January 2010

Urban Beans

A new, locally owned Coffee Bar opened in Midtown Phoenix recently.  Urban Beans, is the creation of 2 local Architects, who also own the entire complex where the business has opened.  Kim Kristoff and Virginia Senior purchased and rehabbed the 1954 Mercury Building warehouse at 3508 N. Seventh St. two years ago as part of a venture with their firm, Phoenix-based Senior Rae Kristoff Architects.  The company improved the property and signed a handful of independent retail tenants.

Still, one suite remained empty, so the duo decided it was time for them to open a community coffeehouse.   The space opened in late September of 2009 and has a “great vibe”.  The menu looks good, they have Free wi-fi and they are bringing in local artists and local musicians to provide some inspiration.  On my first visit to Urban Beans, I noticed they have Scrabble on Monday nights, which I will definitely have to check out.

CityScape to open in 2010

2010 will be a very good year for Downtown Phoenix and one of the reasons will be the opening of CityScape.  The project will bring additional life to the heart of Downtown. 
 
The first tenants begin moving into the project in late February, early March.  Grand Opening should take place sometime in late summer to early fall. 
 
Phase 1 of the project will encompass the area from 1st St to 1st Ave, between Jefferson and Washington Streets.

The Tenant List as of this date for Phase 1 includes:
  
.CVS/pharmacy
.Lucky Strike Lanes
.Urban Outfitters 
.Fox Restaurant Concepts  
.Gold’s Gym
.Squires, Sanders and Dempsey
.Ballard, Spahr, Andrews and Ingersoll
.Polsinelli, Shughart
.Fidelity National Title
.RED Development
.Jennings, Strouss and Salmon
.Gust Rosenfeld
.Kimpton Palomar Hotel
.Aaron May (2 Restaurants) – Asian Noodle House & Mexican style restaurant
.The Breakfast Club, a one-of-a-kind breakfast restaurant
.Blu Burger Grille, a unique, high-quality hamburger experience
.Press Coffee, a local coffee, food and wine shop
.Designer District, a Scottsdale-based denim apparel retailer
.Republic of Couture, a world class fashion boutique

Read more about the Project

Bank owned Condos making Downtown Phoenix affordable

During the crazy days of 30 and 40 % annual appreciation in our local Real Estate market, just a few years ago, living in a Downtown Phoenix condo or loft was reserved primarily for the wealthy who were buying units as second homes, with a few owner occupants who worked downtown and a few empty nesters mixed in to the equation.  

For those individuals who currently work downtown and are still interested in walking or biking to work, Condo living has actually now become affordable due to the beating that local real estate values have taken in the last few years.

As an example, Lender owned loft units at the Orpheum Lofts are currently being offered at the $100,000 price point.  With a 20% down payment and even with the steep HOA Dues there, an owner occupant could be looking at a total monthly outlay for housing of under $1200.  For many professionals working in Downtown Phoenix, that is affordable.

 

Other downtown complexes such as the Summit at Copper Square, Stadium Lofts and Artisan Parkview are presenting the same kind of affordable, lender owned purchase opportunities.

 

To find out more about current properties on the market in Downtown Phoenix, contact Lyle Plocher at lyle@urbanconnectionrealty.com or 602 373 3725

Drip is Toast

Well not really, but the same great people that brought you the Drip Coffee Lounge have re-tooled and now opened the Toast Breakfast Boutique.   Using all local and mostly organic products, Toast is a one-of-a-kind breakfast boutique in downtown Phoenix.  It’s small, intimate modern atmosphere provides a place to relax, eat & have a conversation.

The menu changes frequently, but you will always be able to order the fabulous NYC egg sandwich.  So stop in – eat, relax and leave your laptop at the office!

Toast Breakfast Boutique is located at 2327 N. 7th Street

For business hours and contact info, visit the Toast website