Image courtesy of Tannin Developments
By Adina Rogoz | Multihousing News
Where some see problems, others see possibilities. This couldn’t be more valid for Dale Regehr, the founder & CEO of Tannin Developments, who saw a unique opportunity in the stalled Edison Midtown project in Phoenix. The 110-unit luxury condo development had been paused since 2018, when its original developer decided to sell it after delivering the first phase.
Tannin acquired Edison Midtown for $2.2 million. Collaborating with Ray Burstein of Humphreys & Partners Architects, alongside existing consultants and engineers, the firm invested nearly $25 million to bring the project to completion.
The two-building, seven-story community came online in late May in the vibrant Midtown Phoenix district. Completed six years ago, the first phase comprises 50 units, while the recently delivered Phase II encompasses 60 residences. The unit mix includes one- and two-bedroom floorplans, ranging from 822 to 1,419 square feet, each featuring modern design elements. All condos in Phase I have been sold and roughly half of the Phase II units are either closed or in escrow.
