{"id":1004053375,"date":"2011-09-05T20:21:47","date_gmt":"2011-09-06T04:21:47","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=15703"},"modified":"2022-12-08T10:35:01","modified_gmt":"2022-12-08T18:35:01","slug":"phoenix-spends-an-encouraging-amount-of-money-on-new-homes-in-2010-census-bureau-shows","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/phoenix-spends-an-encouraging-amount-of-money-on-new-homes-in-2010-census-bureau-shows\/","title":{"rendered":"Phoenix Spends an Encouraging Amount of Money on New Homes in 2010, Census Bureau Shows"},"content":{"rendered":"

By Alex Girda, Associate Editor<\/p>\n

Even though it’s been one of the markets most affected by the recession, metro Phoenix has seen a somewhat unexpected upturn in the amount of houses needed to accommodate potential buyers. Information from the U.S. Census Bureau shows that Phoenix ranks 7th<\/sup> in terms of the value of all private housing projects authorized in 2010.<\/p>\n

The total value of those projects was around $1.7 billion, ranking the Phoenix area in the top 10 out of America\u2019s 366 largest metros. The top spenders in private housing projects were the residents, or future residents, of Houston with a total of $4.17 billion. Twenty metros out of the 366 managed to rack in over $1 billion while an additional 24, had figures somewhere between $500 million and $1 billion, The Phoenix Business Journal<\/em> reports. Total expenditures for all of the metro areas with residential construction valuations stood at $88.46 billion for 2010.<\/p>\n

Mountain Park Ranch, a luxury apartment complex situated at 13820 S. 44th<\/sup> St in Ahwatukee, was the object of a $44 million transaction. CREF Windsor LLC of Santa Monica, CA is the new owner of the residential complex after being purchased from Windsor at the Preserve LLC, a Boston-based company.<\/p>\n

Although initially the value of the deal had been undisclosed, a PBJ <\/em>article revealed the amount citing an affidavit with the Maricopa County recorder\u2019s office that indicated a sale price of $44.6 million. During the deal, the seller was represented by two CB Richard Ellis agents, Tyler Anderson and Sean Cunningham. The luxury apartment complex was built back in 1996.<\/p>\n","protected":false},"excerpt":{"rendered":"

By Alex Girda, Associate Editor
\nEven though it’s been one of the markets most affected by the recession, metro Phoenix has seen a somewhat unexpected upturn in the amount of houses needed to accommodate potential buyers. Information from the U.S. Census […]<\/p>\n","protected":false},"author":41,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1601],"tags":[],"class_list":["post-1004053375","post","type-post","status-publish","format-standard","hentry","category-latest","category-phoenix"],"acf":[],"yoast_head":"\nPhoenix Spends an Encouraging Amount of Money on New Homes in 2010, Census Bureau Shows - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/phoenix-spends-an-encouraging-amount-of-money-on-new-homes-in-2010-census-bureau-shows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Phoenix Spends an Encouraging Amount of Money on New Homes in 2010, Census Bureau Shows\" \/>\n<meta property=\"og:description\" content=\"By Alex Girda, Associate Editor Even though it’s been one of the markets most affected by the recession, metro Phoenix has seen a somewhat unexpected upturn in the amount of houses needed to accommodate potential buyers. 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