Believe it or not a developer is looking to move forward with construction of another high rise condo community in the Valley.
WestStone Communities recently announced the opening of its “virtual sales office” (meaning everything will be computer generated “virtual” photos and videos) to promote its proposed Onyx Tower.
Plans for Onyx Tower call for a 22 story building located at the north east corner of Scottsdale Road and the north shore of Tempe Town Lake with 196 luxury condominiums ranging from 711 to 2364 squre feet.
The question of course will be what kind of sales to expect with approximately 350 condos still for sale at Center Point, approximately 80 condos (both resale and new) at Bridgeview and Edgewater at Hayden Ferry, and approximately 20 condos for sale next door at North Shore.
Of course this glut of inventory is only temporary (in our opinion). Tempe Town Lake and the Mill Avenue District are destined for hot-ness (thanks Paris) with the light rail, a useable body of water, the new Tempe Center for the Arts, ASU, and all the great architecture in the area. We are definitely fans of Tempe. We just question the timing of launching a new high rise condo tower. Stay tuned….
