There has been a lot of talk around town about the exciting new downtown tempe development known as "Stadium Tower". This new loft, condominium development was able to secure the first truly "hip" hotel for Downtown Tempe, "Lumina". Located at 5th & College in downtown Tempe, one can only assume that many cities and developers made proposals to acquire this new concept from the creator of the "W Hotel", but it is worth noting that downtown Tempe was the city chosen. Thankfully for those of us who live, work & play in downtown Tempe, we will all enjoy access to this exciting, vibrant & modern hotel within walking distance of Mill Avenue in just a few short years!
For anyone interested in this new development, here are a few details that I acquired while at their Exclusive "Friends & Family" event on April 25th, 2007. From the perspective of someone who makes a business selling downtown Tempe condos, I was very impressed with the interior design of the Stadium Tower. The homes are edgey, modern, minimalistic with a very "euro" look. That's good, considering the Stadium Tower will be complimented by the hipster style of the new Lumina hotel next door. Plain and simple, this development is "Sexy"- with a capital "S"!
Apparently, many others who attended this special event agreed with my assessment of the development. By the end of the night, it appeared that 40 to 50 percent of the units had already been reserved. For those of you already drooling over the prospect of living at the Stadium Tower, I've been told that the public will have their opportunity to purchase their own home at a "grand opening event" sometime in June 2007. At that time, buyers should expect a $5,000 reservation deposit to hold a unit, with an additional deposit of 10% to 20% of the purchase price required upon formal contract. Construction on this landmark development is scheduled to begin sometime late Summer with new Stadium Tower residents moving in approximately 22 months later.
If you have any interest in being a part of this new development, or have any other questions, please call Tom Tokoph with Urban Realty & Development. We would be more than happy to tell you all about the fantastic growth of downtown Tempe including this new development and represent you as a buyer's agent.
Tom Tokoph
Designated Broker
602-549-9000
