Lofts, Condos Are Hot Market in the Valley
by Sue Doerfler, The Arizona Republic
When David and Jennifer Staciokas bought a unit at Orpheum Lofts in downtown Phoenix two years ago, lofts were still a novelty here.
Not anymore.
The Stociokases, who wanted to “help shape downtown,” are part of an urban-living heat wave. Now, urban living — lofts and the newest trend, high-rise condos — is taking off, not only in Phoenix, but in Tempe, Scottsdale, Chandler and other Valley cities.
At the time, the Staciokases looked at several projects. These days, they could choose from thousands of units that are planned or in the works.
The numbers tell the story: From 1995 to 2004, 1,500 housing units, mostly lofts and condos in new and refurbished buildings up to six stories, were built in Phoenix. An additional 1,000 units are in the works, from conception to construction. In the next four years, the city expects to double the amount built in the past 10 years.
But is construction short-lived? Is the market just a fad?
Housing experts and city officials are cautiously optimistic, saying that, at least at the time being, condos represent a small submarket that doesn’t compete with the single-family-housing boom occurring throughout the Valley.
Many buildings, such as Optima Biltmore Towers, are selling out before they are completed. Others are taking pre-sales. Demand was so great for one 65-unit project that developer Grace Communities scrapped it and started over with a new building, new name and more units. Now, 44 Monroe features a 34-story residential tower and 176 units.
Fueling the urban-living renaissance, experts say, are several factors, among them light-rail construction, ever-increasing commute times from outlying areas, Tempe Town Lake development and downtown Phoenix projects such as the Translational Genomics Research Institute and the Arizona State Uniiversity campus.
The Renovated Loft
by Sue Doerfler, The Arizona Republic
Downtown rewards: Security, convenience
The owners: David and Jennifer Staciokas wanted something with character.
“I always wanted to live in Phoenix,” said David Staciokas, a 37-year-old marketing consultant who has a home office. “I found out on my first date that my (future) wife did, too.”
Loft: A two-bedroom, one-story unit at Orpheum Lofts, 114 W. Adams St., Phoenix. Brick walls, the original ones built in 1931, and exposed ductwork lend the loft look. The building has a Art Deco feel.
“I think it’s the closest you’re going to get to a loft in downtown Phoenix,” Jennifer Staciokas, 29, said.
Her husband said, “This is something you can’t duplicate.”
Décor details: Contemporary. Red-and-black suede chairs, done in a geometric design, a black-leather sofa and blue-and-black ottomans sit atop multicolored rugs. The multilevel glass dining table is just inside the front door, next to a pass-through from the kitchen. The office features purple chairs and a glass-topped wood desk.
Their dog, Lily, a Jack Russell terrier, even has her own selection of matching furniture.
Location: The couple, who travel a lot for their jobs, like the no-maintenance, lock-and-leave lifestyle of living in a building with 24-hour security.
“The nice thing about us traveling so much is we pick up the bus right outside the building and take it right to the airport,” David Staciokas said, “No parking.”
They like the camaraderie among the residents, who organize get-togethers, including a wine-tasting at the Wrigley Mansion.
What’s hard to get used to: Less storage space than standard homes.
They have come up with innovative ways to store wine, such as a metal wine holder on an adjacent wall. It serves double-duty: It hides the electrical box.
Great thing about being in an old building: 70-year-old character.
“You can walk around here and see notes the workers scribbled on the columns” when they built the building, David Staciokas said.
A Valley View and a Valet
by Sue Doerfler, The Arizona Republic
Renovations create new arrangement
The owner: Richard Dance, with parter Adell Heinemann, renovates old buildings into office condos and lofts. So it makes sense that he lives in a high-rise condo that he renovated into a loft.
The loft: A 1,600-square-foot, two-bedroom condo in Executive Towers, 207 W. Clarendon Ave., Phoenix, which was designed by the late Valley modernist architect Al Beadle.
When Dance bought it, the condo was very 1960s with sleek lines, low popcorn ceilings and smoky mirrors.
To create a more open, lighter loft look, he removed wood floors and refinished the concrete. He raised the ceiling and installed new exposed duct-work.
Look closely at the ceiling and you still can see the imprints of the plywood forms that were used when the ceiling was poured.
He replaced Formica countertops with stainless steel but kept the yellow metal cabinets from a 1970s remodel. He also replaced the French balcony doors with sliding doors, which provide more light and better views.
Other renovations: He enlarged the dining room by pushing down one of the interior walls 3 feet and gutted and redid the hallway to the master bedroom. He turned the second bedroom into a home office.
Decor details: Casual/Asian. Reminders of Dance’s time working in the Middle East, including wood chests, woven rugs and shoji screens, decorate the rooms.
The kitchen, dining room and living area are a large, open space. A wall of glass, with sliding doors to access the balcony, lets in light and views of Phoenix to the north.
Location: Dance enjoys living in central Phoenix, where shopping and restaurants are nearby.
Thoughts on lofts: “The great thing about the loft look is you just run conduit anywhere you want.”
Best perk of living in a high-rise condo: Valet service. Dance pays extra for the valet service, which is especially handy when bringing in groceries.
Favorite restaurant within walking distance: Camus, 401 W. Clarendon Ave.
Equal Housing Opportunity