Downtown Tempe Lofts & Condos

Hayden Ferry Lakeside has announced that the Hyatt Hotel brand will be the new operator of the previously announced "Le Meridien" hotel site along the Tempe Town Lake.  See the full news article and renderings of the Hyatt Regency Hotel at Hayden Ferry Lakeside below.

September 24, 2008

East Valley Tribune

MIKE BRANOM

A Hyatt Regency will be opening on the shore of Tempe Town Lake in 2011, Mayor Hugh Hallman announced Wednesday during his State of the City address.

The 240-room luxury hotel will be part of the Hayden Ferry Lakeside complex, located northeast of the intersection of Mill Avenue and Rio Salado Parkway.

The Hyatt also will feature 24 condominiums, a 4,000-square-foot spa and 13,000 square feet of meeting space, including a 5,000-square-foot ballroom.

Groundbreaking will take place next summer, Hallman said.

Hyatt officials said they were in the final stages of negotiations, and were holding off commenting until late next week.

The master developer of Hayden Ferry, SunCor, also declined to comment, deferring to Hyatt.

Currrently, there are 159 Hyatt Regencies worldwide, according to the company's Web site.

City leaders and the master developer of Hayden Ferry, SunCor, have been trying for years to find an upscale hotelier for that property. A deal with Le Meridien fell through this summer.

There was a great little report / video on Bridgeview and Edgewater at Hayden Ferry Lakeside along Tempe Town Lake on ABC15 last night.  While it isn't very informative, the report does underscore the ideas that Urban Realty has been promoting for years now-- urban life provides a much easier, more convenient lifestyle.

September 17, 2008

ABC15

More Valley residents are moving "up"
Reported by: Steve Irvin

CLICK HERE FOR HAYDEN FERRY LAKESIDE NEWS VIDEO

Just a few months ago, Russ Hickman was living in a five bedroom, 3 bath home in Mesa.
 
He's happier now, he says, with his 1,200 square foot, one bedroom condo.  It's a simple matter of convenience.
 
"Close to the airport, close to restaurants... walking distance," Hickman said.  Just some of the reasons he moved into the Hayden Ferry Lakeside condominiums in March.
 
The trendy complex sits right on the shores of Tempe Town Lake, a stone's throw from the old mill on Mill Avenue.

Its selling point: a lock-and-leave lifestyle with no yard work, no maintenance, and amenities ranging from a swimming pool and gym, to a demonstration kitchen and a movie theater.
 
"Simple things you take for granted. You have a landscaper, pool service... all those things go away here," said Sales Manager Bob Normile.
 
All that convenience comes with a price however.  One-bedroom units start in the $600,000 range.  The 5000 square foot penthouse is on the market for $5 million.  Developers say residents have actually saved money on expenses like transportation and home repairs.
 
Developers maintain sales are strong, even in a tight market.  Elsewhere in the Valley, particularly downtown Phoenix, the picture may not be as good.  Several projects have been put on hold as sales slow, and financing becomes more difficult to acquire.

The East Valley Tribune reported yesterday that the judge in the U.S. bankrupcy court has granted Avenue Communities partial payment of the 4.8M initial funding requested.  The remaining portion will be reviewed for approval at a hearing scheduled for October 16th.  This appears to be good news for the developer, Mortgages Ltd., and the City of Tempe since it theoretically places Centerpoint Condominiums back on track to complete construction of the $200M development.

Read the entire EV Tribune Article Here