• Home
  • Blog
  • Contact
  • Facebook
  • Twitter
  • Google +
  • Flickr
  • You Tube
  • Nick Bastian

Rail Life

Phoenix Light Rail News and Information

  • About RailLife
  • Events
  • Homes Near Light Rail
  • Phoenix Light Rail Map
You are here: Home / Homes Near Light Rail / Centerpoint Condos Still In Limbo

Centerpoint Condos Still In Limbo

November 5, 2010 by Rail Life 2 Comments

Many people around here did the happy dance back around September when it was announced that the Centerpoint Condominium tower had been sold. The talk of bringing luxury rentals to the Mill Avenue District was welcomed with open arms by business owners, city leaders and just about anyone else watching this failed project.

It is being reported that the deal Centerpoint Tower deal has hit a snag and that there is an issue with approximately $20 million in liens on the property.

According to the Business Journal article, “the question surfaces about whether any viable deal is possible given the title issues.”

This has to be a huge bummer to MANY people on the developers side, the side of the title company ( not) insuring the transaction and to the many people looking forward to the completion of Centerpoint.

The story says the developer is upset with Fidelity National Title for not allowing them to proceed. Apparently, there are claims of numerous contractors and subcontractors having filed more than $21 million in mechanics liens against the Centerpoint project.

Obviously, there are two sides to every story. I sincerely doubt that Fidelity doesn’t want to close this deal and I am pretty sure Zaremba wants it to close. I spoke with a hotdog at Fidelity today and was told they don’t have a comment at this time. Once that changes, I’ll try to update the information. Interestingly enough, There is a great view of Centerpoint from the Fidelity corporate offices at Hayden Ferry.  I’m sure they will be keeping a very close eye on the situation.

For now, we can continue to see a vacant Centerpoint Tower. Hopefully, the lawyers figure out exactly what is next and there is a resolution to this mess soon. Anyone got an extra $20 million laying around to help get er’ done?

Unfinished Centerpoint Towers Tempe AZ

Filed Under: Homes Near Light Rail, urban living Tagged With: Centerpoint Towers, mill avenue, Tempe Light Rail

About Rail Life

Here at RailLife.com we like to say, Your Life Is On The Line! We enjoy talkin events, restaurants, real estate and cool stuff along the Phoenix light rail line:
Please have some fun and follow along with us on Twitter!

Comments

  1. Josh - A Phoenix SEO Consultant says

    November 5, 2010 at 5:56 pm

    As someone who walks by these buildings every day, it’s frustrating that they are being grossly under utilized. Of course, why didn’t any one mention the title problems when they were going out of business? It’s likely the cash infusion has sussed out people who have already written off these monstrosities as a loss, and are looking for a pay day. I’m confident capitalism will work everything out in due time.

    Reply
    • Rail Life says

      November 6, 2010 at 12:35 am

      I agree, capitalism should work everything out… After the lawyers have their say.
      The liens / title issues are probably from people that are owed money for work and they would not have been a problem when the last title insurance was issued.
      This is going to be very interesting to watch. It might be painful for some but it is sure to be interesting.

      Reply

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RailLife

Thanks for visiting RailLife.com! We want to be your resource for all that is light rail in Arizona. Here, we share information about “life along the line.” Feel free to cruise around and to bookmark the site as information is added or changed often!

RailLife Uber Code

Good for $20 off your first ride with Uber! Use Promo code: RAILLIFE OR click here to get an Uber account: RailLife Sign up code

Search RailLife

Search for Homes

Looking for a home? Search NickBastian.com for your future home.

Homes Near Light Rail

31 Listings
2102 W BERRIDGE Lane, Phoenix, AZ 85015

$670,000 2102 W BERRIDGE Lane
Phoenix, AZ 85015

144 W ELM Street, Phoenix, AZ 85013

$670,000 144 W ELM Street
Phoenix, AZ 85013

540 W Mariposa Street, 1, Phoenix, AZ 85013

$749,999 540 W Mariposa Street, 1
Phoenix, AZ 85013

1308 E Monroe Street, Phoenix, AZ 85034

$489,900 1308 E Monroe Street
Phoenix, AZ 85034

102 W HIGHLAND Avenue, Phoenix, AZ 85013

$789,000 102 W HIGHLAND Avenue
Phoenix, AZ 85013

305 W CORONADO Road, Phoenix, AZ 85003

$845,000 305 W CORONADO Road
Phoenix, AZ 85003

previous next

MLS IDX Listing Disclosure © 2023

Copyright 2023 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

Lakeside Living

7 Listings
140 E RIO SALADO Parkway, 102, Tempe, AZ 85281

$520,000 140 E RIO SALADO Parkway, 102
Tempe, AZ 85281

120 E RIO SALADO Parkway, 404, Tempe, AZ 85281

$1,100,000 120 E RIO SALADO Parkway, 404
Tempe, AZ 85281

945 E PLAYA DEL NORTE Drive, 1027, Tempe, AZ 85288

$599,900 945 E PLAYA DEL NORTE Drive, 1027
Tempe, AZ 85288

140 E RIO SALADO Parkway, 203, Tempe, AZ 85281

$949,000 140 E RIO SALADO Parkway, 203
Tempe, AZ 85281

420 W 1ST Street, 323, Tempe, AZ 85281

$460,000 420 W 1ST Street, 323
Tempe, AZ 85281

140 E RIO SALADO Parkway, 211, Tempe, AZ 85281

$449,000 140 E RIO SALADO Parkway, 211
Tempe, AZ 85281

previous next

MLS IDX Listing Disclosure © 2023

Copyright 2023 Arizona Regional Multiple Listing Service, Inc. All rights reserved. Information Not Guaranteed and Must Be Confirmed by End User. Site contains live data.

RailLife Posts

Looking For A REALTOR To Rock The Rail Life

Nowhere To Eat In Downtown Mesa

Could Coyotes Help Expand Tempe Streetcar?

Scott Smith Remaining as Valley Metro CEO

Banta Lawyers Up – Sues Valley Metro for $1.65 Million

© 2023 · RailLife · Developed by Marketing Press