We hope you have a great 4th of July celebrating our nation’s birth. Let us never forget the brave souls that fought and served for the pride and peace of our nation.
We hope you have a great 4th of July celebrating our nation’s birth. Let us never forget the brave souls that fought and served for the pride and peace of our nation.
As you will read, there are new developments that are happening in Scottsdale and Tempe. Some developments are set to begin this coming new year, and some have already begun. We are here to keep you updated in what is going on in the Phoenix Metro area.
Alta Paradise Ridge broke ground in November. It will be a 278-unit luxury apartment development in the southwest corner of Mayo Boulevard and 68th street in Phoenix. The project is expected to be completed in the third quarter of 2015.
Monti's La Casa Vieja on the southwest corner of Mill Avenue and Rio Salado Parkway closed its doors. In its place is planned Mill & Rio Salado, a 280,000 square foot Class A office and a 274-key hotel, which is expected to break ground in mid-2015. There will also be 17,000 square feet of complementary restaurants and retail space.
The Enclave at Borgata is a new luxury condominium community planned at the site of the old Borgata near the southwest corner of Scottsdale road and Lincoln. Pre-sales are expected to begin in early 2015
Construction is being completed on the final phase of Sage Development near Scottsdale and Chaparral roads along the Canal, with 72 new condo units becoming available.
Hayden Flour Mill at the corner of Mill Avenue and Rio Salado Parkway is a project that is in the works. According to current plans, they will preserve the existing grain elevator and four-story building, adapting it to a new use, including a boutique hotel converting the multi-story office building into retail and restaurant use with outdoor dining and a new stage and amphitheater.
A 43-acre business park east of Tempe Marketplace at 2100 Rio Salado Parkway, at the 101 and 202, is in the works with construction on infrastructure already underway. The proposed first phase includes 24 acres of an office complex, restaurants, bars, retail and two four-story hotels, a Hilton Garden Inn and a Homewood Suites.
SkySong, the ASU Scottsdale Innovation Center, is opening a third building at its location at the corner of Scottsdale and McDowell roads. ASU is the largest tenant and Ticketmaster LLC is the second largest.
Construction started in November on a 27-townhouse development called Aerium in downtown Scottsdale at Goldwater Boulevard and 70th street. The development is Landmark Homes, the project is expected to be completed in Spring of 2015.
Also in November, developers began work on Silverleaf, upscale condos in north Scottsdale at DC Ranch near Pima Road and Thompson Peak Parkway. The complex will have robotic valet and private elevators. There will be 213 units priced $1 million and up.
A giant crane towers over the massive construction site for the final phases of the Scottsdale Waterfront in downtown Scottsdale. Alliance Residential Co. is progressing ahead of schedule on Broadstone Waterfront, a 259-unit apartment complex with restaurant and retail space along Marshall Way.
It also is ahead of schedule on Broadstone Lincoln, a 264-unit apartment complex northwest of Scottsdale Road and Lincoln Drive. Scottsdale is leading the Valley in apartment development, said Tom Simplot, president/CEO of the Arizona Multihousing Association. He also serves on the Phoenix City Council. “We know the marketplace was looking for that because occupancy rates in Scottsdale are practically at full-occupancy levels,” he said. “And it also reflects the fact that Scottsdale is maturing as a community, so if you look closely you see that several of those are infill projects, several of those are redevelopment projects, and again that development reflects what the market is looking for.”
Since 2011, the City Council has approved more than 4,600 apartment units in complexes throughout the city, including nearly 650 units this year. Currently, there are seven apartment projects under construction. Among Valley cities and towns, only Phoenix rivals Scottsdale in terms of apartment construction. For the 12 months ending May 31, Phoenix issued building permits for 2,107 apartment units and that number was expected to reach 2,299 by June 31, up from 1,684 for the same period in 2011-12, according to its Planning and Development Department.
Apartment development has been a source of controversy in Scottsdale as the number of proposals escalated after the recession. City Councilman Guy Phillips has repeatedly voiced his concern that Scottsdale is going to end up with more apartments than tenants, and more apartment units than single-family homes. However, developers say more people are choosing to rent and there currently are not enough units to meet that demand. “Attitudes changed through the recession,” Simplot said. “People were burned financially by being homeowners, so the notion of the American dream has changed a little bit, which has expanded the market for rentals. We like to say renting is the new buying.”
Demand for apartments in the Valley will remain strong this year along with brisk employment gains and rising incomes, according to the latest report from Marcus & Millichap. Apartment vacancy is tightest in south Scottsdale, dropping to 4.2 percent in the last 12 months. Randy Grant, the city’s planning, neighborhood and transportation administrator, said the city’s role isn’t deciding if there’s too much of any one type of development.
First on market
New apartment complexes will begin delivering units to the Scottsdale market in late summer. Developers are confident leasing will be fast and furious for the first units. At the end of August, Alliance Residential’s Broadstone Lincoln will have 57 units ready for occupancy. The entire complex will be completed by January. The complex’s proximity to Paradise Valley and “resort-style living” will attract tenants, said Jim Donaldson, project manager. Next will be SkySong Apartments, a 325-unit complex at SkySong, the Arizona State University Scottsdale Innovation Center. “The first phase is 74 apartments and we open Oct. 7, said Don Couvillion, vice president of real estate for the ASU Foundation. “The next 80 units will be in about December, followed by February and then April. We have four phases of approximately 80 units each.” At Broadstone Waterfront, the first 65 units will be ready for occupancy in April of next year, said Mike D’Andrea, project managerand chairman of the Scottsdale Planning Commission. Broadstone Waterfront will be completed in December 2014. “It’s a very desirable area and rental has not been an option,” he said.
Portales Residential, a 369-unit complex near Scottsdale and Chaparral roads, is in “full-blown construction” said Kevin Ransil, Arizona partner for JLB Partners, the developer. The project is being built in one phase with completion slated for January-February 2015. Ransil said there’s strong demand for apartments in the downtown area to complement the shopping, dining and nightlife experiences in the area. Most construction is taking place in south and central Scottsdale, but north Scottsdale is now seeing its share with multiple complexes coming out of the ground.
Jefferson at One Scottsdale, at Thompson Peak Parkway and Scottsdale Road, is under construction. It should be ready before the end of the year. Greystar and TDI are the developers. Construction there began in January, with 388 units in 21 two- and three-story buildings.Three major employers, Discount Tire, Scottsdale Healthcare Thompson Peak Hospital, and Henkel North America, are nearby.
A few miles south of there, Glimcher is preparing to start construction on its project at Scottsdale Quarter, at Scottsdale Road and Greenway-Hayden Loop. Crescent Communities is working with Glimcher on the project, which is expected to include 275 units. Construction is scheduled to start by the end of the year and be completed in early 2015. In addition, construction has begun on Live North Scottsdale, formerly the Residences at Zocallo Place, a 240-unit complex northwest of Greenway-Hayden Loop and 73rd Street. Plinth Venture LLC is building the complex.
Most complexes approved by the city aren’t yet under construction, such as Mark-Taylor’s complex adjacent to SkySong, developer Shawn Yari’s Industry East and Industry West downtown, Chason Development’s Las Aguas on McDowell Road and Wood Partners’ Alta Scottsdale at Indian School and Granite Reef roads.
Source: AZ Central
Old Town is the historic sector of the downtown Scottsdale area that strives to preserve the city’s rich western heritage. Rustic traditions are alive and kicking in Old Town where you’ll find wooden sidewalks and hitching posts in front of upscale boutique shops.
We live and work in Old Town and are in love with the lifestyle. While the area certainly holds a strong attraction for tourists, it is also a great community to reside in. The major benefit for us is that everything we want to do is within walking or biking distance. We can literally skateboard to work and often do. Biking to the local farmer’s market on our beach cruisers is a favorite weekend ritual.
We find that many of our younger buyers looking to purchase a condo in downtown Scottsdale or Old Town are looking for the same amenities and conveniences that we are. Generation Y or millennial buyers are, for the most part, urban-dwelling walkers and cyclists who crave an active lifestyle with easy access to shops, cafes and restaurants. They don’t want to spend the weekend cutting grass when they could be snowboarding in the mountains. Perhaps most importantly, the millennial market is adverse to anything resembling a long commute Our buyers don’t want to drive into the city; they want to be part of the city.
The condo market in and around Old Town offers residents all of these conveniences and more plus the peace of mind that comes with living in one of the safest cities in America. There is a very strong sense of community in Old Town that thrives due, in part, to the fact that people don’t commute to suburban homes at night and dim the business lights. They are out and about in the restaurants, cafes and bars located in the same neighborhood they live in. The lifestyle serves to strengthen community bonds.
There is a man named Dan Semenchuk who is an ad salesman for the Scottsdale Downtown Map & Directory. Everyone knows him as “Downtown Dan” and he is a well-known local advocate and expert on Old Town. He conducts walking tours of the neighborhood, offers consulting services for prospective business operators and has done more than anyone else to raise awareness of Old Town’s many attributes as an all-around great place to live.
Homebuyers in the Scottsdale and Phoenix areas need to be aware of a number of programs offering down payment and closing cost assistance. The availability of these programs coupled with slowly rising interest rates make this a perfect time for buyers in Maricopa County to enter the market.
Home in Five Advantage Mortgage Origination Program:
A long list of lenders are already participating in this program which is jointly sponsored by the Industrial Development Authorities of the City of Phoenix and County of Maricopa. Under the terms of Home in Five, qualified borrowers can obtain 30-year fixed rate FHA and VA mortgage loans through the participating lenders. These loans traditionally allow for smaller down payments. More significantly, the program includes a 5% non-repayable grant to assist buyers with the down payment and closing costs.
The Home in Five program is available to eligible borrowers purchasing homes and condos in Maricopa County up to a maximum purchase price of $300,000. For income limitations and other eligibility requirements, buyers should visit www.mcida.com.
BBVA Compass Bank Buyer Programs:
We have also seen several very attractive incentive programs available through BBVA Compass Bank. Homebuyers working with a Compass Bank mortgage specialist will have access to traditional FHA and VA loans as well as special programs for first-time homebuyers, The programs offer incentives such as a three month deferral of principal and interest, low down payments and waivers of loan origination fees and requirements for private mortgage insurance (PMI).
Compass also offers a unique program called “Everyday Heroes”. This program features very low down payments, PMI waivers and relaxed borrower qualification rules and targets teachers, public safety employees, healthcare workers and military personnel. We believe this is a great way to say “thanks” to these everyday heroes.
Foreign National Buyers:
There is also good news for foreign national buyers looking to invest in real estate in the U.S. Many foreign investors have traditionally chosen Arizona for their U.S. vacation and investment properties. Recent changes in the law have opened the doors to the foreign investor market so that anyone with a sufficient down payment and income can borrow to purchase a U.S. Home.
Government and lender sponsored programs have helped many homebuyers enter the market and buy the home of their dreams. The incentives are constantly evolving so it’s important to stay informed and up-to-date. Programs offering down payment and closing cost assistance are not always available. So, if you are planning to purchase a home in Scottsdale or Phoenix in 2014, congratulate yourself on your excellent timing!
When we are not busy working or taking advantage of everything that our neighborhood in Scottsdale has to offer, we both love to travel. Last summer, we enjoyed a lengthy sojourn in Europe that began at Lake Como in Italy, took us to the French Riviera and Monte Carlo, on to Edinburgh, Scotland for a visit with friends and finally a return flight from Switzerland. It was a great trip that we will not soon forget.
Our most memorable travel experience to date is undoubtedly a trip to Thailand that we took in 2011. The Thai people are incredibly beautiful and their kindness and hospitality made a lasting impression on us. For those contemplating a trip to Thailand, or Southeast Asia in general, here are a few travel tips we picked up along the way.
Finally, do not leave Thailand without enjoying a luxurious massage on a beautiful beach. For just a few dollars, you'll have an experience you'll never forget.
Are you looking for a house in Scottsdale, Arizona and deciding between buying or renting a residence? It can be a bit difficult decision to take for anyone in similar situation. There are two different lists of benefits for both options, which totally depend on the lifestyle that currently you are having. The four reasons, which make buying the house a better option over renting are – sense of ownership, equity, future, stability!
These four reasons are sufficient enough to let you know benefits of one of the most important investment you are going to make in your entire life.
Completely owning something delivers a wonderful feeling of satisfaction. Ownership is like an accomplishment that gives a great feeling, as you don’t need to pay the rent every month, you can do anything you like including decoration, renovation, remodel and pretty much everything you’d love to. Your home will be an investment that you will surely get back… more than you ever expected!
When you buy a property, you get considerable equity. Only 5 to 10% of down payment will provide you complete ownership of that property. With time, you keep on making payments and the mortgage will decrease, the property value increases. The mortgage amount is equal to the rent that you will have to pay if you choose to rent a home. The best thing about equity is like you are investing your money in a bank.
When you live in a rental home, it directly affects your stability. You have to move from one house to another, if you are unable to pay the rent, your landlord don’t like your lifestyle, the house is not up to your expectations. The worst part about renting a home is that you have to live according to the protocols set by the property owner.
After you pay off the whole mortgage amount, you are free of all this. Now you can save that mortgage money that will dramatically increases your disposable income. You’ll have assets which you can pass on to your next generation and live your life freely as a proud owner.
There is nothing wrong with renting a house in Scottsdale, but if you are planning to settle down with your family, then purchasing a home is a wise decision. If you are new to the city and don’t know much about the properties in Scottsdale, then you should take help of experienced real estate agents who are trustworthy and will get you the best price for your dream home.
Sightseeing, walking around the museums or any other particular location in a new nation or a city might be the pointers topping the to-do-list when going on a vacation. If you are planning to spend your vacations in Scottsdale, you would be happy to know that the catalog is packed up with events that would definitely make your stay in the nation worth staying.
Whether you are an art lover, music enthusiast or want to treat your taste buds with delicacies, Scottsdale is a place to be. Check out what the city holds in its kitty for those looking forward to stopover.
America’s Unique ArtWalk
Book your Thursday evenings for the Scottsdale artwalk which is a 30 year old tradition capturing the main street and Marshall Way in Downtown Scottsdale. The gallery doors are open to anyone showcasing some of the exceptional work of Southwest’s outstanding artists. Imagine how wonderful your evening would be to stroll around the street that would be a home to dramatic statues, fine dining restaurants with a musical backdrop. To make your evenings more dramatic, ride on at the horse-drawn carriage.
Food Truck Convoy
A blend of street food, melodious music and art is what makes the food truck convoy. Be a part of the vibrant nightlife bringing together some of the scrumptious delicacies packed up with local music and diverse art forms. If you and your friends head out to party, make reservations at the caravan and have a memorable evening.
Chihuly in the Garden
You will be amazingly surprised at the work of the renowned artist Dale Chihuly who plays with bright colors and shapes. This stunning exhibition is a mix of art and revolutionary ideas at Desert Botanical Garden. Witness how glass is given the shape of art and infused with colors that would take you to another world. Be lucky to witness the work of an artist who is internationally renowned with his work in over 200 museums worldwide including the Metropolitan Museum of Art, the Smithsonian American Art Museum and the Corning Museum of Glass.
Local American Dancing
Tap your steps with the national American dancers showcasing their culture and tribal dance forms. One of the most eminent and famous dance is hoop dancing, known as the “dance of life.”
Be a part of the most enthralling events and plan your vacations in Scottsdale to be a part of it!
Having a luxurious condo at Camelview is almost everyone’s dream. There must be hundreds of envisioned pictures of how would your home would be. What if you actually get to live at a place that is very near to your imaginary paradise? Optima Camelview Village condominiums aka The Southwest’s most livable city gives you a chance to enliven your dream.
A perfect blend of vibrant backdrop to architectural splendor and polished urban living, these condominiums have it all and makes it the most preferred and exclusive place to reside. The first look of the house itself will make you fall for it. The blossoming private terraces reaching out to the gardened rooftops to the floor-to-ceiling glass walls that would bring in nature to your house with the view of mountains in the day and stars filled skies at the night.
The heart of the dynamic village holds in it the classy leisure and relaxation prospects of the resorts. Ideal for your evening leisurely strolls, the place shares its neighborhood with shopping centers, entertainment and cultural venues and lot more. Optima Camelview Village condominiums are a great place to live at beholding architecture, ambiance and restaurants that are second to none.
The seven level buildings bring you to landscaped courtyards. Each unit ranging from 800 square feet to 3000 square feet gives a picture perfect city view. The comfort of the condominiums lies in the nine-foot tall ceilings, gourmet kitchens with granite countertops and designer or modular appliances. Throwing a party means home with each having media room and unique spaces for personalization. The nature lovers would love to have an abode that has a green roof contributing to the air quality.
A few steps away from your condominiums and you will be welcomed to a new world of enjoyment with an indoor swimming pool, racquetball and basketball courts, a fitness center with separate workout centers. If you think, this is an end to the comfort, hold on because there is more to it. Rejuvenate yourself at the spa and sauna facilities with locker rooms along with small shops then enjoy a cup of coffee, wine, lunch or dinner at Metropolis bistro, Nourish and Posh.
Live in luxury and pride at Optima Camelview Village condominiums!
The US has always topped the charts of the best and sought after nation to reside at, Scottsdale, Arizona being one of its best places. The pleasant weather throughout the year along with top notch education and health care amenities, works to enhance the quality of life.
A perfect abode for nature lovers, the countryside backdrop works to leave one awe-struck. Scottsdale being the center of flourishing Chamber of Commerce together with the thriving tourist industry makes many budding entrepreneurs to consider it rewarding enough to settle. Be it any month or season of the year, the place is seen flooded with tourists who wish to experience the perfect blend of cultural and sports bustles.
With everything worth splurging at in one place, you might find yourself in a fix on where to go. Scottsdale is separated in four areas with each one having something for the tourists. If you want to experience the nightlife and art, South Scottsdale is your destination. The foodies can find solace in Downtown Scottsdale with some of the happening bars, nightclubs, restaurants and art galleries. Central Scottsdale on the other hand shares its neighborhood with the prominent Shea corridor and Paradise Valley that are home to some of the famous celebrities. Then, comes North Scottsdale aka “The golfing paradise of the US” offering outstanding academic courses and PGA tournaments running throughout the year.
If you think natural greenery is what Scottsdale is blessed with, get ready to get pleasantly surprised. It is home to numerous golf courses, each of different yards beholding numerous exciting challenges each year. What might make you fall in love with the place is the natural view of the deserts and mountains from the course.
If entertainment is the only part you think Scottsdale has, it would surprise you to know that it offers quality and valuable health care systems. Hospitals are equipped with unparalleled treatment equipments and facilities. Also, Scottsdale is home to the reputed skin cancer institute.
Something that adds worth to its value is the presence of museums, libraries and art galleries. Scottsdale is home to celebrated and bussing artists who are part of the performing arts community that showcase numerous art shows and performances.
If you are seeking to have a property at a place that is hub to entertainment, scenic beauty and exotic location, Scottsdale is a place to be!