New downtown Phoenix condos will have prices starting under $180K
PHOENIX – Developers are breaking ground this week on what’s being called an “attainable” condo community in the Historic Garfield District of downtown Phoenix.
The Verde Park Condominiums will offer nine one-bedroom, one-bathroom floor plans, with prices starting in the $170,000s, according to a press release.
“We are seeing rents rising in downtown Phoenix to the point of making homeownership unattainable for many people,” Nicholas Yale, owner of Brokers Hub Realty, which is partnering with Live Forward Ventures on the project, said in the release.
“Verde Park is a response to rising cost and a chance for more people to own property and live, work, and play in a vibrant downtown.”
The two-building, three-floor complex at the corner of Ninth and Polk streets will have 43 units ranging in size from 433 to 744 square feet.
Each condo will have a private balcony or patio and 9-foot-high ceilings.
“We were looking for attainable housing in a vibrant urban setting and we wanted a price point that opens up a different dynamic in the downtown market,” Yale said.
Construction is set to begin Friday, and the community is scheduled to open by the end of 2019.