Watt Communities of Arizona today announced that it has reached 100 percent sold out at Dorsey Lane, the residential townhome community near downtown Tempe that marked the company’s entrance into Arizona’s upscale urban infill housing market. Today, Watt’s presence has expanded into a $73 million project pipeline, with six properties either under construction or now selling in submarkets across metro Phoenix.
“It has been a very busy few years,” said Steve Pritulsky, president and CEO of Watt Communities of Arizona. “We broke ground on Dorsey Lane in late Spring of 2015 and began home sales last April. Since then, we’ve averaged one unit sold per week to a broad buyer mix. That was a great sales pace and makes us feel very optimistic about the additional projects in our Phoenix-area pipeline.”
Dorsey Lane totals 51 contemporary, three-story urban townhomes located just south of the southwest corner of Broadway Road and Dorsey Lane in Central Tempe. Townhomes at Dorsey Lane range from 1,400 to 1,800 square feet. Each is designed with a private two-car garage and includes a gated entry, pool/ramada/ sundeck, outdoor poolside kitchen and landscaped paseos.
With its location minutes from Arizona State University, the Mill Avenue/Tempe Town Lake employment corridor and the Loop 101, 202 and US 60 Superstition freeways, Dorsey Lane has attracted a range of buyers. “We have a huge range of residents living here. Everyone from students and young professionals to our buyers who have downsized for a lock-and-leave lifestyle,” said Pritulsky. “It is a fabulously diverse community.”
“Our goal has always been to provide upscale living with the amenities of an urban lifestyle, but at a more affordable price point,” said Paul Timm, chief operations officer for Watt Communities of Arizona. “Our success at Dorsey Lane proves this is possible – that there is a strong and broad demand for the type of homes and living environments we’re building.”
Pricing at Dorsey Lane began in the high $200,000s. Watt is also now actively selling units at Biltmore Living, a community of 40 urban townhomes mirroring the layout and amenities of Dorsey Lane, but located in the sought-after Camelback Corridor, less than one mile south of 24th Street and Camelback Road. Pricing at Biltmore Living starts in the low $300,000s.
Other active Watt Communities projects include:
• 32 North, a community of 31 two-story, single family detached patio homes now under construction near 32nd Street and Cactus Road in North Phoenix, set to deliver in early Summer.
• 16 Ocotillo, an upscale, single-family detached patio home project that broker ground in December at 16th Street and Ocotillo (just south of Glendale Avenue), in the 51 Corridor between North Central Phoenix and the Biltmore area.
• 8th & Row, a 35-unit townhome community that broke ground this spring in Downtown Phoenix’s Roosevelt Row District.
• View 32, an upscale, for-rent apartment community near 32nd Street and Shea Boulevard – and North 32nd Street Corridor’s first new urban apartment project in decades – set to break ground in the late first quarter.
Watt Communities of Arizona continues to evaluate other sites in key Metro Phoenix urban infill and close-in suburban submarkets, with the goal of developing additional quality, attached and detached for-sale and rental apartment communities.
