The Phoenix high rise, Summit at Copper Square begins delivery of high rise condos next week.
New owners of high rise condos in the 23 story, 165 unit, Summit at Copper Square in downtown Phoenix will begin receiving their keys next week. I'm already seeing tons of condominiums advertised for resale and rent. One agent has seventeen condos listed for rent. Anyone want to guess how many of those seventeen are owned my investors? If the buyer makeup at Summit is anything like what we saw at Orpheum Lofts, Optima Biltmore, and Landmark on Central then expect to see at least thirty percent if not up to fifty percent of the ownership being investor. If so, look for some reduced prices in the not too distant future.