Condo Conversions Slow Down In City...

Condo conversions slow down in city, from the Arizona Republic Chandler, reports that buying apartment complexes for conversion to condominiums has been a hot trend, but developers have discovered the idea is no longer a ticket to quick riches. Signs of slowing are evident at several Chandler complexes. The most successful one was the Lakeshore at Anderson Springs, which is 82 percent sold out. Elsewhere in Chandler, apartment to condo conversions are in various stages. The former Stonegate Village, 234 units at 2225 W. Frye Road is now called Symphony, and sales will start in about a month. Units will range from 729 to 1,358 square feet, with prices from the $170's to the high $200's. Cambric Court at Ray and Alma School has sold nearly 40 of its 168 units, which range from 723 to 968 square feet and priced from the $130's to the low $180's. The median price of a condo in Chandler sits at $186,500, according to the Arizona Real Estate Center at ASU.

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