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01/20/07
U.S. home construction climbed in December
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:25 pm

WASHINGTON - The pace of U.S. home construction climbed 4.5 percent in December, a second-straight monthly increase that ran contrary to analyst expectations.

 

But for all of 2006 the rate of new home building posted the biggest decline in 15 years, a government report on Thursday showed.  More…

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Construction still hot in East Valley
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:21 pm

Drivers will see a continued flurry of activity at major local intersections in the coming year, as millions of square feet of office, industrial and retail projects rise from the ground.

And, industry observers say, many of the hottest development areas to watch in 2007 are in the East ValleyMore…

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Hotel-condo project planned for downtown Scottsdale
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:18 pm

A six-story luxury hotel and more than 200 condos, some of them going for more than $1 million, would be built in downtown Scottsdale, according to plans a development group plans to submit to the city Monday.

The unnamed project would be built on 10.37 acres southeast of the Arizona Canal and northeast of Camelback and Scottsdale roads along a nearly half-mile stretch of aging apartments on 73rd Street.   More…

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Despite building boom, W. Valley feels cooldown
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:14 pm

The West Valley’s housing market followed a Valley-wide slowing trend in 2006, with homeowners worrying about slipping values and sellers struggling to stay afloat in a sea of listings.

The sluggish market was good news for buyers, as sellers reduced prices and agreed to pay closing costs in a bid to lure customers.  More…

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Buckeye residents fuming over unfinished subdivision
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:10 pm

When Trina Stark bought her home in downtown Buckeye, she never imagined the purchase would also bring a battle.

Or that she would get caught in the middle of unfinished business between town officials and the developer, the Creative Classics Co.  More…

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Office rents in parts of Phoenix top $40/sq. foot
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:06 pm

Some office buildings at the corner of Camelback and 24th Street are commanding rents of more than $40 per square foot, rivaling the going rates of better-known office addresses in Chicago and Newport Beach, Calif.

New tenants are finding those top-tier rents at the Camelback Esplanade, at 2425 and 2525 E. Camelback Road, and the 11-story Hines office project under development just west of the upscale corner.  More…

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Chandler to get 1 of nation’s first Element hotels
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:03 pm

A new Element hotel will be built as part of the Chandler Piazza mixed-used development just east of Chandler Fashion Center, on the southeast corner of Frye Road and Ellis Street.

The Element, a luxury extended-stay hotel and a Westin brand, will be the first one in metro Phoenix and one of the first 10 in the nation, said Haydn Kramer, vice president of business development for North Carolina-based Concord Hospitality.  More…

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Chic, modern Mondrian almost ready for its debut
Filed under: General, Real Estate
Posted by: Lillian Wong @ 3:00 pm

After months of heavy-duty renovation, Mondrian Scottsdale will soon pull back the white drapes and fling open the glass doors for the grand opening of its stylized Garden of Eden.

Although the hotel never really closed, it has been hiding behind tarps and construction equipment since August. Morgans Hotel Group, a New York chain credited with pioneering the boutique hotel concept, bought the property formerly known as the James in downtown Scottsdale in May.   More…

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Camelback building sells for $75 mil
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:57 pm

Camelback keeps drawing in investors ready to plunk down multimillions for a piece of the Valley’s premier office corridor.

The latest building sale closed this week for $75.62 million, or $325 a square foot. The property is the nine-story Camelback Center at 2355 E. Camelback Road, which is tucked behind several office and condo high-rises.  More…

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Chandler considering 44% hike in home fees
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:52 pm

CHANDLER - The price of a new house in Chandler could go up by several thousands of dollars in July even though the once-hot real estate market has cooled.

The city is considering a 44 percent increase in development fees, charges levied on construction to pay for growth-related services. If it’s approved, the $19,538-per house fee would be one of the Valley’s highest and considerably more than those charged in neighboring Gilbert, Mesa, Queen Creek and Tempe.   More…

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SE Valley home sales down, but prices up
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:17 pm

Although the number of existing homes sold last year fell from the previous year throughout the southeast Valley, prices ranged from 8.5 percent higher in Ahwatukee Foothills to 14 percent higher in Tempe.

Prices have been falling in recent months, however, according to the newly renamed Realty Studies center at Arizona State University. It previously was called the Arizona Real Estate Center.  More…

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Home sales tumble; Scottsdale price up
Filed under: General, Real Estate
Posted by: Lillian Wong @ 2:12 pm

Sales of existing homes in Scottsdale dropped 40 percent in 2006 from the previous year, while the median price edged up 13.3 percent, to $595,000.

The year-end figures released Wednesday by the office of Realty Studies at Arizona State University show that Scottsdale accounted for 7.7 percent of the Valley’s 67,035 sales of existing homes.  More…

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