What’s behind Phoenix’s condominium boom?

Phoenix
Phoenix
A rendering of Portland on the Park

By Robert Pela | Phoenix New Times

For the first time since late-’60s urban renewal chased Phoenicians from the city’s core and into the suburbs, sales of condominiums are passing those of single-family dwellings here.

The Valley is home now to a record number of townhome, condominium, and loft developments. In 1997, Phoenix topped the nation’s list of cities with vacant landfill; today, builders are waging bidding wars to get hold of the same empty parcels. Likewise, older buildings — even the eyesores — are being snapped up for adaptive reuse programs that turn them into high-density infill developments.

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