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5 Phoenix Neighborhoods Offering the Best Value for First-Time Homebuyers

Courtesy, Catherine Reagor, Arizona Republic

Home prices have shot up in metro Phoenix, but deals can still be found if you know where to look.

Finding that Valley neighborhood, block or home that is still a bargain and likely to rise in value sooner rather than later is the end game for most homebuyers, investors and flippers.

Rising home prices are making it so much tougher for first-time homebuyers. So this year I am sharing some neighborhoods where houses are priced below $300,000.

A disclaimer: I am not advocating to buy in these areas. Some of the areas come with higher crime rates or other urban issues. But when a friend or source asks me where first-time buyers can still afford houses closer in, here’s my answer.

South Phoenix

I thought this central Valley area close to freeways and the biggest city park in the U.S. would rebound 15 years ago. But the housing boom and bust delayed its comeback until now.

Home sales in the area’s 85040 ZIP code soared 37% last year. Prices in that neighborhood climbed 22% to $201,000 but are still affordable compared with metro Phoenix’s median home price of $268,000.

South Phoenix has golf and gated communities closer to South Mountain in the 85042 ZIP code. But the median price for that area is only $250,000.

A cool new community called Avance on a former golf course, right next to the preserve, opens in May, 2019. Prices there are expected to start above $300,000.

Downtown Mesa

Light rail, new universities and investment from the Mormon Church are giving this older area a boost. Several new restaurants have opened, and new housing projects are planned, and Mesa has some wonderful historic homes.

It’s become a place for people to hang out again.

The median home price in downtown Mesa’s 85201 ZIP code is $220,000, up 10% from last year. The Evergreen Historic District with homes dating to 1910 can be found here.

Benedictine University has a new campus in downtown Mesa, and Arizona State University is opening one. ASU’s investment in downtown Phoenix helped create a rental housing boom in that area.

Sunnyslope

This often-maligned north Phoenix neighborhood that stretches up and around 7th Street and 7th Avenue north of Northern Avenue to North Mountain is starting to see home prices rise and more businesses open.

Its lower-income housing may deter some buyers, while others like the great diversity. It spans the ZIP codes 85020 and 85021 and is one of the most affordable neighborhoods in both.

The median home price in 85021, the more affordable area, is $301,000. But that area also includes parts of the much-pricier north central neighborhood.

Some interesting luxury homes can be found in Sunnyslope around the Phoenix Mountains Preserve.

Melrose Woodlea Historic Neighborhoods

Buyers can find mid-century homes with relatively affordable price tags in several midtown neighborhoods in the 85013 and 85015 ZIP codes such as North Encanto Historic District, Woodlea Historic District or Pierson Place Historic District.

The Willo, Encanto and Uptown neighborhoods, where prices are much higher, border this area.

Neighborhoods bordering some of the historic districts are great places to look, too. Grandview is one of my favorites, or St. Gregory/Westwood, and there are some hidden gem “no-name” neighborhoods also between 7th and 15th streets and Osborn and Indian School roads.

The redevelopment of Park Central Mall and the many new apartments going up in Midtown are also giving this area a boost.

The median home price in 85013 is $325,000, but houses that need some work can be found for less. The median price in 85015 is $229,000.

West Phoenix

The 85017 ZIP code is home to growing Grand Canyon University. The school helped revitalize the area that had Phoenix’s highest crime rate in 2010.

This west Phoenix neighborhood is drawing investors, who are buying homes and turning them into rentals for students, and flippers, who are redoing the area’s older brick ranch-style houses.

Crime rates have dropped and home values have climbed in this area near Interstate 17. The median home price in the 85017 ZIP code has rebounded 302% from $41,000 after the crash in 2011 to $165,000 in 2018.

Despite the jump, it’s still one of the Valley’s most affordable neighborhoods.

Investors/flippers

These areas are top picks for investors and flippers for the same reasons they draw first-time buyers.

That means first-time buyers will face a lot of competition for the best properties.

But for buyers who don’t want to fix up a house or want to rent in an area before buying, it means more options.

For buyers interested in affordable new homes, check out a list of the least pricey new communities. Most are in metro Phoenix’s edge suburbs.

Whether you’re looking to buy a single-family home in Phoenix, AZ, a Historic Phoenix home, or, If the condo lifestyle is something you’re considering, or, if it’s all you can afford now, please give me a call for free, no obligation consultation. I specialize and LOVE working with first-time homebuyers and am am FIRM believer that THERE IS NO SUCH THING AS A STUPID QUESTION. I’ll take all the time with you that you need!

Historic Phoenix Sees Major Rejuvenation ‘Between the Sevens’

Some of Phoenix’s most desirable neighborhoods to live can be found in an area that’s commonly referred to as “between the sevens,” which is the region between Seventh Avenue and Seventh Street throughout Downtown, Midtown and Uptown Phoenix.

Home to historical neighborhoods like “The Windsor,” prominent office buildings and iconic retail centers, the area between the sevens is also becoming an increasingly attractive place to work and play as new commercial real estate projects take shape, blending modern needs with the area’s rich history.

The latest projects range from adaptive reuse transformations of a former grocery store and other businesses into multifamily communities or trendy bars and restaurants. It also includes the modernization of older office buildings to meet current standards with lots of natural light, high ceilings, large open floorplates and easy connection to amenities.

Whether its people or companies, everyone is looking for a connected place that’s walkable, vibrant and linked to other amenities and uses, says City of Phoenix Economic Development Director Christine Mackay.

In addition to providing great transit options such as light rail, buses and the Grid Bike Share program to get around, Midtown and Uptown also boasts incredible dining and shopping options as well as prime office locations for major corporate companies.

Mackay says the rejuvenation of Midtown started in 2016 when Banner Health moved its corporate headquarters to the Banner Corporate Center on Thomas and Central Avenues.

Banner retrofitted an old building, bringing it to the 21st century, explains Mackay, which signaled to other large corporate tenants that the area and surrounding communities would support regional and/or national headquarters.

From there, the 2828 North Central building renovated its bottom floor to include a co-working shared space that’s currently occupied by Mod Phoenix. Meanwhile, the owners of the 2020 On Central building renovated all of its lobbies and shared spaces, which eventually led Facility Source to lease office space.

“Those three things really set the stage for other building owners to come in and start making dramatic changes,” Mackay says.

Now, Midtown is experiencing office renovations across the board because so many of the existing buildings were constructed in the 1970s and 80s.

Mackay also describes an incredible and growing demand to live in Midtown and Uptown. “It’s cultured. It has night life, distinctive dining and pretty much everything is local. It’s exactly what people are looking for today,” she says.

In addition to new office product and multifamily units, the area between the sevens has also seen a surge in new retail projects as it’s becoming more widely well-known as a foodie hotspot with an eclectic and tasty mix for restaurants and bars.

Mackay says, “The restaurants, culture and nightlife is really what’s drawing people into this Central City to live.” In fact, she says, there are not less than 100 restaurants in that area for people to choose from.

Mackay points to the success of projects like The Yard, along Seventh Street and Missouri Avenue, as an example of the pent-up demand for restaurants nearby, which has spurred other retail and dining destinations to follow like The Colony, built by LGE Design Build in 2016.

Looking ahead throughout Midtown, Mackay says, the renovations of Park Central Mall is “the last missing piece before the area returns to full throttle.” Meanwhile in Uptown, she predicts, the completion of Arrive Phoenix will “really prove the market and show what a destination hotel looks like in that area.”

ARRIVE Phoenix

DEVELOPER: Vintage Partners; Venue Projects

GENERAL CONTRACTOR: Venue Projects

ARCHITECT: Arrive Hotel & Restaurants

LOCATION: 400 & 444 W. Camelback Rd., Phoenix

SIZE: 45,000 SF; 79-rooms

VALUE: $20M

START/COMPLETION: Q1 2018 – Q4 2018

Located at what’s been called the Valley’s “hottest intersection” by the Urban Land Institute of Arizona, the project transforms a trio of mid-century gems into Uptown Phoenix’s newest dining, entertainment and urban hotel hub. The two-acre site will also host a boutique coffee shop, poolside taco bar, gourmet ice creamery, and nautical-themed rooftop craft cocktail bar featuring 360-degree city views. For the project, Vintage Partners teamed up with Venue Projects, the visionary developers behind The Newtown and other successful adaptive reuse projects like Windsor/Churn and The Orchard along Central Avenue.

First Place-Phoenix

DEVELOPER: First Place AZ

GENERAL CONTRACTOR: hardison/downey construction

ARCHITECT: RSP Architects

LOCATION: 3001 N. Third St., Phoenix

SIZE: 81,525 SF; 56-units

VALUE: $15M

START/COMPLETION: January 2017 – March 2018

The $15 million residential property for adults with autism and other neuro-diversities will be a first-of-its-kind facility that First Place AZ plans to expand into a worldwide model. First Place AZ Founder, President and CEO Denise Resnik started the nonprofit to ensure that housing and community options are as bountiful for people with autism and other neuro-diversities as they are for everyone else. The project provides a one-of-a-kind approach that combines apartments, a residential training program and a national leadership institute to advance more independent and community integrated living options.

The Curve at Melrose

DEVELOPER: P.B. Bell

GENERAL CONTRACTOR: M.T. Builders

ARCHITECT: Studio 15 Architecture Inc.

LOCATION: 4333 N. Sixth Dr., Phoenix

SIZE: 204-units; 308,618 SF

START/COMPLETION: August 2016 – Early 2018

The Curve will consist of 204-luxury apartments in a vibrant and eclectic urban Melrose District neighborhood positioned within walking distance of Indian Steele Park, light rail as well as numerous locally owned shops and restaurants. Included in the property’s luxury amenities are several that were selected by public vote in 2015, which include a resort-style pool and spa along with an outdoor kitchen and gas grills. P.B. Bell also worked with the Seventh Avenue Merchants Association on plans to reserve three display windows at the property to spotlight community-curated work and displays.

The Osborn

DEVELOPER: Trammell Crow Company; High Street Residential

GENERAL CONTRACTOR: Chasse Building Team

ARCHITECT: ESG Architects

LOCATION: SWC of Seventh Avenue & Osborn Road, Phoenix

SIZE: 190-units; 45,000 SF (retail)

START/COMPLETION: July 2017 – August 2019

The Osborn is a mixed-use grocery anchored retail shopping center and multifamily development. The project sits on a 5.96-acre site located in the heart of Midtown Phoenix where the city’s oldest Bashas’ grocey store, originally built in 1956, used to be located. The site benefits from immediate adjacency to many major employers, desirable affluent neighborhoods, abundance of social venues and high visibility with over 50,000 vehicles passing per day.

Uptown Plaza

DEVELOPER: Vintage Partners

GENERAL CONTRACTOR: Kitchell

ARCHITECT: Nelsen Partners

LOCATION: 100 E. Camelback Rd., Phoenix

SIZE: 116,787 SF

START/COMPLETION: 2014 – June 2016

The Valley’s first retail center located outside of Downtown Phoenix is being restored to its former glory and street appeal as a result of wall-to-wall renovations over the last three years. The property’s renovation aims to restore this iconic shopping center — originally constructed in 1955 by the Del Webb Co. — to its stylish brick-lined, mid-century roots and appeal. The 11-acre renovation includes restoring the original brick façade, adding new landscaping and successfully securing a variety of local, regional and national tenants like Shake Shack, Lou Malnati’s Pizzeria, Huss Brewing Company’s flagship taproom, Creamistry, Flower Child and more. The latest phase included updates to the exterior of AJ’s Fine Foods.

The Grid

DEVELOPER: ABI Multifamily

GENERAL CONTRACTOR: Alexander Building Company

ARCHITECT: Corgan

LOCATION: 5227 N. Seventh St., Phoenix

SIZE: 16,281 SF

VALUE: $3M

START/COMPLETION: Q4 2017 – Q2 2018

The two-story adaptive reuse project will transform the former Uptown Phoenix office building into a refreshed Class A office for ABI Multifamily on the top floor and co-working space on the first floor. A large multipurpose room will be used for entertaining, training and a yoga room open to the community. The design repurposed raw industrial materials, while still maintaining a sleek modern feel. In addition, a perforated metal canopy and second skin will be added to create new dynamic exterior spaces while protecting the building from the harsh summer sun of the desert.

Dignity Health Third Avenue Parking Garage Expansion

DEVELOPER: Dignity Health

GENERAL CONTRACTOR: JE Dunn Construction

ARCHITECT: GLHN Architects & Engineers

LOCATION: 2929 N. Third Ave., Phoenix

SIZE: 177,000 SF

VALUE: $11M

START/COMPLETION: December 2017 – July 2018

While the area’s public transit options like buses, light rail and Grid bikes have made commutes easier, parking is often a top-concern for companies and tenants considering a move to the Central City. That’s why the Dignity Health’s St. Joseph’s Hospital and Medical Center in Phoenix is embarking on a campus-wide parking solution that will add approximately 500 new spaces.

Park Central

DEVELOPER: Plaza Companies; Holualoa Companies

GENERAL CONTRACTOR: DPR Construction

ARCHITECT: richärd+bauer architecture

LOCATION: 3121 N. Third Ave., Phoenix

SIZE: 337,000 SF

VALUE: $57M

START/COMPLETION: Q4 2017 – Fall 2018

“Our goal is to transform Park Central into a truly innovative and exceptional work environment for companies in the ‘New Economy,’” says Sharon Harper, president and CEO of Plaza Companies, which also led the the successful transformation of the Los Arcos Mall in Scottsdale into the ASU Scottsdale Innovation Center – SkySong. As Phoenix’s first-ever mall, Park Central benefits from an exceptional location and unique retail history. In total, 337,000 square feet will be revitalized into several distinct districts, each with its own identity.

If you are interested in a free consultation to see if buying a Phoenix home is a better option for you, please call or email me today. You may be surprised at what you learn. I have access to programs that offer down-payment assistance with money you do not have to pay back.

Whether you’re buying or selling a home in Central or Downtown Phoenix, or just have some questions about anything at all in or about any one of the historic districts in Phoenix, I’d be very happy to help you! Just call or email me anytime.

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Vintage Culture Expanding In Downtown Phoenix

May 2, 2016, 6:00pm MST

Anyone who has driven through downtown Phoenix recently has seen the construction on every corner and dozens of new restaurants and coffee shops.

Contrastingly, if they drive four miles north of downtown along 7th Avenue, they’ll encounter a neighborhood with rich history and 20-year-old small businesses surrounded by historic districts like Woodlea and Pierson Place.

The Melrose District In Downtown Phoenix, AZ

The Melrose District, nestled between Camelback and Indian School roads, is a place to shop for vintage clothing and antiques, eat at locally-owned restaurants and service your car at an old-school auto body shop. It might stick out like a sore thumb in comparison to the new developments downtown, but that’s exactly what has made the district so successful over the years.

Melrose prides itself on being “a shining star in the Metro Phoenix area,” but what really shines is the rich vintage culture there. What makes vintage work so well in the Valley? Some store owners in the district say it’s because of Phoenix’s unique history, the supportive community and being able to adapt to change.

Phoenix’s unique history

More people are buying and selling vintage artifacts than ever before, according to a study by The Association of Resale Professionals. In fact, the U.S. resale industry has seen an average growth of 7 percent each year since 2012. Many cities have hopped on the vintage trend, and Phoenix in particular has become a destination for some of the best quality vintage at a cheap price.

Arizona’s southwestern roots make it a prime location to find vintage vests, cowboy boots and denim. Phoenix specifically is well-known for its mid-century modern architecture, which makes vintage furniture highly sought after too.

Retro Ranch owner Indigo Hunter said customers often come through her store looking for 50’s, 60’s and 70’s pieces.

“A lot of people have ranch-style homes, and the furniture works in it because it’s scaled properly,” she said.

Sarah Bingham, co-owner of Antique Sugar, said high rates of retirement and the ideal climate in Arizona also benefit the vintage culture.

“People come here to retire from all over the country, and then when they get here they have all their fabulous clothes,” she said.

Due to the abundance of vintage clothing in Arizona, Bingham said store owners can afford to sell their merchandise for cheaper prices than you’d find in Los Angeles or New York.

“And the climate’s really good…we don’t lose a lot of our stuff to rot because it’s dry here,” she said.

The district’s supportive community

The tight-knit community within the Melrose District is another reason vintage culture has lasted in the Valley. The majority of the district is made up of passionate small business owners as opposed to “big boxes,” as Hunter calls them.

“A lot of those are vintage and antique shops, and you kind of feel like that’s our tribe,” she said.

Bingham said she’s been to other towns where the resale industry is cutthroat, but that’s not the case in the district.

“We actually go out for cocktails with all the shop owners often,” she said.

Jeanne Wiesley, the owner of Pearly Mae’s, agreed that the Melrose community is uniquely friendly. Wiesley moved her store to the district in 2014 and said she was instantly welcomed with support.

“Everybody encourages everyone else’s success,” she said.

For instance, if she doesn’t have an item that a customer is looking for, Wiesley said she will happily send them to another store in the area because they would do the same.

Michael Hardesty said he experienced a similar camaraderie when he bought one of the largest vintage stores in the district, Zinnias at Melrose, in 2009. Hardesty even received advice from some of the shop owners on the ins and outs of the neighborhood and how to make his business last.

Adapting to a changing environment

Despite the district’s overall success over the past two decades, not all businesses have stood the test of time.

“Stores are going to come and go, and that’s not necessarily a red flag,” Hardesty said. “It’s just life.”

“Everything’s changing all the time,” Hunter said. “You pretty much always have to stay on your toes and be aware of what’s going on.”

One way Hunter and the other store owners have kept their businesses alive is by going online to cater to a younger demographic. For some of the owners, the prospect of going online is intimidating initially, given their longtime comfort with in-person interactions. Even so, having a digital presence has helped financially.

Wiesley said she recently started selling more of her inventory through Ebay and Etsy accounts during the summer.

“It’s a new world for me, but if it pays the bills we’re going to do it,” she said.

Another way vintage stores in the district have adapted is by pushing heavily on social media. In lieu of print advertising, Hardesty said he advertises aggressively on social media and through email campaigns.

“Social media has helped a lot and really developed our brand,” he said.

For stores that make a living off of vintage artifacts, developing a strong brand is particularly important with all of the new development downtown. Fortunately, the vintage store owners see more opportunities from Phoenix’s development than threats.

Bingham, who recently relocated her store from the district to a new downtown building, said business is better than ever. In fact, she credits the changing environment to some of the store’s recent success.

“I say the more people the better,” Bingham said.

Wiesley moved to Phoenix in 1979, when she said people hardly ever went downtown. With the recent revitalization taking place, she’s shocked to see so many people walking around.

“I would rather have a high-rise there and show growth and potential in what our city can be to young and old,” she said.

Hunter is also in support of the developing culture, but cautions against too much change.

“I know that they’re building up downtown, but we still have to take care of the culture and the small business and not make it too corporate,” Hardesty said. “People are in business to make money, so it’s tough.”

Phoenix’s recent cultivation coupled with the need to grow digitally to continue making profits presents new-age opportunity to an old-age culture. But with a supportive community and unique history to back it up, the owners believe Phoenix’s vintage culture will continue to prosper.

“I think there’s always going to be a place for vintage,” Wiesley said.

PIERSON PLACE HISTORIC DISTRICT

Pierson Place Historic District boundaries are roughly Camelback Road and the Grand Canal, Central and 7th Avenues in Phoenix, Arizona. The Light Rail wraps around this fantastically located historic district.

The architectural styles and square footage in this neighborhood is what I call a mish-mosh of a historic district, but in a good way. Early neighborhood styles include Bungalows and a number of different Period Revivals. English Cottages, Pueblo Revival, Spanish Colonial Revival, and Southwest Style houses are all found within the neighborhood.

Most of the buildings in the proposed Pierson Place Historic District are single family houses. However, A range of architectural styles reflects several decades of build-out. Early modern designs, including an Art Modern house and several International Style houses are also found in Pierson Place. In the late 1930’s and 1940’s, and the early 1950’s, the district continued to build out with modern Ranch Styles. The Transitional Ranch, French Provincial, Early, and Simply Ranch sub styles are well represented in the neighborhood. Fifteen-percent of the properties in Pierson Place are multifamily complexes, comprised of collections of detached single family buildings, duplexes, triplexes, and four-plexes. The original footprint of the single-family homes tend to be small, often less than 1,000 square feet with 2 bedrooms and 1 bathroom, or, up to 3 bedrooms.

The building materials used are also a mish-mosh. A house may be made of brick or block or wood frame or Adobe. Additionally, The original mix of these different dwelling styles give Pierson Place Historic District a unique personality that feels more city-like than most of our historic districts. To that original mix, sprinkle in some multi-unit rentals built during the 1950’s and 1960’s, and the very first high-rise living in the city at the 17-story Landmark Towers on Central.

Pierson Place has a wide variety of mixed-use properties with construction materials ranging from wood to Adobe with a wide variety architectural styles which makes this neighborhood so unique.

Pierson Place Historic District Homes For Sale

Pierson Place Historic District History

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