‘Un­be­liev­able’

Calgary Herald - Calgary Herald New Condos - - Re­cre­ation & In­vest­ment Prop­er­ties -

“With the cur­rent econ­omy, there is un­be­liev­able value and the prox­im­ity is a nat­u­ral” she says. “We’ve had an in­flux in the last cou­ple of years and now have 25 to 30 per cent of our buy­ers from Canada.”

While some of the prop­er­ties have un­der­gone se­vere de­clines in value, lead­ing to many fore­clo­sures and short sales, other de­vel­op­ments have fared much bet­ter through the hous­ing cri­sis.

One of them is Aderra Con­do­minium Res­i­dences, which is one of Star­pointe’s prime de­vel­op­ments in Phoenix.

“No ques­tion, some Phoenix hous­ing has been hit by the econ­omy, but we’ve been lucky,” says Richards.

“We high­light the im­por­tance of lo­ca­tion and value, so we push those mes­sages of our qual­i­ties, and we’ve had con­sis­tent sales and prices.”

Aderra is a 312-unit condo apart­ment block that is com­pletely f in­ished in north­east Phoenix border­ing Scotts­dale and Par­adise Val­ley.

The com­mu­nity is ad­ja­cent to Stonecreek Golf Club, a pub­lic, 18-hole, links-style golf course sur­rounded by moun­tain views.

It’s also within walk­ing dis­tance of the Par­adise Val­ley mall and just a few min­utes drive from Kier­land Com­mons, an up­scale, out­door shop­ping and din­ing des­ti­na­tion that’s pop­u­lar with lo­cal res­i­dents.

The com­plex of­fers units any­where from onebed­room 811-square-foot mod­els to two-bed­room, two-bath­room and a study mod­els of 1,284 square feet.

The build­ing ameni­ties in­clude a pool and spa, un­der­ground park­ing and on-site main­te­nance and se­cu­rity. It also has a bar­be­cue area with ra­madas and re­sort-style f it­ness equip­ment.

Prices range from $175,000 to $305,000 US.

Cal­gar­i­ans aren’t the only ones en­am­oured with the project.

Henry and Linda Savoie, who are empty nesters from Saska­toon, are re­cent pur­chasers.

“We used to travel to Honolulu once a year,” says Henry.

“How­ever, as we got older, it be­came more of a has­sle to get there. We would have to fly through Cal­gary or Van­cou­ver, and then it was about a six-hour flight from there.”

The cou­ple was look­ing for a lockit-and-leave-it life­style — they also own a se­cond home in Van­cou­ver — so they wanted a condo.

They loved Scotts­dale when they vis­ited in 2007.

“We looked at a cou­ple of dif­fer­ent condo projects by Star­pointe — which of­fered its Try Be­fore you Buy pro­gram, which of­fers po­ten­tial buy­ers a chance to live in a fully-fur­nished condo for a set pe­riod of time be­fore de­cid­ing to buy,” says Henry. The Savoies did and loved it. “The main in­flu­ence in our de­ci­sion was the friendly, help­ful staff and the de­vel­oper’s rep­u­ta­tion for be­ing reli­able and hav­ing a qual­ity prod­uct,” he says.

“We were look­ing for an in­vest­ment we could use on a reg­u­lar ba­sis.”

With things like the pool and the f it­ness club, “it’s more like a re­sort— and there is the se­cu­rity,” says Richards.

“The Try Be­fore You Buy pro­gram has been re­ally suc­cess­ful. You can stay for a cou­ple of days with no obli­ga­tion to buy — but a large ma­jor­ity do buy.”

The de­vel­op­ment is next to an 18-hole golf course in Phoenix, Ariz.

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