Tempe Condo Project - 6-14-2006

From the Arizona Republic:
Tempe condo projects soaring -
There are 43 building projects under way in Tempe, with the building boom coming primarily from condo projects. Constellation Group, an Australian-based company, submitted plans to Tempe for a 17- and 20-story condo towers at College Ave. and Veterans Way. The 364-unit complex would also include commercial and retail space. The project is one of eight large scale condo complexes in the works in Tempe's core, and dozens of others popping up on the outskirts of downtown and on the shores of Tempe Town Lake. Some question whether the market can really sustain all this new growth. Those doubts have growing validity as new condo complexes such as the Vale on University Drive have units still empty. Valley-wide, more than 8,000 condo units are planned or under construction. Market watchers say less than a quarter of all the lannedprojects will actually go up and sell anytime soon.

http://webmail.kw.com/horde3/services/go.php?url=http%3A%2F%2Fwww.azcentral.com%2Fphp-bin%2Fclicktrack%2Fprint.php%3Freferer%3Dhttp%3A%2F%2Fwww.azcentral.com%2Farizonarepublic%2Fbusiness%2Farticles%2F0614biz-tempebuzz0614.html