Downtown Condos Expected to Sell Out Fast
By Balazs Szekely, Associate Editor
Downtown Tucson Partnership has high expectations of the Flats at Julian Drew Block Condominiums community as all 53 units at 128 S 5th Avenue of are now listed for individual sale and the partnership anticipates great interest from buyers.
The units have recently been updated with climate control units, new front doors and windows, kitchen cabinets, recessed lighting and new plumbing fixtures. Each unit overlooks a large courtyard with pool, spa, bike racks and barbecue area. The three-floor property includes studio and one-bedroom condos with prices starting in the low $100,000s. The company submits two model units for clients interested in buying to view daily from 9 am to 5 pm and the units are available for purchase through Tierra Antigua Realty.
Vice President of Regional Development for Tucson Regional Economic Opportunities, Michael Guymon thinks that a successful and viable neighborhood has to live up to a certain standard, namely, to provide live, work and play opportunities, and that the Flats at Julian Drew Block Condominiums meets these requirements. “From a housing perspective, those successful downtowns include diverse options that allow for rental and ownership. This project brings an important ownership opportunity to those looking to invest in Tucson’s downtown.”
According to Michael Keith, CEO of Downtown Tucson Partnership, there has been demand for such a project for a long time. He sees a turning point for Downtown in the conversion of the community. “The fact that buyers can not only be part of one of the hottest Downtown districts in the west, but can actually own an appreciating asset in the center of our amazing redevelopment district is astonishing. That their mortgage payments will be comparable to area rents is even more astonishing. You have to think that these 53 units will be completely sold out in a couple of months,” he said in a statement.
Photo credits: Downtown Tucson PartnershipTags: Acquisitions/Dispositions, Brokers, climate control, community, Condo, Co-op, HOA, condominium, Developers, Development, Downtown Tucson Partnership, economy, Finance/Investment, Investors, Local, Maintenance, Managers, Michael Guymon, Michael Keith, mortgage, National, ownership, recessed lighting, redevelopment, Regional, Regional Development, renovations, swimming pool, the Flats at Julian Drew Block Condominiums, Tierra Antigua Realty, Tucson, Tucson Lead Story, Tucson Regional Economic Opportunities