TEMPE, AZ – The Local, a new, mixed-use development located at the intersection of University Drive and Ash Avenue in downtown Tempe, has officially broken ground. Developed by Denver-based Forum Real Estate Group, The Local will be a unique, luxury apartment residence anchored by Whole Foods Market 365.

The nine-tale structure sits on an 80,938-square foot parcel in the heart of downtown Tempe. Occupying the ground floor will be a Whole Foods Market 365 with three levels of parking directly above: one level with reserved parking for Whole Foods Market 365 shoppers, and two additional levels of parking reserved for residents. The remaining five floors will house 286 residential apartments, averaging 739 square feet per unit.

Studio, one-, two- and three-bedroom floorplans will be available, all appointed with high-end finishes and sophisticated accents that blend vintage inspiration with modern design to offer Tempe residents something truly unique. The Local’s overall design blends exposed concrete and brick, distressed and rich wood tones, and living plant and art details to make a warm, authentic and welcoming vibe.

The Local will feature such five-star amenities as:

Resort-style, variable depth pools including a bubbling jet water table and hot tub

Lushly landscaped pool courtyard with mister-equipped cabanas, covered grilling and dining areas, sunbathing decks, outdoor TV wall, and indoor/outdoor bar

Sound-proof karaoke/music/entertainment lounge with views and access to the outdoor courtyard

Expansive fitness studio equipped with the latest cardio, weight and circuit training equipment

Separate yoga/barre/Zen studio with outdoor terrace

Cantilevered, eighth floor game and clubroom space overlooking University Drive

Intimate ninth floor rooftop sky lounge with dual-sided fireplace, catering prep kitchen, entertainment/lounge space and outdoor drink rail to capture the breathtaking views

“We are so excited to bring this offering to Tempe,” said David Clock, Development Manager at Forum Real Estate Group. “This project is the perfect fit for such a vibrant city, and we’re honored to have a presence in this community. It’s our goal that The Local and the Whole Foods Market 365 will become a right neighborhood destination.”

Whole Foods Market 365 stores focus on an affordable and convenient shopping destination. The design, technology and carefully curated product selection at Whole Foods Market 365 stores provides a streamlined and modern experience for customers, while still adhering to Whole Foods Market’s industry-leading quality standards. Customers can look forward to unique in-store venues with the “Friends of 365” program and the free 365 Rewards program to save even more.

“We are thrilled to announce that our region’s first Whole Foods Market 365 in Arizona store will be located in Tempe,” said Patrick Bradley, president, Whole Foods Market Southern Pacific Region. “Our 365 stores deliver the same quality that our customers have come to expect, but in a convenient and fun new format that provides exceptional value.”

“Our residents have been asking for a major grocery store in downtown Tempe for more than a decade and Whole Foods Market 365 is a perfect fit for The Local,” said Tempe Mayor Mark Mitchell. “This development will build on the fantastic urban living experience Tempe has to offer and brings together urban living and needed amenities in our downtown, just steps away from vibrant Mill Avenue restaurants and bars, some of our largest employers and recreation at Tempe Town Lake.”

At a groundbreaking ceremony, stakeholders, including Tempe Mayor Mark Mitchell; Tempe City Council; and, representatives from Forum Real Estate Group, Whole Foods Market 365, and zoning attorneys for the project, Sender Associates, buried a time capsule that will be unearthed in 20 years containing a variety of local artifacts to commemorate the City’s rich history. Many items for the time capsule were provided by the Tempe History Museum. Decorative shovels designed by local artists from the Art Resource Center were used to bury the time capsule and will later be showed as an art installation within The Local.

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CHARLOTTE, NC – EDENS, one of the leading retail real estate developers in the country, and Crescent Communities, one of the nation’s top multifamily developers, are pleased to announce their partnership on the development of Atherton, a mixed-use center in the heart of Charlotte’s Historic South End neighborhood.

“EDENS is excited for the opportunity to work with Crescent Communities on revitalizing this piece of Charlotte’s history,” Lyle Darnall, Managing Director of EDENS, says. “Their company values align well with EDENS, and our focus is to make a vibrant gathering place for the people of South End – one that fulfills a need and reflects the tale of the community.”

Atherton is evolving from a South End retail center, to a top Charlotte destination for dining, shopping and living – confirming Atherton as the soul of South End. The mixed-use project will offer 346 uniquely styled apartment homes, over 115,000 square feet of retail and will feature a significant expansion of the “Rail Trail” multi-use path that can accommodate public programming.

“EDENS has a track record of making some of the most distinct community-oriented retail centers in the country and we are honored to have the opportunity to partner with them on this incredibly transformational development in Crescent’s hometown of Charlotte,” said Michael Tubridy, Managing Director of the Charlotte market for Crescent Communities. “As rich and authentic as the neighborhood itself, Atherton will be a storied community that celebrates the South End’s history and future of industry, innovation and creativity.”

EDENS owns and operates a number of other successful retail developments in the area, including Park Road Shopping Center, Kenilworth Commons and Myers Park. Crescent Communities has developed six multifamily communities in Charlotte since 2008 and currently has four multifamily developments under construction in the region including Crescent Stonewall Station, Crescent NoDa, Crescent Providence Farm and the recently announced Crescent Montford Park.

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ORLANDO, FL – Florida’s housing market had more closed sales, higher median prices and more new listings in June, according to the latest housing data released by Florida Realtors. Sales of single-family homes statewide totaled 28,205 last month, up 4.3 percent compared to June 2016.

“More homeowners chose it was time to sell in June, resulting in an increase of new listings in Florida by 4.2 percent,” said 2017 Florida Realtors President Maria Wells, broker-owner with Lifestyle Realty Group in Stuart. “But, this slight increase in June is not easing the market and inventory remains tight. Homes continue to sell quickly, which resulted in an increase of pending sales, which rose 2.2 percent.

“Buyers must continue to be prepared to act quickly,” Wells added. “They need to find a Realtor to help them to navigate the choppy waters of today’s market. This will allow them to be ready to make an offer when the right property is available.”

The statewide median sales price for single-family existing homes last month was $245,000, up 8.9 percent from the previous year, according to data from Florida Realtors Research department in partnership with local Realtor boards/associations. The statewide median price for townhouse-condo properties in June was $176,820, up 7.2 percent over the year-ago figure. June was the 67th consecutive month that statewide median prices for both sectors rose year-over-year. The median is the midpoint; half the homes sold for more, half for less.

According to the National Association of Realtors (NAR), the national median sales price for existing single-family homes in May 2017 was $254,600, up 6 percent from the previous year; the national median existing condo price was $238,700. In California, the statewide median sales price for single-family existing homes in May was $550,200; in Massachusetts, it was $385,000; in Maryland, it was $295,694; and in New York, it was $239,000.

Looking at Florida’s townhouse-condo market, statewide closed sales totaled 10,996 last month, up 4.9 percent compared to June 2016. Closed sales data reflected fewer small sales and foreclosures last month: Small sales for townhouse-condo properties declined 30.0 percent and foreclosures fell 47.3 percent year-to-year; small sales for single-family homes dropped 31.5 percent and foreclosures fell 43.4 percent year-to-year. Closed sales may occur from 30- to 90-plus days after sales contracts are written.

“The median sale price among Florida single-family home sales in June was up 8.9 percent compared to last year; and the median sale price of condos and townhouses was up slightly less, increasing by 7.2 percent,” said Florida Realtors® Chief Economist Dr. Brad O’Connor.

“With sales and prices continuing to rise, it should come as no surprise that the dollar volume of sales throughout the state increased significantly this June compared to June of last year,” O’Connor added. “Statewide, closed sales of single-family homes totaled about $9.3 billion, a year-over-year increase of nearly 12 percent. Closed sales of townhouses and condos rose by a small over 11 percent to about $2.8 billion.”

Inventory remained tight in June with a 3.9-months’ supply for single-family homes and a 5.8-months’ supply for townhouse-condo properties, according to Florida Realtors.

According to Freddie Mac, the interest rate for a 30-year fixed-rate mortgage averaged 3.90 percent in June 2017; it averaged 3.57 percent during the same month a year earlier.

To see the full statewide housing activity reports, go to Florida Realtors Media Center.

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