The Chateau On Central is one of the few residences in Downtown Phoenix that offers both convenience and ‘live-work’ space, and banks are offering special loan programs aimed to assist medical professionals acquire these homes.
Doctors work around the clock, saving lives day in and day out. With some of the most renowned hospitals in the nation — including Barrow’s Neurological Institute, Phoenix Children’s Hospital and Banner Good Samaritan — Downtown Phoenix is at the heart of Arizona’s medical industry.
With the highest density of medical facilities in the state, the city has become saturated with doctors and physicians who want a fast and hassle free commute. These practitioners, many of which are surgeons are investing approximately 60-80 hours a week at the hospital.
The growing demand for lock and leave residences among this busy demographic has been proven through the incredible condominium sales in Phoenix. With downtown communities rapidly selling out, Chateau On Central is experiencing a wave of interest from doctors whose needs surpass what neighboring communities are offering.
To accommodate such a large influx of medical professionals capitalizing on downtown’s best properties, banks, such as National Bank of Arizona, have begun to offer specialized loan programs to medical professionals. The program introduces a new opportunity to service medical professionals in Arizona with a 95% loan-to-value option on a new home purchase or the refinancing of an existing home, with financing available up to $1.2M.
This program is exclusive to clients who qualify for Executive Banking or Private Banking with National Bank of Arizona. Both divisions within the organization will be dedicating resources to develop and grow this niche segment of business.
“At National Bank of Arizona, we believe that our specialized loan program for physicians is a great opportunity for doctors to purchase or refinance their primary residence and take advantage of these record low interest rates,” said Paula O’Neal Wichterman, vice president of National Bank of Arizona’s Medical Private Banking Division. “An added benefit is that NB|AZ provides physicians with concierge style banking by a dedicated relationship manager who can work around their busy schedules to ensure their loan and banking needs are met.”
For physicians seeking the convenience of a lock and leave lifestyle, as well as the potential for ‘live-work’ space, Chateau On Central is one of the few residences in Downtown Phoenix that offers both of these unique features. These exclusive vertical living townhomes, zoned for mixed-use residential, feature interior private elevators that service five separate levels, making the homes extremely well suited for the dual purpose approach to the “live-work” concept.
“Over the years I’ve worked with countless doctors who all share very similar needs regarding their lifestyle necessities in purchasing a home. The top priority is always convenience and the Chateau On Central community never fails to impress and surprise medical professionals who want the best of both worlds, ease and luxury,” said Keith Mishkin, owner of Cambridge Properties, broker of record for Chateau On Central. “Purchasing homes of this quality has become easier now since banks have begun offering special home loan programs aimed to aid doctors in the home buying process.”