Condos Lined Up For Central Phoenix

Cresleigh Homes has purchased the Holiday Inn at 4321 N. Central in midtown Phoenix and plans to tear it down to build three, five-story condo buildings with 257 units.

Prices have not yet been determined, but the units will run from 600-square foot studios to three bedroom, 1,400 square foot units. Cresleigh said the units will be "affordable".

Condo developers along Central Ave. believe the planned light-rail system will be a big selling point and talk up the areas proximity to the city's downtown. Some analysts think there are too many condo projects in the works, especially the high end condo projects.

"The easiest thing to do in this town is issue a press release about your high-rise condo," said RL Brown. "There's nowhere near the demand for expensive downtown condo for the supply that has been proposed," he added. More...