Phoenix Development News (3)

[combusean]

San Jose includes all of Santa Clara County which includes Palo Alto on the northern end...from there heading south Mountain View, Sunnyvale, Santa Clara, Cupertino, Campbell, Los Gatos... all its sorta dense tech-wealthy suburbs.

So yeah, definitely 1.4M isn't too far off while SJ itself is somewhat cheaper but also has many expensive parts. SJ is roughly half the county population.

[azliam]

Originally Posted by TJPHXskyscraperfan

Is the average price in San Jose really 1.4 Mil? I browsed around Zillow for a sec to see and it doesn’t look like the average is that much. I wonder where the SF area ends and San Jose area begins? Cause yeah, some of those west bay cities are really expensive.

You should see Jackson Hole, WY. Expensive real estate, but for different reasons: https://www.zillow.com/jackson-wy/

[biggus diggus]

I'm laughing that you brought up Jackson. I go there every spring and yes it's expensive but because it's a small tourist ski town. Not really a comparable issue.

[azliam]

Originally Posted by biggus diggus

I'm laughing that you brought up Jackson. I go there every spring and yes it's expensive but because it's a small tourist ski town. Not really a comparable issue.

Yep - that's why I said for different reasons.

[Obadno]

Originally Posted by TJPHXskyscraperfan

Is the average price in San Jose really 1.4 Mil? I browsed around Zillow for a sec to see and it doesn’t look like the average is that much. I wonder where the SF area ends and San Jose area begins? Cause yeah, some of those west bay cities are really expensive.

Average is not median. Most homes are not 1.4mill but a bunch of houses in San Jose are several million and it brings the average up.

[somethingfast]

Originally Posted by Obadno

Average is not median. Most homes are not 1.4mill but a bunch of houses in San Jose are several million and it brings the average up.

Median = mid point of a data range. Mode = most commonly occuring data point. Average = mean = all the data points added up then divided by the # of data points.

In housing prices, the median is probably the most relevant figure as half the homes are above that price and half below

[Obadno]

I dont know how they came up with this data but I find it VERY hard to believe, there is no way encanto built more apartments than downtown between 2017 and 2021

https://azbigmedia.com/real-estate/h...ts-in-phoenix/

Highly popular due to their location and vibrant amenities, urban neighborhoods around the country have seen a boom in new apartments in the last five years. In fact, the top 20 most active neighborhoods — led by Downtown Los Angeles — have delivered a staggering 80,000 brand new rental units. And the No. 1 neighborhood for new apartments in Phoenix saw just short of 3,000 new units built in the last five years.

In our most recent RentCafe study, we went in the middle of the big cities to see which neighborhoods built the most apartments in the last 5 years.

READ ALSO: Phoenix is No. 1 in U.S. for multifamily construction projects

Here are the highlights regarding apartments in Phoenix:
• Downtown areas are the frontrunners of new apartment construction in the past 5 years. Being ideally located and rich with amenities, the major urban centers are quite popular with the younger generations.

• Encanto Village took the lion’s share of the Phoenix apartment boom. Just short of 3,000 new units were built here in the last 5 years, signifying 21% of the apartment development in Phoenix.

• Encanto Village is also among the top performing neighborhoods in the country, ranking 16th. At the national level, development here is comparable to South Lake Union in Seattle and Uptown Charlotte.

• Downtown Phoenix was the second top choice for builders, with over 2,100 apartments. That’s 15% of the units built in the city since 2017.

• Overall, the top 4 neighborhoods in Phoenix account for 61% of all the apartment development in the city since 2017.

Apartments continue to pop up across the nation, with about 1.6 million new rentals built in the last five years. And, while our latest apartment report showed that California, Texas and New York led in terms of apartment construction, we wanted to take a closer look to find out exactly which neighborhoods were the most apartment-crazed in the country.

Analyzing construction data for the 50 largest U.S. cities, we uncovered that the 20 most active neighborhoods for new apartments were mostly hyper-urban, centrally located areas, that are highly sought after by Millennial and Gen Z renters, with Downtown Los Angeles and Midtown Atlanta leading the pack. Despite the fact that downtown areas haven’t always been desirable places to live in, that has certainly changed in the last decade. For example, Downtown San Jose exceeded all expectations and built more than half of the city’s total supply of new apartments in the last five years.

So, without further ado, here are the top 20 U.S. neighborhoods for apartment construction:

[CrestedSaguaro]

Originally Posted by Obadno

I dont know how they came up with this data but I find it VERY hard to believe, there is no way encanto built more apartments than downtown between 2017 and 2021

https://azbigmedia.com/real-estate/h...ts-in-phoenix/

Encanto Village is pretty much all of Midtown between I-17 to 51 (https://www.google.com/maps/place/En...4d-112.0774451).

I could possibly see the numbers, but not by very much.

[biggus diggus]

Guys, all those apartments up and down Central, up and down the 7s, and up and down 16th are all in Encanto Village. They don't mean the little slice of Phoenix between 7th and 19th and Thomas and McDowell.

[Obadno]

There has not been that many apartment buildings completed in Encanto, Broadstone, Centra, and Alta Midtown are the only ones I can think of delivered within the Encanto boundaries in that time.

[combusean]

Originally Posted by biggus diggus

Guys, all those apartments up and down Central, up and down the 7s, and up and down 16th are all in Encanto Village. They don't mean the little slice of Phoenix between 7th and 19th and Thomas and McDowell.

Yeah, Encanto is much bigger than Central City (which is pretty much all of downtown and little else) by a long shot.

[biggus diggus]

Originally Posted by Obadno

There has not been that many apartment buildings completed in Encanto, Broadstone, Centra, and Alta Midtown are the only ones I can think of delivered within the Encanto boundaries in that time.

Think harder.

[Prestige Worldwide]

Originally Posted by Obadno

There has not been that many apartment buildings completed in Encanto, Broadstone, Centra, and Alta Midtown are the only ones I can think of delivered within the Encanto boundaries in that time.

Muse
Greenleaf
Astor
Parc Midtown
Novel Midtown
The Thomas
The Curve
Urbana on 12th

...those are just the big ones already delivered in the "Encanto Village"...many more on the way.

[CrestedSaguaro]

Originally Posted by biggus diggus

Guys, all those apartments up and down Central, up and down the 7s, and up and down 16th are all in Encanto Village. They don't mean the little slice of Phoenix between 7th and 19th and Thomas and McDowell.

Why are you saying "guys"? I stated how big Encanto Village is with a map even included!

[biggus diggus]

Originally Posted by CrestedSaguaro

Why are you saying "guys"? I stated how big Encanto Village is with a map even included!

I don't know, in case someone else was also wrong.

[az_daniel]

Originally Posted by Prestige Worldwide

Muse
Greenleaf
Astor
Parc Midtown
Novel Midtown
The Thomas
The Curve
Urbana on 12th

...those are just the big ones already delivered in the "Encanto Village"...many more on the way.

There also a ton of smaller infill projects being built all over the place throughout encanto. I live in the midtown area and there are probably 100 units across 7 or 8 multifamily projects on smaller lots under construction within a few blocks of me.

[Obadno]

Originally Posted by az_daniel

There also a ton of smaller infill projects being built all over the place throughout encanto. I live in the midtown area and there are probably 100 units across 7 or 8 multifamily projects on smaller lots under construction within a few blocks of me.

Where? the only ones I can think of are the towns on Osborn and 15th ave

[Dadedos]

I saw a new dumpster and some portable toilets set up in Central Station, and I noticed most of the wrapping on the fence was taken down (not all of it though). There were also two men walking and surveying the site, but I couldn't see if they were from Valley Metro or not.

Medistar has updated their website to say Central Station is scheduled to break ground "Q4 2021", it was previously stuck at "early 2021":
https://www.medistarcorp.com/in-development/

Could it finally be happening?

[exit2lef]

Originally Posted by Dadedos

I saw a new dumpster and some portable toilets set up in Central Station, and I noticed most of the wrapping on the fence was taken down (not all of it though). There were also two men walking and surveying the site, but I couldn't see if they were from Valley Metro or not.

Medistar has updated their website to say Central Station is scheduled to break ground "Q4 2021", it was previously stuck at "early 2021":
https://www.medistarcorp.com/in-development/

Could it finally be happening?

On Friday, I got my haircut from Eddie the Barber, whose shop is just half a block south of the site, and he said he heard "next two weeks" for construction to start.

[gymratmanaz]

Eddie, the man, the myth, the legend!!!!!