First Condos Since Downturn Signal Growth and Normalcy

Units range in square footage from 400 to 1,700.

PHOENIX—With nearly 4.4 million people, Greater Phoenix is the 13th largest metropolitan area in the US and the region’s population is expected to nearly double in the next two decades, according to city of Phoenix statistics. Located at the center of several municipalities, including Scottsdale. AZ and Glendale, AZ, Phoenix comprises 60% of the metro area population. With the population’s average age falling below 35, Phoenix is a young city with new development as well as more centralized urban redevelopment. Thanks to a young and diverse market, the region is also home to several major universities and colleges, including the University of Arizona and Arizona State University , with nearly 500,000 students. Major industries in the metro include manufacturing, tourism and business services as well as the biomedical sector, construction, transportation and utilities. Several Fortune 500 companies operate within the area such as Boeing, Bank of America, Time Warner Telecom, IBM and Intel . In addition, Phoenix’s physical infrastructure allows the city to expand at a rapid pace, with plenty of capacity to support anticipated future growth, according to a report by Avison Young . An example of the demand for housing for that growing population are condos under development that have robust buyer activity. And, that project is one of the first slated to open in downtown Phoenix since the downturn. en Hance Park Condominiums , a 59,000-square-foot project located at 1130 N. 2nd St., has already sold 50% of its 49 units with four months left of construction. The space combines efficiency, connectivity and character with units ranging in square footage from 400 to 1,700, and selling prices starting at $150,000. Located across from the expansive 32-acre historic Margaret T. Hance Park and adjacent to the Roosevelt Row arts district, en Hance Park provides easy access to area amenities including dining, entertainment, museums, local venues, Valley Metro light rail and freeways. Developer Alvaro Sande , CEO of Sencorp tells Globe.St.com: “We’re overjoyed and humbled by the surge in sales at en Hance Park. It’s inspiring to see that our commitment to the growth and prosperity of downtown Phoenix is shared by so many.” The building will consist of 49 units, including flats and lofts, with various floor plans ranging from studio to three bedrooms. The units are designed with high ceilings, European-style cabinetry and quartz countertops. Other features include walk-in closets, modern finishes, modern appliances and unmatched views. The site will include outdoor community spaces, a pool and sun deck, outdoor seating, desert landscaping and covered parking. “This is the right design, quality and size for this market,” says Sande. Project team members include Shepley Bulfinch , architect, DCK Worldwide , general contractor, Roberta Candaleria , real estate broker, formeTHIRD , project management and Headwerk , brand development.