Condo Trend Spreading To Ahwatukee Foothills

The Arizona Republic reports that the nationwide trend of converting apartments into condo's has arrived in Ahwatukee Foothills (South Phoenix, Arizona).

Real estate watchers say that Ahwatukee is poised to become the next hot market for condo conversions, with three apartment complexes in the process of converting. The 280-unit San Riva Apartments at 24th St. and Pecos, and Portofino and Broadstone Canyon complexes on Chandler Blvd., are the three complexes totaling 668 units that are scheduled to be converted.

CB Richard Ellis predicts that there will be 4,500 conversions in metro Phoenix this year, a threefold increase from 2004. More...