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The new urban lifestyle in Phoenix, AZ. encompasses more today than just lofts and the typical valley condominium. Those seeking an alternative can choose from high rise condos, mid rise condos, town homes, brownstones and row houses. Condos offer you an alternative lifestyle for many individuals especially those who prefer to be independent and have their own place to call home that is affordable and at the same time more convenient that buying a conventional home. This type of living quarters appeals mostly to single young professionals as well as small families. Condo living offers a different type of lifestyle and living conditions for people. It is cheaper than having your own property and build your own home from the ground up. Condo units also offer a host of amenities like guarded parking space, 24 hour security, swimming pool, clubhouse etc. that you won’t enjoy unless you own a condo unit of your own.
There are many types of condominiums available out there. Each type can satisfy the different needs of different individuals. There is what is known as a condominium apartment and there are those also known as condominium townhouses which might have slight differences with each other save for their structure type and ownership regulations. There is also another type known as freehold townhouses that you might want to check out. Whatever type you might prefer, you must bear in mind that condo living will be a lot more different than the traditional home environment that you might be accustomed to.
Condo living is so much different from owning or renting a single dwelling home or apartment. This is because of the dual nature that comes with every condo unit ownership. Condominium owners hold ownership over their respective units but each one sharing responsibility over the operating costs and maintenance of the shared elements in the property such as lobbies, passageways, elevators etc. that are essential parts of a condominium complex. By choosing to live in a condominium, you are choosing to live within a community of other condo unit owners who become your instant neighbors. Each condominium complex is a community in itself and each owner accepts and follows the standard rules and regulations unique to condo living.
If you think that condo living might be difficult, wait until you see the advantages that come with choosing to live in your own condo unit. First of all, a condo unit is less expensive than owning a single detached dwelling which may take you years to save for before owning it. If you want to have your own place to live in immediately, then owning a condo unit might be the best option for you to take. With living in your own condo unit, you might also be able to enjoy the amenities and shared facilities like the pool, clubhouse, and weight room that are usually part of most condominium complexes. In a condominium complex, you also become part of a unique community where you are an integral part in the whole decision making process.
But then again, there are also some things that you should also know about condo living. Depending on each condo complex, there might be some restrictions being followed such as on owning pets, or having outdoor barbecues. Each condo unit owners are also requested to follow some rules of conduct on common areas such as passageways and lobbies. In a sense, a condo unit owner might not be as free in his own “home” because he also has to respect the rights of his “neighbors” living just a wall apart. That is the challenge that condo living carries with it. It will depend on the person if he will be able to come to grips with it.
Glen Creno in the Arizona Republic...
Chicago-area developer Optima Inc. has launched two major projects in metro Phoenix. The Optima Biltmore Towers has sold out its two buildings though construction isn't done. The company now is marketing the 11-building Optima Camelview Village, near Scottsdale Road and Highland Avenue. In an interview with The Arizona Republic, Optima's founder, architect David Hovey, discusses the area's growing condominium scene.
Q: Why is there so much interest suddenly in building condos and lofts in metro Phoenix?
A: Infill condominium development close to downtown locations provide an attractive alternate lifestyle to other housing types such as single family. This is especially true if they are in areas of great shopping, restaurants, and other cultural activities that provide vitality without long commuting.
Q: What parts of the metro area will have the big concentrations of these projects?
A: Areas that provide the amenities (with a) walk-to relationship to condo living.
Q: Is this condo boom just a fad, or are there enough buyers to sustain it?
A: Condominiums will always be attractive to young professionals and empty nesters, who make up a large segment of the housing market, as long as the location is right.
Q: What is the future of the 24th Street and Camelback Road area where a development team including Donald Trump and Westcor want to build higher? Will there eventually be high-rise buildings there and east along Camelback?
A: High-rise buildings east and west of 24th along Camelback would increase all property values in the surrounding areas by solidifying the economic base and provide a landscape architectural identity of commercial activity along Camelback. It is up to the community to determine an appropriate height, which is probably higher than some single-family residents would like to see and lower than that proposed by some developers.
Q: So many of these condo projects are selling units that cost hundreds of thousands of dollars. With the Phoenix area facing a crunch of affordable housing, how can these condos be offered at more affordable prices?
A: Developers should provide a wide range of sizes and prices to accommodate the entire market. This could mean a few more units, but in buildings that are actually smaller in size and mass.
Q: Will the Phoenix area always be dominated by single-family homes, or will condos and lofts become a significant part of the business?
A: Condos will become a substantial component of all housing because it is a simpler, more efficient, more economical way to live.
Q: Do you expect more builders of single-family homes to jump into infill sites with multifamily projects in the Phoenix area?
A: No. Everyone has a niche. Builders of single-family homes have a totally different kind of expertise that does not necessarily translate into multifamily.
Proximity to transportation corridors, urban centers, and local attractions draw land-loving young professionals to high-density loft-style condominiums. If you're looking for a condo with a twist, a loft may be just the home for you. Lofts vary in price depending on the city, units in the Chicago area start around $200k for 800 square feet and top $1 million for 2,500 square feet. A true loft is a conversion of a vintage factory or warehouse, having a harder edge of concrete construction, or "mill" construction of exposed brick and original wood posts, beams and floors. Ceilings should be over ten feet high at least. This is increasingly very important for loft purchasers, as developers are now building condos with slightly higher ceilings than in the past. It is the height that helps give a loft the feeling of air and space. Larger windows and open concept layouts also help. Ceilings are unfinished and pipes and heating ducts are exposed. Do not expect to find a 1,000 square foot loft divided up into two bedrooms and a den. It will more likely have a kitchen and a bathroom with the rest of the space left as one large open room, which you can work with and use according to your own functions and needs. Some people think a loft means you have a second mezzanine level overlooking the floor below, but that is simply one style of loft. Beware of another type of loft -- the newly constructed loft (or "soft lofts"), which are "Condos with high ceilings", and are just Chicago condo developers trying to cash in on the popularity of lofts. They are still great units, just not "true" lofts. Less traditional lofts have a kitchen and living room on the lower floor and an open second floor for bedrooms. Chicago, Houston, New York, San Francisco, and Tampa have strong loft markets. The public seemingly cannot get enough . “Atlanta’s loft supply and demand has increased so much that there’s a separate listing for lofts in the newspaper.”