The swank Orpheum Lofts in downtown Phoenix come with lots of extras: thrilling skyscraper views, an Art Deco lobby and a historic address.
Permanent parking? That’s not so clear.
The Orpheum Lofts parking lot is slated to become a 32-story condo project called Omega. The developer who bought the lot says that 90 parking structure spaces will cost loft owners $30,000 each.
The issue has some of the owners, who paid anywhere from about $150,000 to nearly $1 million for their homes, mulling a lawsuit against the Orpheum Lofts’ initial developer, TASB LLC. TASB did not return calls and e-mails for comment.
The dust up reveals that downtown Phoenix’s growth spurt has led to some growing pains. It has also shed light on a little-known zoning rule: Homes in the downtown core don’t have to have parking.
"It’s disappointing to a lot of people," said Ty Brown, a Phoenix mortgage broker who lives in the lofts and who is considering a lawsuit with about two-dozen owners. "They led us to believe that we had parking, and we don’t."
Brown and several other homeowners say they don’t have a problem with Omega developer David Wallach, who has asked them to pay roughly what it costs to build a parking structure space. However, residents say they feel as though the initial developer, TASB, wasn’t upfront about the parking issue.
Like many owners, Bill Jackson and his wife, Verdeen, say the feel like they have no choice but to buy the parking spaces because the units are less valuable without them.
The Jacksons bought two units and combined them into one. They filled their airy, 2,300 square foot loft with high-end touches such as wide-plank hardwood floors and professional-grade kitchen appliances. "Everyone has too much invested not to buy," Bill Jackson said.
With hundreds of condos units being built or planned for downtown, problems are bound to crop up, city officials say.
To date Orpheum Lofts at 144 W. Adams is the only downtown project that doesn’t have parking, John Chan, director of the Downtown Development Office.
Phoenix Mayor Phil Gordon says he would like the city to help loft find special financing or create a special assessment district.
Councilman Michael Johnson, however, says he wants to explore changing the downtown parking rules. "I am also interested in looking a policy for down the road," said Johnson, whose district includes the lofts.
Jahna Berry
The Arizona Republic
May. 2, 2007 12:00 AM
