The real estate market is slowing down.
With prices rising and a number of high-profile properties coming up for sale, Phoenix Real Property Group is struggling to stay afloat.
But it has the backing of investors like John Pritzker, who is the chairman of Pritzkers, LLC.
“I am optimistic that we will see the market move more quickly than the current pace,” Pritzkis investment arm, Pritzky Enterprises, told The Independent.
Pritzking said that a few of the properties being discussed were on the verge of being completed.
“The market has become so much more focused on luxury housing. “
I think that is the right direction for the market.” “
The market has become so much more focused on luxury housing.
I think that is the right direction for the market.”
The realty group is working with the Arizona State Housing Authority to develop the property, which it hopes to turn into luxury homes and apartments.
The property would sit in a “prime” location on the outskirts of downtown Phoenix, which has become the hottest real estate area in the country.
It would also feature a spa, a fitness centre, and an oceanfront swimming pool.
Pitzker Enterprises has invested around $30 million to date, which is on top of $100 million that the group had already put into the project.
“This property will have everything that you need to attract an audience of wealthy investors and a premium price point,” Pitzkis said.
But there is a lot more to come for Phoenix Real. “
People are going to want to come and live there, and there will be a lot of new development going on.”
But there is a lot more to come for Phoenix Real.
“If we are successful in this, I would love to see more of this kind of development going forward in Arizona,” Pritkers said.
“The key thing is to develop these properties in the right locations, so that they are really positioned to be the future home of the Phoenix metropolitan area.”
Phoenix Real Properties has put together a list of 25 properties that it hopes will make up the next wave of new developments.
“What we are working on right now is a list that includes five of the best properties in Phoenix right now,” Pritchker said.
It includes a $1.3 billion project that is already being built by another group, Prenzlauer Berg Real Estate.
Pritker said the company was hoping to complete the next phase of the project in 2021, which would see the building of two luxury apartments in the area.
Phoenix Real is also working with other developers to bring high-end apartments to the area, but said they were still waiting on approval from the city to get permits.
If the approvals come in, the new apartment complex would be called the Prenzler Berg Apartment Tower and would be designed by Gensler, which also owns the Phoenix Convention Centre and the National Harbor.
The complex is scheduled to open in 2021.