When it comes to Phoenix Az waterfront property, certain bragging rights can be claimed by each city or town depending on the lake communities within their city limits. For example, Chandler has more lake communities than any other city. And Gilbert has 3 of the 6 water ski communities in the Phoenix valley. Scottsdale Waterfront Residences often claims the most expensive waterfront listing in the valley. When you consider Tempe lake communities, it could easily be distinguished as having the most diverse selection of Phoenix waterfront property.
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.
While there are very few true waterfront homes in Fountain Hills, many condos and single family homes are strategically positioned to take advantage of awesome views from the back patio or front porch of a world famous fountain that shoots up over 300 feet every hour. These Fountain Hills lake view homes are a unique phenomenon in a community that has some of the most scenic mountain views in the valley.
At 9:45 pm on Tuesday, July 20th, one section of the inflatable dam at Tempe Town Lake burst releasing 750 million gallons into the Salt River. Since it occured at night nobody was on the lake and one visitor at the west end of the lake was able to capture the release on video. The day after the failure, the Town of Tempe and Bridgestone, the manufacturer of the inflatable bladders, squared off and each offered explanations of why the other party was at fault. Obviously, something went wrong somewhere because according to the Town of Tempe website, “The bladders have special ozone and ultraviolet ray protection from the southwestern climate and have been tested extensively for durability.” Bridgestone contends improper maintenance since the bladders need to be kept moist and cool through the use of a sprinkler system that was not being used at the time of the failure, while the Town of Tempe Mayor counters that the poor design of the dam made it difficult to use the sprinklers effectively.
This prestigous Scottsdale community takes its name from Daniel C. Gainey, the original owner and Minnesotan. It was James Kilday, the founder and CEO of Markland Properties who acquired 560 acres of the original 640 acres owned by Daniel Gainey that had the vision of creating a luxury resort community.
Gainey Ranch is a mixed use community comprised of residential, commercial office buildings, a private golf course, and a luxury hotel. The residential portion of Gainey Ranch occupies approximately 264 acres, less than half of the 560 acres. The Gainey Ranch master planned community also includes commerical office buildings, the Hyatt Hotel and an award winning 27 hole private golf course , Gainey Ranch Golf Club.
Lakeside Village at Andersen Springs occupies the other side of the lake from Lakeshore at Andersen Springs. The complex features a tennis court, spa and two community pools. Another unique feature is the lakefront stores and restaurants on the opposite side of the lake, all within walking distance. Within minutes is the newer 202 freeway and Chandler Fashion mall.
2009 was a transition year for the Bridgeview urban luxury condominiums. Denver-based Condo Capital Solutions stepped in to purchased the 64 unsold units for $20.3 million in August 2009. Sales in early 2009 were virtually non-existent and only 40 of the total 104 condominiums had sold. Revised pricing has re-ignited interest in this luxury waterfront project. Originally, sales of $591K for 1,283 sq.ft, or $923K or 1,921 sq.ft. were the norm. Now prices are 50 – 60% of original 2008 offering prices. Over 20 units have sold in the first quarter 0f 2010.
If you count the individual Chandler waterfront communities, you’ll easily be in excess of 25 Chandler lake communities. Many of them are part of the overall Ocotillo Community Association. Many of these are well know Ocotillo lake communities such as Balboa Point, Embarcadero, Cantabria Shores, Bridges at Ocotillo The Vista at Ocotillo, The Penisula, and Crown Point. This post will give anyone interested in Chandler waterfront homes a good overview of the available options.
The first Hayden Ferry Lakeside waterfront condo tower was Edgewater with 40 units that sold out in 2006. It was rare to see a sale price less than$500K. Now a sale price over $500K would be equally surprising. Sold near the height of the real estate peak, prices are resetting through foreclosures and short sales, or the rare instance where the owner has enough equity and is willing to list at market value. A good example is a recently listed 1,650 sq.ft. 3rd floor bank owned condo that originally sold for $625,000 in June of 2006. It is now listed at $282,900, or 45% of the orginal sales price.
This 234 unit gated community of townhouse style condos located within the Ocotillo master planned community features 2 and 3 bedroom floor plans that range in size from 1,226 to 1,805 sq.ft. The development includes a community swimming pool, spa, fitness center and clubhouse. Unique features of this Chandler Az community include 2 car garages and 9 foot ceilings. The award winning builder Starpointe Communities began building in 2003 and completed the development in 2006 so the feel and architecture is more contemporary than other communities in the area.