Market is Doing Pretty Well, Says Developer of Condo Project That Recently Started Selling

By Anuradha Kher, Online News EditorPhoenix–The Century Plaza, a 145-unit luxury condominium project located in downtown Phoenix, has recently been completed and move-ins have now begun.Located at 1 Lexington Ave., the project features one-, two- and three-bedroom units. Prices range from $250,000, to $2.5 million for penthouses on the 16th floor.The Century Plaza condominium tower used to be a 15- story office building, which Equus Corp. acquired nearly three years ago. To transform the commercial space into a residential space, Equus gutted the interiors of the building sparing only the skeleton and walls. “Everything inside the building is brand new,” Eric Eisenhower, sales and marketing director for Equus development, tells MHN.Century Plaza interiors consist not only of a new coat of paint and budget-grade cabinetry but also high-end finishes and planned spaces. Other amenities include top-of-the-line plumbing, HVAC and electrical systems, clubroom, gym, outdoor pool and a yoga studio, wine and coffee bar and restaurant on the first floor of the building.The units have 11ft. and 10-in.-floor-to-ceiling windows, showcasing views of the midtown Phoenix skyline, NYLOFT Italian cabinetry, Kohler sinks and faucets, and Lutron shade screen technology.The Century Plaza is located in the midst of Phoenix’s sprawling urban development within walking distance to all living necessities and Phoenix activities. Additionally, the new light rail is located right in front of the building. The project has had a dozen closings since its sales center opened last month.“We’re blessed. Of course, we have a nice product,” Eisenhower tells MHN. “2005 messed up everybody’s mindset because investors were buying up and the prices were inflated. If you take 2005 out of the equation, the market is doing pretty good. We don’t pay attention to what the newspapers have to say. They always report on the bad news because that’s what sells.”