Blog

Oakville Grocery to open at CityScape in September

The search has been on for the last few months to find a Grocery Store to replace AJ’s who had to back out of the project due to the Bankruptcy filing of their parent company Basha’s.  The search is now over as an announcement was made Monday by RED Development Partner Mike Ebert, Phoenix Mayor Phil Gordon and Barbara Henderson, general manager of Oakville Grocery, a company that has it’s roots in a country store that started 120 years ago.

Oakville, headquartered in Napa Valley, California will open it’s second store in Arizona in a 9,000 sq ft space at CityScape.  The company’s first store in Arizona, opened in Scottsdale in January of this year. 

Henderson said shoppers can except to find a wide selection of palate-pleasing delights, including products from 15 local purveyors.

Source: Phoenix Business Journal

Primal Fitness Training comes to Downtown Phoenix

The Downtown Phoenix Warehouse District is now home to an innovative Fitness Training Studio.  The AmenZone is now open for business at 106 E Buchanan St.  The idea behind owner/trainer Amen Iseghohi’s training approach is to be “totally natural”.  Shunning the weight room, Amen’s unique approach uses recycled tires and one’s own body strength and movement to stay fit.

The fitness studio is in a very cool, renovated warehouse space with gated parking in the rear of the building. 

 

Check out the class schedule                                                     

Phoenix real estate prices close to the bottom

 For the first time in a few years, we are starting to see encouraging articles appear in the local media about our real estate market.  This past week, I actually see three separate articles in a two day span with good news. 
 
The first article was titled “Pending home sales, prices on the rise” .  This article appeared in the Phoenix Business Journal.    The article quotes local real estate market analyst Michael Orr.  Orr, author of the Cromford Report, said that the January rise in pending home sales is a critical recovery indicator for Arizona’s real estate market.  Orr said the latest report shows pending sales in the Metro Phoenix area hit a record 9,883 in the first week of January 2010 – a 79 percent increase over the 5,350 from a year ago.
 
The second article, also in the Phoenix Business Journal, stated that Phoenix home values were up 1.1% from October of 2009 to November of 2009.
 
The third article, written by J. Craig Anderson at azcentral.com, quoted Arizona State University professor Karl Guntermann who publishes the monthly ASU Repeat Sales Index housing report.  Guntermann said, for the first time since the foreclosure crisis began, the price of a Phoenix area foreclosed home was roughly the same as it was a year ago.  Guntermann said that in December, based on early numbers, the annual decline in price was down to 2%.  That does not hold true for the non-foreclosure market which is still declining at an annual rate of 20% according to Guntermann. 
 
Signs are beginning to point to the possibility that we could start seeing a slight and slow recovery in local real estate values in 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

1950’s Building right on Grand Ave

Dream of opening your own Bar in Downtown Phoenix in 2010? Your dream could become a reality.  At least the opportunity is there!  Be part of the emerging Grand Avenue arts and culture scene in this quaint 1950s building right on Grand.

Most recently the location of Chez Nous, this building features 2,400+ square feet on a 12,500-square-foot lot.  There are a total of 18 parking spaces.

Asking price is $395,000.

 

 Liquor license is available under separate agreement.

For more information about this property or to arrange a viewing, contact Lyle Plocher at

 602 373 3725 or lyle@urbanconnectionrealty.com

Listing is courtesy of R.O.I. Properties

1916 Classic Bungalow in Roosevelt Historic District

A practically perfectly preserved 1916 classic bungalow with incredible original features like wood floors, dark wood paneling in the living and formal dining rooms, beveled glass front door, leaded glass built-ins, and great windows and panel doors. Combine that with compatible cabinetry in the kitchen, laundry, and pantries, well placed skylights, and exquisite travertine floors and amazing landscaping for an incredible home.  The home features, 2 bedrooms, plus sunroom, 1 and 1/2 baths in 1800 + sq ft of living space on a 10,000 + sq ft lot.

 

 

 

Asking Price is $395,000

 

 

For additional information or to arrange a personal viewing of the property, contact Lyle Plocher at

602 373 3725 or lyle@urbanconnectionrealty.com

1930’s Ranch style home in FQ Story

This is a great early ranch located on a terrific street in one of the prettiest historic districts.  All of the rooms are nice size, have great windows,  gas fireplace in the large living room, formal dining  and a VERY spacious eat-in kitchen for a 1930’s home complete with vintage stove. The master has a walk-in closet and it’s own full bath.  A large family room, laundry room with storage, and a 2 car garage round out the rare finds in a home of this era. 

The beauty of a ranch is the versatility of style…change the flooring and paint and you could have a retro-mid-century, pottery barn comfy home, or sleek Z Gallerie modern…the possibilities are endless.

Asking Price is $249,500

 

 

 

 

 

 

For more information about this home or to arrange a personal viewing of the property, contact Lyle Plocher at

602 373 3725 or lyle@urbanconnectionrealty.com

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