Chateau On Central has made a lot of news in it’s relatively brief history. During the real estate boom, it was going to be the next “can’t miss” opportunity for people to spend a few million bucks on a property that would surely continue to rise in value. The project’s timing didn’t quite work out the way the original developers wanted, and financial problems put the project on hold until it was eventually sold to a new investment group. This “poster child for the real estate bust” is not unlike many other projects around the valley or around the country.
Fast forward to today and crews are hard at work to finish the exterior. A few of the home interiors are close to being completed, but the bulk of the homes will be finished according to buyer specifications. Additionally, Chateau On Central has an “award winning design center” for their high-end clientele to create the look they want.
I recently toured Chateau On Central and got a first hand look at what is coming to this luxury home market. Buyers looking for a low maintenance home, with plenty of room, in a very convenient location, will find it here. Chateau On Central consists of 21 homes ranging from approximately 5100 square feet up to 8200 square feet. Of the 21 homes at Chateau, most are said to be between 5200 – 5800 square feet, and each will be unique with different views, finishes, and other luxurious touches. According to an onsite associate, each property at Chateau has 5 separate levels and it’s own private commercial grade elevator. Living at Chateau on Central is a wonderful opportunity for people looking to be near the Heard Museum and just a short distance from the light rail station at Encanto and Central. The convenience and unique lifestyle offered here should also be a big draw for luxury home buyers interested in reaching sporting events, restaurants, plays, shops, Phoenix Sky Harbor International Airport, and more via the METRO light rail system.
While pricing is not yet published, it is said to be significantly less than the previous $2 million beginning price point. A quick search of the MLS shows us that during 2005 and 2007, properties had been offered at Chateau On Central for up to $4.5 million. While many people mistakenly call Chateau on Central a condominium complex, these are single family homes in a gated community which makes financing a home a fairly simple process.
Many details are coming soon and we should have pricing information in the near future. Please feel free to call Nick Bastian with Realty Executives at 602-803-6425 to schedule a tour of Chateau On Central.
View Homes Near METRO light Rail in a larger map
How about you buy one and I’ll live it in for you?
That would be awesome!
Or, maybe not.