[Source: Arizona Republic] — They arrived late to the real-estate-boom party a few years ago. Now mid-rise urban condominiums are like the odd guest that everyone is afraid to approach. Hundreds of pricey condos were built in the past five years, creating an inventory of units primarily in downtown Phoenix, Scottsdale and Tempe, and the Biltmore and Kierland areas. Some developers and investors took a bath as condo prices collapsed and financial troubles cast a shadow on some complexes.
Buyers are carefully weighing a condo investment as they look at what each area has to offer and what they can afford. Realtors and developers say they are seeing an uptick in interest as prices have fallen. In Phoenix, condo towers are part of an emerging mid-city renaissance that includes light rail, students, restaurants, galleries, and restored housing. “We might be crawling, but we’re crawling in the right direction,” said Realtor Michael Fitzpatrick of Phoenix Urban Living. [Note: Read the full article at Metro Phoenix condo agents bank on the draw of city life.]
[Source: Scott Wong, Arizona Republic] — Phoenix Mayor Phil Gordon is asking residents interested in serving the remainder of City Councilman Greg Stanton’s term to submit a letter of interest and resume to the city clerk by 5 p.m. Feb. 5. Applicants must be a registered voter and live in District 6, which includes Ahwatukee and the Biltmore and Arcadia neighborhoods. All applications will be available for public review at the City Clerk’s Office, which will provide copies to council members on Feb. 6.
The council will hold a special meeting at 10:30 a.m. Feb. 10 to interview each of the candidates for 10 minutes. If needed, the process will continue at 2 p.m. that day at the council’s regularly scheduled meeting. The meetings, open to the public, will be aired live on Phoenix Channel 11 and streamed live on the city’s Web site. Community members will be allowed to speak about the appointment process or any candidates. After final interviews, the council will vote to appoint the interim council member. Any member of the council, including the mayor, may nominate a candidate to fill the vacancy. The first candidate to receive a majority of votes — five in the case that all council members are present — gets the appointment and would serve out the remainder of Stanton’s term through January 2010. [Note: To read the full article, click here.]