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PHOENIX-Even as ground breaks on the $22-million, 54-unit first phase of Portland Place, high demand for condo units in the Downtown area has project developers and owners Portland Group LLC in Phoenix scrambling to commence the second portion of a three-phase project.

The first phase of the project, a six-story, 46-unit condominium tower, and two eight-unit brownstones, is scheduled for completion during first quarter 2007. According to John Hill, a partner with Portland Group LLC, the condos have sold out and there are still "300 people on the waiting list who have expressed an interest."

Situated on 2.81 acres of land, Portland Place is on Portland Street between First and Third avenues, notes Jeff Engel, project manager with the Weitz Co.'s Southwest business unit in Phoenix, which is the general contractor on the project. "They're currently in the preliminary drawings for Phase II," Engel tells GlobeSt.com. "Given that, and the lengthy waiting list, it's likely they'll break ground on phase two before the first phase is completed."

Portland Group is offering the first phase units for $355 per sf to $425 per sf, with floor plans ranging from 850 sf to 2,550 sf. Hill tells GlobeSt.com that the second phase will offer 70 units and could be completed as early as summer 2007. While there has been discussion about launching the third and final phase, no ground-breaking plans are imminent.

Still, Hill isn't surprised about the huge demand for the property. "There are a lot of people who want to live downtown, especially with the renovation of Civic Plaza and the light rail coming in," he says. Locally based DFD CornoyerHedrick is the architect for the project.

Instant Insights /

Condo Demand Outpaces Availability of Portland Place's First Phase

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