Downtown Tempe Lofts & Condos

SIX THINGS TO THINK ABOUT WHEN GOING CONDO
July 1, 2008

Whether you are looking for a second home, downsizing, or just a first time home buyer, condominiums and lofts are a fantastic choice.  Obviously, there are many lifestyle choices when choosing a home, but condominium living has much to offer.  Here are six things to consider before you go condo:

1 •  Lifestyle / Location
No doubt lifestyle and location are the biggest factors in condo ownership.  Resort style living has some great perks.  Lately, hotel like services are becoming more typical and are designed to make an owner feel as though they are on permenant vacation.  Also, most of the urban choices offered are located in the heart of the city and are usually within walking distance to numerous restaurants, shops, light rail, business centers, and the airport.  That's a good thing since living in a condo offers the opportunity for an owner to "lock and leave" without the worry found with a single family residence.
Condo living also means you will be part of a community that is usually much more tightly knit than a suburban subdivision.  Neighbors to the left, right, above and below may take some getting used to, but for most, the sense of camaraderie is well worth it.

2 •  Amenities
They are getting more elaborate: Meeting rooms with video hook-ups and wi-fi, rooftop pools and spas, large patios, real work out rooms, club houses and lounge/party rooms, and concierge services that arrange for everything from dry cleaning to Jet-Ski rentals.  Hayden Ferry Lakeside is equiped with a 10 seat theater.  But some of these amenities come with a price.  "What amenities do you want?  What amenities can you live without? asked real estate broker Tom Tokoph.  He lives and works in the Lofts at Orchidhouse in downtown Tempe, which has no extras.  He doesn't mind paying for a gym membership instead of having a gym in his building.  Things like that keep his home owners association fees low.  A 1 bedroom condo at the Orchidhouse with no amenities has an HOA fee of $285 per month whereas a one bedroom at Hayden Ferry Lakeside can be $800 per month.  The buyer really has to consider what amenities they will use on a regular basis.

3 •  Space and Storage
Condos come in all sizes, but cost per square foot is higher than for single family homes, so you'll pay more to spread out.
You can't be a clutter collector, Tokoph said, and think twice if you need to store ATV's, personal watercraft, kayaks and so on.  Most condos will charge extra for storage- if they even offer it. Otherwise, nearby storage facilites start at around $35 per month.  A small price to pay to have access to your large "toys".
Then again, a well-designed space with built in wardrobe closets and desks can feel roomier. "Nine hundred square feet of space in one unit and 900 square feet in another unit can feel completely different" said David Wallach of W Development.  You really have to watch out for wasted space.

4 •  Parking
Typically a 1 bedroom condo will come with 1 parking space, a 2 bedroom with 2 parking spaces and so on.  But don't be surprised to pay $30,000 extra for a parking space if needed at a high-rise.  And if you like to host parties, inspect the amount of guest parking space provided.  You may want to switch to more intimate dinners.  Also, look for available nearby street side parking or public garages and find out the cost.

5 •  Noise
Living in a downtown unit will naturally be noisier than in a sleepy suburb, but it is not like apartment living.  Today's newly built high-rises tend to be sturdier and more soundproof, thanks to acoustical studies.
If noise is an issue for you, open the windows to get a sense of the outside world noise.  Then close them again and see if the noise level is livable.  Tokoph, for one, loves it, particularly when he can see and hear fireworks over Tempe Town Lake or listen to the music playing at the Tempe Arts Festivals.  "If you open the windows, it's like we have a band in our house", he said.  "For the times when you need absolute silence, or if you are more sensitive to it earplugs are always a good option."

6 •  Investment
In general, condos do not appreciate as fast as single family homes, according to research by Arizona State University.  There are exceptions, but make sure to look into the number of units available in a given building and the prices.  More units on the market can mean lower prices and not as fast an appreciation.  However, that can be the best time to buy, Tokoph said, if you're in it for the long term.

(Adapted from Arizona Republic's "Vertical Space" by Geri Koeppel)

Lofts at Orchidhouse: New to market!

Check out this new loft available for sale at the Lofts at Orchidhouse:

CLICK HERE FOR MANY MORE PHOTOS & MORE INFO: ORCHIDHOUSE LOFT TEMPE CONDO

Live in the heart of Downtown Tempe in this beautiful, 5th Floor loft at the Orchidhouse.  Stunning 11 foot ceilings, large, operable windows, beautiful Northern views, and warm wood flooring makes this loft an amazing place for anyone to call home.  Zoned "live/work" for those entrepreneurs looking for a hip and modern space.  Although the loft is currently a 1 bedroom, 1 bathroom it is easily transformed into a 2 bedroom.  The Orchidhouse Lofts are walking distance to Mill Avenue`s shops and restaurants, the future light rail system, ASU, and everything else downtown Tempe has to offer!  Offered at $479,900

Contact your Downtown Living, Lofts & Condos Realtor, Tom Tokoph, for more information on this property or other Downtown Lofts & Condominiums.  Created by city people for city people, urban living is not only our specialty, it's our passion! We live, work & play in the heart of Downtown Tempe, Arizona & we look forward to sharing that passion with you:  "Life Is In The Heart Of The City!"

Tom Tokoph

Urban Realty & Development

602-549-9000

www.UrbanRealtyAZ.com

ORCHIDHOUSE LOFT FOR RENT

2 Bedroom, 1.5 bathroom loft for rent in the heart of Downtown Tempe.  This loft includes 11 foot ceilings, exposed ductwork and large, operable windows with great city views from the 5th floor.

Offered for rent at $1,995 / month, Available August 1st, 2008

For more information on this loft or other Downtown Tempe Lofts, Condos or other Lofts at the Orchidhouse, and other real estate for sale or for rent, please contact:

Tom Tokoph

Urban Realty & Development

602-549-9000

Urban Realty specializes in the Downtown Tempe Lofts, Townhomes, & Condos market. Please give us a call so we can show you that "Life is in the heart of the city"!

www.UrbanRealtyAZ.com

Why live in Downtown Tempe?

There are so many reasons to make Downtown Tempe the place you Live, Work & Play!  We’ve created this video to present only a few. For much more, contact Urban Realty & Development.  Created by city people for city people, urban living is not only our specialty, it’s our passion!  We live, work & play in the heart of Downtown Tempe and we look forward to sharing that passion with you.

Urban Realty & Development is ready to show you that “Life is in the heart of the city!”

Click here to view Video: Downtown Tempe Condo and Loft Lifestyle Video

Would you like to live or work in Downtown Tempe?  Call an Urban Real Estate Broker who actually lives & works in Downtown Tempe!

Feel free to contact us at our live/work loft in downtown Tempe.

www.UrbanRealtyAZ.com

Tom Tokoph

Urban Living Broker

602-549-9000

Equal Housing Opportunity

CHIPOTLE COMING TO MILL AVENUE

June 2, 2008

Chipotle, the slick, quick organic mexican food joint that has been sweeping the nation for the last few years is finally coming to Mill Avenue.  Located at the corner of 11th Street and Mill Avenue, it won't exactly be in the heart of the downtown, but that is ok.  It is still "walkable" from most downtown residences and it will have ample parking for those who don't want to walk.  (For Tempe residents, the new Chipotle space used to be the Brueggers Bagels.)  This is another fantastic restaurant addition for the Mill Avenue District and I'm sure it will be very successful!


Chipotle under construction on Mill Avenue

UPDATE:  CHIPOTLE ON MILL SHOULD BE OPEN BY OCTOBER 2008!

Would you like to live or work in Downtown Tempe?  Call an Urban Real Estate Broker who actually lives & works in Downtown Tempe!

Feel free to contact us at our live/work loft in downtown Tempe.
Urban Realty would love an opportunity to share with you what we know about urban living and help you find your own "life in the heart of the city!"
Tom Tokoph
Urban Living Broker
602-549-9000

Equal Housing Opportunity

FEATURED PROPERTY FOR RENT: The Lofts at Orchidhouse Live/Work Property 

May 14, 2008

Coming this Fall, downtown Tempe condo residents will be in "7th Heaven"- literally.  That is, once the new "7th Heaven" Deli, breakfast, and Eatery opens it's doors on Mill Avenue.  Not only will we have a great sandwich spot on Mill Avenue, but we will also have a place for breakfast once again. This is really good news for the "waffles for dinner" types too, since they serve breakfast all day!

7th Heaven Eatery Coming Soon Banner on Mill Avenue

Would you like to live or work in Downtown Tempe?  Call an Urban Real Estate Broker who actually lives & works in Downtown Tempe!

Feel free to contact us at our live/work loft in downtown Tempe.
Urban Realty would love an opportunity to share with you what we know about urban living and help you find your own "life in the heart of the city!"

Tom Tokoph
Urban Living Broker
602-549-9000

Equal Housing Opportunity

May 12, 2008

The City of Tempe consistently exhibits why their downtown is the best urban living location in the Valley of the Sun.  By simply manipulating an alley way behind the downtown Post Office, they have created additional retail space which will soon become a boutique convenience store.  The space, which up until recently was just the "back end" of the post office, will now be "re-used" into another great service business for downtown Tempe condo residents.  Look for more "alley conversions" in downtown Tempe as land becomes more and more scarce and adaptive re-uses are a success.

*BLOG UPDATED HERE*

Downtown Tempe Alley Conversion

Convenience Store service coming soon for downtown Tempe condo residents

Would you like to live or work in Downtown Tempe?  Call an Urban Real Estate Broker who actually lives & works in Downtown Tempe!   Call us at our live/work loft in downtown Tempe. Urban Realty would love an opportunity to share with you what we know about urban living and help you find your own fresh start!

Tom Tokoph
Urban Living Broker
602-549-9000

UrbanRealtyAZ.com

Equal Housing Opportunity

ALOFT STARTS CONSTRUCTION IN DOWNTOWN TEMPE

The hip, younger brother to the Starwood W Hotel brand is starting to evolve on the northshore of Tempe Town Lake in downtown Tempe. For those not aware of the "aloft" hotel concept, this blurb was taken directly from a Starwood press release, "Infused with the DNA of W Hotels, aloft is a new destination sensation featuring loft-inspired design, accessible technology and a stylish urban attitude. Starwood anticipates the first aloft hotels to open in 2008, with 500 properties worldwide expected by 2012."

Planned for completion in April/May of 2009, we are sure this hotel lobby, lounge and bar will be the buzz of Tempe!  That is, until the next hot spot opens.  With the huge growth in Downtown Tempe (Lumina, etc.) we know that won't take very long!


ALOFT UNDER CONSTRUCTION NEAR TEMPE TOWN LAKE

RENDERING OF ALOFT AT TEMPE TOWN LAKE

Would you like to live or work in Downtown Tempe?  Call an Urban Real Estate Broker who actually lives & works in Downtown Tempe!   Call us at our live/work loft in downtown Tempe. Urban Realty would love an opportunity to share with you what we know about urban living and help you find your own fresh start!

Tom Tokoph
Urban Living Broker
602-549-9000

UrbanRealtyAZ.com

Equal Housing Opportunity

May 6, 2008

As a downtown Tempe resident, I can't help but be excited about the new CVS Pharmacy currently under construction at the corner of University & Mill Avenue in downtown Tempe.  Every day I see the property I smile at the thought of walking to the corner for the little things that don't require a full blown trip to the grocery store.  I smile because I know what a convenience it will be for me to walk just a couple short blocks down Mill Avenue for whatever my wife may need that particular day.  I smile because downtown Tempe is evolving into such a great place to live!
Obviously, prescriptions will be nice to have close by, but I'm much more excited for the boutique convenience store that will save downtown Tempe residents time and gas money.  I know it isn't a "Whole Foods", but until then, it'll have to do!

CVS Pharmacy under construction on Mill Avenue a boon for Downtown Tempe condo residents

UPDATE: CVS Pharmacy should be open by the end of August 2008!

Would you like to live or work in Downtown Tempe?  Call an Urban Real Estate Broker who actually lives & works in Downtown Tempe!

Feel free to contact us at our live/work loft in downtown Tempe.
Urban Realty would love an opportunity to share with you what we know about urban living and help you find your own "life in the heart of the city!"

Tom Tokoph
Urban Living Broker

UrbanRealtyAZ.com

602-549-9000

Equal Housing Opportunity