Voit Development Co. will start the $12-million condo project as pure spec, but marketing has begun for reservations and presales. The first units will deliver in early 2007. "We're trying to get as many presales and reservations as we can on this before the official opening," says Tom Kimsey, vice president of acquisition and development for the Woodland Hills, CA-based Voit. Tramonto Crossing's condos are being tagged at $190 per sf to $220 per sf.

Voit is building on an eight-acre tract that it bought a little more than a year ago along the North Valley Parkway near Interstate 17 and Carefree Highway. Kimsey tells GlobeSt.com that Tramonto Crossing's second phase is already in the works due to the marketplace's demand for the product and the lack of smaller office space on the far north side. "We'd like to start that phase just about the time we complete phase one," he says.

Kimsey says the project is designed with condos as small as 1,400 sf and go up to a full building of 8,000 sf. Voit's main market for Tramonto Crossing is smaller, professional business owners and medical practitioners who prefer to own rather than lease.