Ahwatukee Foothills Condos Out Pacing Rentals

The Ahwatukee Arizona Republic reports that over about a six-month period, Ahwatukee Foothills will have lost almost one-fifth of its apartment units to condo conversions.

Owners of complexes have announced the conversion of 1,412 apartments to condos, to the dismay of renters who face fewer places to rent and higher prices. Five of about 25 complexes have converted or will shortly and other apartment owners aren't ruling out converting.

With the median home price in Ahwatukee at $374,000, buying a condo is the most affordable choice for homebuyers who cannot afford a new single-family home. One recent condo conversion, the Portifino Apartments, began sales of its 440 units in early November, and half have sold, according to Carole James, sales director. Renters get the first choice for units.

New condo complexes are being built, including a 572-unit condo complex proposed for the southeast corner of Chandler Blvd. and 50th Street, and a 108-unit complex at Frye and 50th Street. More...