April 28, 2011 – 12:58 pm
The condo market has definitely picked up some steam coming into 2011. While foreclosures and short sales continue to make up over 2/3 of the sales, “re-newed” condo sales are steady to strong in some buildings. Over the last year and a half, numerous fractured condo projects changed hands, relieving most debt and introduced new [...]
August 26, 2009 – 11:12 pm
Late last week, a Denver based real estate investor purchased the remaining 64 unsold condominiums in Hayden Ferry Lakeside’s Bridgeview tower for $20.3 million. Suncor, master developer of the mixed-use complex has been hit very hard by the economy and unfortunately had to let go of their gemstone development, in addition to a reduction of [...]
April 18, 2009 – 12:05 pm
The last year has been a rough time for most in real estate, but especially everyone tied to the Centerpoint Project in Tempe. From the lender, Mortgages Limited Securities going bankrupt and their CEO committing suicide, to the teasing near completion of the soon to be iconic towers of Centerpoint Condominiums. People have been waiting [...]
January 13, 2009 – 3:00 pm
For namesake, we wont discuss the actual W Hotel name in this blog, because they are merely the operator of the building, and do not own any part of the land or major stake with the contractors. Nearly 30 liens have been placed on the property (W Hotel) since its September debut and the threat [...]
January 12, 2009 – 8:15 pm
I know the focus of this blog is to discuss urban condominiums in the Phoenix market, but since the majority of news is dismal these days, I figured this story from Las Vegas might be of interest. Over the last several years, MGM Grand has been developing CityCenter, a massive $9 billion mixed-use “mini city” [...]
January 4, 2009 – 8:52 pm
What started as a normal resident opposition to denser or unwanted development has dramatically shifted and is now a highly crucial legal battle that could change the zoning power for the City Councils of Phoenix, Mesa and Tucson. Headed by Randy Jones, a resident of Laveen, is a group of Phoenix residents opposing a dense [...]
January 1, 2009 – 12:22 pm
Just as the Light Rail is opening, which whizzes by both sides of the Cityscape development in downtown Phoenix, comes some unfortunate, but not surprising news. The three block complex was originally planned to consist of luxury condominiums and apartments, two boutique hotels, office and retail space. The developers have announced the project is scaling [...]
December 31, 2008 – 6:25 pm
One of the remaining large vacant parcels within reasonable boundaries on the northwest corner of Scottsdale Rd and Lincoln Dr will possibly house two hotels, over a hundred condominiums and townhomes, luxury single-family homes and retail space. Five Star Development, a local Scottsdale developer has been pitching a Ritz-Carlton Resort and Residences for nearly a [...]
December 23, 2008 – 6:43 am
In spite of a year-long recession, major budget cuts and layoffs at municipalities, a few developments are coming to fruition. South Shore, a mixed-use project was recently approved by the Chandler City Council, a slowly growing trend for the suburb. Scottsdale-based Nautica Development Group is excited to bring what many are calling Chandlers own “Kierland Commons.” [...]
December 16, 2008 – 3:20 pm
Centerpoint Condo Towers have been untouched for over six months now and were pretty much forced to file for bankruptcy, a growing trend among developers. Technically, the development company itself didn’t file for bankruptcy in this case, as they created a separate LLC for the project. After battling in court with the troubled lender Mortgages [...]
