Bob Stephan is among a number of East Valley residents who are downsizing from sprawling suburban homes to move closer to the heart of the area’s biggest cities.
The homes are attracting a variety of people, but the majority of residents fall into categories such as empty-nester, young couple, traveling business person or part-time resident, according to representatives of the communities.
“I am the very first person to live at Tempe Town Lake,” says Stephan, who was on a waiting list to buy a condo on the banks of Tempe Town Lake for eight years before he finally got to move into his new home in May at the Edgewater development.
Edgewater is the eight-story condominium complex being developed at Hayden Ferry Lakeside, the first phase of development that will include a second 12-story tower with 104 more condos.
Stephan moved from a 5,000-square-foot, two-story Tudor-style house in the suburban community of Dobson Ranch in Mesa, where he lived for 27 years with his late wife and four daughters who have since moved out.
Now an empty-nester, Stephan says the high-rise luxury condo lifestyle could not be more perfect for him.
“I love it. I love the view of the lake, the lifestyle, the proximity to the Mill Avenue district and the airport. The condo itself is first class. I think it rivals anything you would find in New York City or San Francisco,” he says.
The move meant considerable downsizing because his new space is a more modern space with less than half as many square feet. Stephan says he held an estate sale and took the opportunity to shop for new furnishings.
“Becoming an empty-nester was something I looked forward to,” he says. “I wanted to start over with fresh new everything.”
It seems as though every other corner in downtown Phoenix or Scottsdale has a tower rising on it, and although the 10 to 12 stories they rise on average is nothing compared with other metropolises, the trend is relatively new in the Valley.
Homeowners have just begun to move in to these lofts and penthouses, so we toured several of the projects to show you some of what makes each development different.
High rise condo living in the Valley
Edgewater at Hayden Ferry:
Located on Rio Salado Parkway overlooking Tempe Town Lake, Edgewater is an eight-story building featuring 40 condominiums with options for traditional or modern features. Amenities include private balconies, pool, spas, fitness center and community and business meeting areas. Prices start in the high $300,000s.
Portland Place:
Located in the Roosevelt Historic District on Portland Street between Central and Third avenues in Phoenix, it has views of the Japanese Friendship Garden of Phoenix from many units. It’s also close to the unfinished Valley Metro Rail system. Amenities include roof deck gardens, a rooftop pool and fitness center.
The development is being done in three phases, with phase one now selling. Prices range from the low $300,000s to more than $1 million. Residences at
Hotel Valley Ho:
Located on Main Street in downtown Scottsdale, the Hotel Valley Ho has been a landmark for years and has just completed a number of residences to cater to people looking to live the dream of 24-hour hotel services at home. Amenities include valet parking, concierge service, spa privileges and privileged seating at places like Trader Vic’s. Prices start in the $700,000s.
By Christina Vanoverbeke, Tribune
