By Terrance Thornton | Scottsdale Independent
Multifamily housing ain’t what it used to be.
The Valley of the Sun — the city of Scottsdale in particular — has become a hotbed for luxury multifamily housing construction with hundreds of new units expected to come to market over the next 12 to 24 months.
Housing data experts at the Cromford Report, which is the premier data trove for local real estate professionals, say portions of northern Tempe, downtown Phoenix and Scottsdale are the heart of the luxury multifamily construction boom.
Sales of condominiums, or townhomes depending on who you ask, are up 77 percent year-to-date in both Maricopa and Pinal counties, numbers show.
