Roosevelt Point/Concord Eastridge Downtown Phoenix Apartments

[NorthScottsdale]

RoPo? Can we please all agree to never use these types of "cute" nicknames again?

[Vicelord John]

Crane coming down.

[Don B.]

$709 for a "studio?" What is that going to be, the size of a good-sized walk-in closet elsewhere? No bargain to me, especially if utilities are not included for that price. If they are included, then it's a decent deal.

--don

[Leo the Dog]

Originally Posted by Don B.

$709 for a "studio?" What is that going to be, the size of a good-sized walk-in closet elsewhere? No bargain to me, especially if utilities are not included for that price. If they are included, then it's a decent deal.

--don

It would be difficult to find rates this low for brand new construction near a major college near public transit lines in most cities. Seems like a steal to me.

[nickw252]

Originally Posted by Don B.

$709 for a "studio?" What is that going to be, the size of a good-sized walk-in closet elsewhere? No bargain to me, especially if utilities are not included for that price. If they are included, then it's a decent deal.

--don

I *think* some utilities plus cable and internet are included. Even if they are not it still sounds like a decent price for a new construction condo building right by campus. I was paying almost double that at Portland Place for a 1 bedroom and nothing was included.

[Don B.]

I did some research myself and here's the deal:

1. All units are furnished. That's huge right there.

2. All utilities are included. That's also nice. Even in a small apartment, electric/water/gas/sewer&trash can run $100 per month or more, especially in the hotter summer months (granted, when students normally aren't around but I digress).

3. Cable with HBO is included and internet with wi-fi in the whole place. Heck, I don't even pay for HBO now. Not shabby.

That was the good. Now the not so good:

Studios are $889 and one bedrooms are $979, if you want to live alone. Woof! To save money, you have to shack up with other people. $709 for four roomies, $789 for three, and $849 for two.

So, like most things in life, you get what you pay for and for students, this would probably be fine (hope your parents are deep pocketed though). New construction is more expensive and being downtown can be more expensive. Not everyone is so lucky...I had to pay for my own housing and college expenses when I went to college 27 years ago. Mom was not in a position to pay for anything.

Of course, you could amortize the cost of three years of undergraduate rent ($800 on average x 36 months = $28,800 and purchase an inexpensive condo (central Phoenix has many complexes near that price point). Then you'd have (hopefully) an appreciating asset which you could then rent out for positive cash flow or sell.

--don

[Vicelord John]

I thought someone just stated that 40% of the units are furnished.

[HooverDam]

Originally Posted by Don B.

I did some research myself and here's the deal:

1. All units are furnished. That's huge right there.

2. All utilities are included. That's also nice. Even in a small apartment, electric/water/gas/sewer&trash can run $100 per month or more, especially in the hotter summer months (granted, when students normally aren't around but I digress).

3. Cable with HBO is included and internet with wi-fi in the whole place. Heck, I don't even pay for HBO now. Not shabby.

That was the good. Now the not so good:

Studios are $889 and one bedrooms are $979, if you want to live alone. Woof! To save money, you have to shack up with other people. $709 for four roomies, $789 for three, and $849 for two.

So, like most things in life, you get what you pay for and for students, this would probably be fine (hope your parents are deep pocketed though). New construction is more expensive and being downtown can be more expensive. Not everyone is so lucky...I had to pay for my own housing and college expenses when I went to college 27 years ago. Mom was not in a position to pay for anything.

Of course, you could amortize the cost of three years of undergraduate rent ($800 on average x 36 months = $28,800 and purchase an inexpensive condo (central Phoenix has many complexes near that price point). Then you'd have (hopefully) an appreciating asset which you could then rent out for positive cash flow or sell.

--don

Keep in mind also that the rents are also by each individual. Thats a huge plus from some kid coming here from Indiana or wherever that doesn't know anyone. If the room mate you randomly end up with flakes on their portion of the rent, you're protected.

[HX_Guy]

$979 isn't bad if it included utilities, cable and Internet for a one bedroom taking into consideration the location and new build. My parents used to live in a fairly new 1 bedroom off the 101 and Thunderbird an were paying $700 with nothing included...add in utilities and cable/Internet and you'd be at about the same price but not in such a central location.

[Arquitect]

Originally Posted by HX_Guy

$979 isn't bad if it included utilities, cable and Internet for a one bedroom taking into consideration the location and new build. My parents used to live in a fairly new 1 bedroom off the 101 and Thunderbird an were paying $700 with nothing included...add in utilities and cable/Internet and you'd be at about the same price but not in such a central location.

I agree, the price isn't that bad. It is comparable with the prices in Tempe, where there are greater options and more competition. For a place right in the heart of downtown, and without not many competitors, it is a pretty good price. I hope it succeeds so we get more dense rental developments downtown (hopefuly not just geared towards students).

[PHX]

I love it, I'm buying.

[nickw252]

North Building:







South Building:



The tower crane working on the south building is gone.

[PHX31]

Thanks for the pictures. I like how the north building looks right there up against Roosevelt. One or two more developments of the dirt lots on Roosevelt I think will be the tipping point for the street, and they don't even have to be nearly as massive as this one.

Semi-unrelated: Does anyone know what the progress is of the supposed development at 1st Ave/Central and Roosevelt - the one that was supposed to encompass that little triangle of land as well as the empty lot to the west?

[Vicelord John]

There is still a sign up and I still remain convinced it is another instance of land speculation.

[HooverDam]

Originally Posted by Vicelord John

There is still a sign up and I still remain convinced it is another instance of land speculation.

based on what?

[Vicelord John]

the poor quality of the sign graphics as well as the vagueness of it all.

There are similar signs up in empty lots in Arcadia that have been there literally as long as I can remember. Land owner is just waiting for a developer or interested party to pick up the phone and ask enough questions to get a sales pitch.

[HooverDam]

Hm, it doesn't seem vague to me. Especially considering legitimate organizations like MetroWest development and the Sustainable Communities Collaborative are involved. Now that doesn't mean anything will definitely happen, a zillion things could happen to prevent a project from going, but I'd put this one much more in the 'real' camp than not.

[combusean]

MetroWest hasn't actually developed anything, so I'm not sure how you can call them legitimate.

[Vicelord John]

Originally Posted by combusean

MetroWest hasn't actually developed anything, so I'm not sure how you can call them legitimate.

[ASUSunDevil]

[QUOTE=nickw252;5894555]North Building:



It's shocking how much better the right side of this picture looks compared to the left.

Get it together landowners