Housing Boom Fueling Restoration

Housing boom fueling restoration of garden apartments in downtown Scottsdale Arizona...

The Arizona Republic Scottsdale reports that older garden-style apartments in downtown Scottsdale are being rediscovered and renovated as part of the downtown Scottsdale condos redevelopment boom.

Many of these smaller complexes have been converted into condos, and the prices are rising rapidly with all the downtown growth. Jason Bonal, a Realtor with Phoenician Properties Realty, said a one-bedroom condo in the Palms recently sold for $150,000 in about two hours. Bonal is restoring a 980-s.f., two-bedroom condo in the Americana and will list it for $250,000. Look for this trend to continue as downtown Scottsdale continues to be one of the hottest condo markets in the Valley. More...