avenue, a great clubhouse, fitness center, heated pool and spa, and underground parking. Unfortunately timing was bad with construction beginning in 2006, pretty much the start of our real estate melt down. After completing only two of the planned four buildings, Trammel Crow defaulted on its $38.8M construction loan with Fremont Investment and Loan and everything came to a screeching halt.
In 2009 iStar Financial out of Los Angeles bought the note from Fremont, ultimately acquired Sotelo itself and are now renting the condominiums out as apartments.
Interior finishes include granite slab counter tops in kitchen, bath, and bath/shower surrounds. All new appliances, wood cabinetry in kitchen and bath. Upgrades include two-tone paint, porcelain tile, top of the line carpet, and stainless appliances.
Contact the agents at We Know Urban Realty for more information or to view these condos.
If you would like to learn more, see floor plans or a site map, or tour the site, give us a call or shoot us an e-mail and we'll take care of you.