Friday, August 15, 2008

Century Plaza Condos

Century Plaza is an interesting new hi-rise condo development at the intersection of Osborn & Central Avenue (ZIP code 85012), and there's a lot for sale there. Pricing goes from the high $200,000's to $1.5 million, see more info on this below.

Originally built in 1974 as an office tower, it was completely gutted and rebuilt starting in 2006 by Equus Development Corporation (dba Windsor Century Plaza, LLC). The Century Plaza site offers condos from 734 to 2,911 square feet with current asking prices starting in the high $200's and going up to over a million.

The views are stunning and one reason for that is that setback regulations in the 1970's allowed buildings much closer to Central Avenue than today's setbacks allow. The effect from the upper floors is almost like you're floating above Central Avenue!

The Osborn light rail stop is literally outside the lobby doors and with the light rail scheduled to begin regular operations this December, residents will have easy access to downtown & Tempe.

Each condo has 11 foot ceilings, 8 foot doors, a shaded balcony off the living room and master bedroom. The site boasts private covered parking, secure key-card access, concierge service, a 24/7 clubhouse and fitness center and a unique Car Share program for urbanite owners who want to use a car once in a while but not foot the maintenance and storage costs. Upscale retail shops were built into the ground floor. (I'm not sure the Car Share program is up and running yet. Phoenicians are pretty addicted to our cars, so it'll be really interesting to see how this idea takes off.)

After many construction delays, the tower is finally complete. The builder's reps are still onsite, selling never lived in units. List prices currently start at $291,000 for a 3rd floor, extra large 1 bedroom. Expect to drop at least a cool million for 1600 or 1700 square feet on the upper floors. The current high list price is $1,449,000 for 1700+ square feet with a panoramic view from the 16th floor.

Think urban loft living is right for you? Contact me for a private tour, or just for more information. Just want to see downtown hi-rise condos on an MLS search? Email or call and I'll setup a custom search for you which will email you whenever anything that suits your needs hits the market. or 602.999.8831

This is probably an appropriate spot to remind readers that you absolutely need a Realtor to represent you when you buy from a builder! The builder has sales reps onsite who are lovely, helpful and charming people. They will tell you they'll "make sure you get what you ask for" but the builder's sales reps work for the builder. Their job is to sell inventory and they have no obligation to protect your interests.

A colleague of mine tells a story of working with a buyer who bought a condo from a builder. The buyer intended to work from home and needed a condo with quiet neighbors. The builder's rep assured the buyer the condo was quiet as far as she knew. The buyer's own Realtor visited the condo one weekday about 10am, only to hear a trumpet being practiced (loudly!) next door. Turns out the neighbor played for the Phoenix Symphony and practiced at home daily. The builder's salesperson never mentioned that to the buyer.  The builder's rep actually didn't do anything wrong - she had no obligation to disclose the noisy neighbor because her duties were to sell condos for the builder. She had no duty to protect the buyer's interests.

Had that buyer used the builder's Realtor instead of hiring his own...... hmmmm. Earplugs, anyone?

Related Post - 2 Downtown Landmark Hi-Rises Having Trouble