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Downtown Phoenix - Revitalization in Progress!

If you haven't been to downtown Phoenix lately, be prepared for the changes!

The Light Rail is both on-time and on-budget, although its construction is causing some traffic flow problems in the downtown area. It is scheduled to open in December of 2008, which will allow for residents in Glendale, Mesa and Tempe to easily commute to downtown Phoenix or other cities on the rail.

Along the Light Rail route, many condominium projects are under way. They vary from condo conversions, to small, intimate buildings, to 30+ story high-rises. The buildings offer different home styles - town homes, lofts, and traditional 'flat' layouts. These homes for the most part run from the high $200,000s for studios or 1 bedrooms, to well over $1M for penthouse units. Each building offers different amenities, but your larger buildings aim to provide it ALL - concierge services, on-site spas, grocery stores, and more - so you essentially never have to leave your building!

There are also a lot of "infill" projects; infills are new construction on lots in an existing community - literally, "filling in" the empty lots. If you prefer to be emerged in a neighborhood that has history and character, this may be what you are looking for! Because infills are typically on smaller lots, there are a number of town home and loft infill projects with as few as 4 homes, making it much easier to get to know your neighbors and feel like part of the community.

This fall, ASU's Downtown Campus welcomed its first students. They are expanding their downtown campus, and offer many extra-curricular programs that embrace the culture and opportunities only found in a downtown setting.

While some businesses are negatively impacted by the Light Rail Construction, they understand it is simply "growing pains" of a city coming into its' own.

Within the next five years, downtown Phoenix will be a completely different city. The urban living and entertainment it had been so sorely lacking will be in place, along with efficient public transportation. Businesses and restaurants will extend their hours to accommodate downtown residents. With a strong urban core in place, more businesses will move in to the area, and can recruit new graduates from ASU Downtown. Overall, we're shaping up to be quite the metropolitan city!

Sharon Kotula, ABR
Adam Tarr, e-PRO
Your Phoenix Area Real Estate Source
RE/MAX Excalibur
Scottsdale, AZ
480-483-3333
info@WeAreAZRealEstate.com
www.WeAreAZRealEstate.com

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