Regatta Pointe condominiums located right across the street from Tempe Town Lake were built in 2002. While they cannot be considered waterfront property, some of the condominiums have fantastic views of Tempe Town lake. This Tempe lakeview condominium development has 136 units; 116 single level units and 20 larger two story units. A heated community pool and spa are at the center of the community. The location features proximity to an endless list of amenities such as parks, the light rail, Mill Avenue restaurants and entertainment, and a cultural center. Recent sales of distressed properties such as short sales or bank owned units have sold for 60% of their highs in 2005 – 2006.