While I am not a Phoenix resident I have been paying attention to the high(er) density condo projects around town. The Donald and his group have been eyeing the very upscale (oo there's a surprise) Biltmore area in Phoenix. Of course now it comes out in the preliminary stages that they need the residents and the city to give them the height for thier condos that start at $500K....or they will have to go to Scottsdale.
My favorite quote in the article:
You don't often hear Chicago is a feeder to Phoenix.The development could be similar to a 90-story Trump tower planned in Chicago. Woodring said the project has been well received there.
"Chicago is sort of a feeder to Phoenix," Woodring said. "Trump can basically bring high-network people from Chicago and other Midwest areas to Phoenix with a lot of discretionary income to spend."
The vertical market is just starting here, and only at the high end. No money in the low end since they are all buying houses in sprawlville. Also today a condo project next to Bank One was revealed, but it needs a variance and FAA clearance because it is close (w/in 5 miles) to Phoenix Sky Harbor Airport.