Author: Lyle Plocher
Lyle is the Designated Broker at Urban Connection Realty, specializing in "urban" Phoenix real estate, including the historic neighborhoods, lofts, condos and small creative use commercial buildings. Lyle has been in Arizona off and on since 1984, with the most recent stint starting in 2004, hanging out in and promoting Downtown Phoenix. Lyle can be reached at lyle@phoenixdowntownjournal.com or at 602.373.3725.
CityScape Gets Some Skin
As you can see from the construction photo, crews are starting to add exterior glass walls to the steel framed structure of the 600,000 sq ft Class A, first tower at CityScape. This tower will be home to a couple of Legal Firms, Squire, Sanders & Dempsey as well as Ballard Spahr Andrews & Ingersoll. Additionally, the Anchor tenant, Wachovia/Wells Fargo is still on board. Also, in this tower will be a Gold’s Gym and a steakhouse, operated by Fox Restaurant Concepts. Retail tenants who have committed to go into the CityScape project on the block previously occupied by Patriot’s Square Park include AJ’s Fine Foods, Urban Outfitters and it’s rumored that CVS Pharmacy will commit, which would give Downtown Phoenix it’s first Drug Store. At least 4 other Tenants are expected to be announced in the next 30 days according to a reliable source.
A Way Cool Home Tour This Weekend
Downtown & Central Phoenix has a wide variety of housing stock, from 1920’s Bungalows to 50’s ranches to modern loft & condo complexes. This weekend, Phoenix area residents will have the opportunity to tour restored mid-century modern homes during the Founding Fathers of Modern Phoenix Home Tour, sponsored by Matthew & Alison King, the founders of modernphoenix.net. The Tour is part of a larger event called Modern Phoenix Week 2009, which includes workshops, lectures & films and runs from Friday, April 3rd thru Sunday, April 5th.
Slick Orpheum Loft at Bargain Basement Price
Things are heating up in the Downtown Phoenix real estate market. This is especially true when it comes to Bank Owned properties. Buyers are coming back into the market to take advantage of the good deals. Actually, so much so, that many properties are attracting “multiple offers”. If you are in a position to buy, don’t wait for the market to hit bottom, because in some segments of the market, I believe we have hit bottom.
Encanto-Palmcroft Home Tour This Weekend
The Encanto-Palmcroft neighborhood, with all of it’s old world charm and palm-tree lined streets, will be putting on their bi-annual Home Tour & Street Festival on Sunday, March 29th from 10 AM to 4 PM. The majority of the estate-like homes in this neighborhood were built in the 1920’s and 30’s, including Spanish Colonial homes and Tudor Revivals alhtough there are also a few classic Red Brick Ranch homes from the 50’s. Past neighbors of note in the Encanto-Palmcroft neighborhood have included US Supreme Court Justice, William Renquist, former Phoenix Suns star Alvan Adams, former Phoenix Mayor John Driggs and many more.
City Assisting Residents Buying Foreclosed Homes
The City of Phoenix is receiving nearly $40 Million from the Federal Government in Neighborhood Stabilization Funds, which it will be using to help Phoenix residents buy “Bank owned” homes within the city limits. Approved applicants will receive $15,000 to go toward their down payment and closing costs. You do not have to be a first-time homebuyer to participate in the program, but the property you buy does have to be your primary residence.
Need Creative Space? Like Historic Buildings?
Join other small businesses in this very cool spot, actually being deemed the Creative Spot. Built in1926 as one of the first downtown Phoenix grocery stores, the JB Bayless building has been painstakingly restored by its long-time owner, Joseph Lewis, earning National Historic accreditation. Wood beam trusses, stained concrete floors, concrete pillars, and red brick construction within soaring, 15-foot ceilings create the surrounds. And wide panels that slide on tracks create the private, highly modular environment you desire to explore your creative options!
Want To Office In The Warehouse District?
If your company is looking for a creative office space with dramatic visual appeal, you may want to check out this recently renovated, 3,000 sq ft stand alone building in the Downtown Phoenix Warehouse District, aka SoDo. The space features the original wood bowed-string trusses with 18 ft ceilings, stained conrete floors, custom designed restrooms, gated, private parking for 15 cars and on-site video cameras.
Check out Hollywood Regency this First Friday
You can check out this quality outlet for all things vintage during normal operating hours on Wednesday thru Sunday or you can stop by on First Fridays, when the Hollywood Regency and it’s neighbors in the Wagon Wheel Building at 7th Ave & Montecito, turn host to belly dancers, flame throwers and a drum circle. I’m told the activities go on until Midnight sometimes.
Melrose on 7th Street Fair
The 8th Annual Melrose on 7th Ave Street Fair is upon us. Happening this coming Saturday, March 7th, the streets on 7th Ave will be blocked off from Indian School Rd to Campbell and you and your loved ones will be able to stroll freely up and down 7th Ave, checking out all the arts & crafts vendors, the very popular Vintage Car Show, featuring as many as 150 cars and trucks and pop in all of the store front businesses lining both sides of 7th Ave.
First-time Homebuyers:Feeling Stimulated Yet?
One of the components of the recently passed Stimulus Bill which probably contains the most significant potential to impact an individual person or couple, is the $8,000 Federal Tax Credit available to First-time homebuyers. This Tax Credit is available to anyone who does not currently own a home or who has not owned a home during the last 3 years. The Credit is a direct reduction of a person’s Tax liability and can even result in a Tax Refund if your Tax liability for the year is less than the amount of the Credit.
