|
Forget Scottsdale, Paradise Valley or the Biltmore area. The Valley's most expensive luxury apartments are now open on Tempe Town Lake. Folks willing to pay up to $5,000 a month began moving into their luxury apartments last week at Grigio, a 523-unit complex on the northern shore of Tempe Town Lake. Dolores McKay, the brand manager for Gray Development Group's Grigio Contemporary Living, described those moving in as "independent, successful people who want the amenities of a resort in the place they live. Renters include successful business people and an ASU student from an affluent local family. "If they want their dry cleaning waiting for them in their closet, we'll ask which side of the closet. If they want their hair done, a massage, coffee delivered to their door, it will all be here." "We're here for people who work very hard and want service like they get in a five-diamond resort." Units at Grigio range from 500 to 2,600 square feet. Studios start at $900 a month. There are 48 floor plans. As of this week, 10 units have been occupied and 80 are spoken for. Grigio has caught the attention not just of potential residents, but also of the Valley's real estate community. Pete Te Kampe is a senior investment associate with Marcus & Millichap, a real estate investment brokerage company. Te Kampe also is a member of the board of directors of the Arizona Multihousing Association. He said the highest average rents in the Valley are $1,013, in north Scottsdale and Fountain Hills. "Grigio now is, by far, the most expensive rental community in the Valley and it's first class all the way," Te Kampe said. "This Grigio is the Rolls-Royce of Valley apartment communities. What Gray Development is doing is inventing a new market segment for apartments." It's a market segment that appeals to one of the first Grigio residents, Torin Sixx, 34, a professional actor. He's paying about $1,600 a month for a two-bedroom apartment. "With the money I'm spending here, I could buy a house, I know," Sixx said. "But I was looking for a nice but low-maintenance lifestyle. "Right now, I need to be able to put all my forces into my career, and if I have to go on location, just be busy, I don't want to worry about mowing the lawn or someone watching a house. Here, I get the convenience and services I was looking for." McKay said that's what was intended. "We've combined the best aspects of existing residential options - apartments, condos, resorts, timeshares - and we've added the sizzle you would expect in a resort," she said. "It's contemporary architecture, with beautiful, elegant finishes. You'll see blue-pearl granite countertops, silver metallic appliances, glass-panel cabinetry and split bamboo flooring." McKay said it's not only the amenities that are selling the apartments. Grigio's location has been a huge boost. "The whole Tempe, Mill Avenue scene is a very major plus for us," McKay said. "People know how vibrant Mill Avenue is; they see how beautiful the new art center will be, know about other developments coming in downtown Tempe. "And now they want to stake their claim." |
