Archive for August 27th, 2008

AZ Central – Horton opens Desert Ridge models

D.R. Horton Co. has opened three model homes in northeast Phoenix’s Desert Ridge neighborhood, the first models to open in the area since Pulte/Del Webb’s Fireside at Desert Ridge first went on sale more than a year ago.

The Horton development, Cielo at Desert Ridge, will eventually have more than 500 single-family homes on 189 acres at the southwestern corner of Pinnacle Peak Road and Tatum Boulevard.

The opening begins another chapter in the development of Desert Ridge, which centers on the Desert Ridge Marketplace at Tatum and Loop 101. The area has been slow to develop, a pace that has not been helped by the recent economic slowdown Horton held its property for more than four years before building and opening models. Other large parcels have been vacant for more than three years.

Now under construction are CityNorth, Toscana of Desert Ridge and Bella Monte, all featuring condominiums along Deer Valley Road and 56th Street, and the Fireside development, south of Deer Valley at 40th Street.

At Cielo at Desert Ridge, models of the Manhattan, the Prato and the Torino have opened.

The Manhattan, with two double garages, is the largest of the three, at 3,554 square feet. Its top price is $541,700, including a casita and a fifth bedroom.

The Prato is the smallest, with three bedrooms, a library and 2,230 square feet. It is the only single-story home among the models. Its top price is $441,200.

The Torino, at 3,207 square feet, has five bedrooms plus a loft and a game room. It runs close to $475,000.

From the upper floors at either two-story model, a visitor can look out over the property, which runs between 40th and Tatum on the southern side of Pinnacle Peak. Piestewa Peak marks the horizon.

Tom Davis at D.R. Horton, the developer, said the Desert Ridge site “is spectacular.”

Cielo, when complete, will have more than 500 single-family homes ranging as high as $1 million. It will be built in phases.

Four desert washes run through the property, providing open space, and homes along those washes will cost extra.

The development is bordered by existing housing on the south and west.

The desert to the north is vacant, as is the southeastern corner of Pinnacle Peak and Tatum. It is situated a mile north of Desert Ridge Marketplace and less than a mile from area schools.

If you are looking for a home in the Desert Ridge area click here:

www.theholmgroupaz.com

 

 

AZ Central – Developer, Orpheum residents trade ire

The residents at an upscale downtown Phoenix loft project were booted from the building’s parking lot this weekend, days after some condo owners accused the parking lot’s owner of “wrongdoing” in court papers.

On Friday, signs appeared in the Orpheum Lofts that said “due to an insurance issue” residents could no longer park in the next-door parking lot. On Monday, any remaining cars were towed, residents said.

This week, several residents at 144 W. Adams St. scrambled to find a new home for their cars.

Noah Lewkowitz usually takes a bus to his job at a Tempe architecture firm, but is driving to work this week because he has no place to park.

“It was nice to have my car right below my window where I can see it,” said Lewkowitz who rents a one-bedroom apartment. Residents will have to pay $40 to $80 a month to park in nearby garages, he said.

It’s the latest flashpoint in a long-simmering parking dispute at the Orpheum Lofts, where condo owners have paid anywhere from about $150,000 to nearly $1 million for their homes. Buyers purchased units in the refurbished Art Deco building and parking was included, residents say. The lofts’ developer, however, sold the lot to W Developments.

W plans to build condos on the parking-lot property but has allowed owners to park for free on the lot for a year and a half, said the company’s principal, David Wallach.

When the condos are built, each owner may have to pay more than $30,000 for a space in the high-rise’s parking garage.

The Omega condo project could break ground as early as next year, Wallach said.

In January, owners of 11 condos filed a lawsuit against the lofts’ original developer, TASB, the marketing company and W Developments.

A Maricopa County Superior Court judge dismissed W Developments from the lawsuit.

Last week, the plaintiffs’ filed new court papers accusing W Development of “wrongful conduct related to the acquisition” of the lot.

Those court papers changed things, Wallach said. That’s when he decided not to let residents park there anymore, he said.

“The lawsuit that was pending hadn’t bothered me,” Wallach said, who said he has a “strong relationship” with the Orpheum condo owners.

The allegations then weren’t as severe as they are now, he added.

“Then, as of last week, some people asserted, because they had no other claims, that I somehow did something wrong,” Wallach said.

Since there is no clear legal relationship between Wallach and the loft owners, Wallach said, he could be held responsible if, for example, someone were injured in the parking lot.

“Will those people then assert that my parking lot wasn’t maintained properly, if they are going to accuse me of something else?” Wallach asked. “So at some point you say, that’s not worth the risk, right?”

The parking issue casts a financial shadow over the Orpheum Lofts, one resident said.

“In this economy, there are other people who are upside down on their mortgages already,” said George Reitmeir, a condo owner who is a plaintiff in the court case. “And you want to add $30,000 to $40,000 (for a parking space) on top of that?”

 

If you are looking for a loft click here:

www.theholmgroupaz.com


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