Scottsdale & Paradise Valley Development News

[HX_Guy]

Man this article is the worst...

Here come the mid-construction halted condo projects...


When we first heard there was going to be a 15 story condo project in Chandler, yes, Chandler Arizona, many of us laughed and laughed.

No matter how purty the stock-art photos of young couples doing wine and cheese, it's tough to sell a $1,000,000 2-bedroom condo in such a lame area. Well, we're now finding out, it's not just tough, it's impossible.

Wonder how they'll tear these condo building frames down, in Arizona, in Miami, in San Diego, in Denver, in ...?

Work has virtually stopped at the 10-story luxury hotel under construction south of Chandler Fashion Center, and the city has warned the project architect that some permits issued in January have yet to be paid for.

When asked Friday whether there were problems with the project, Oaks, the architect, said he could not comment. Builders have finished eight floors, but the ninth and 10th floors for condominiums are considered a different phase of the project.

Plans call for 243 rooms, including 10 executive suites. The top two floors will house 27 condominiums that range in price from $500,000 to $2 million. The hotel has a projected opening date of November 2007. The 10-acre site will include a 15-story condominium tower southwest of the hotel and a four-story parking garage with more than 600 spaces. Construction on that tower is expected to begin in late summer.

I hope projects currently under construction in Phoenix and Tempe don't end up the same...mainly Monroe 44, Summit, Sheraton, and W hotel...if that even ever takes off.