Urban Living On The Rise

The Arizona Republic reports on the Greater Phoenix condos market and states that from 1995 to 2005, 1,500 housing units, mostly lofts and condos in new and refurbished buildings up to six stories, were built in Phoenix. An additional 1,000 units are in the works, from conception to construction.

In the next four years, the city of Phoenix expects to double the amount built in the past ten years. Housing experts are cautiously optimistic about this market segment because the condo market represents only a small submarket and that doesn't compete with the single-family housing boom occurring throughout the Valley. More...