44 Monroe – What's Next?

44 Monroe could be a poster child ( yes, one of many ) for the “can’t miss” real estate boom of just a few years past. Construction on the 34 story tower began in 2005 and was completed in 2008. If you know anything about the real estate market during that time, you probably won’t be surprised to hear that there are reports of a 5% occupancy rate in 2009. Another little tidbit that probably won’t surprise you is the fact that a trustees sale was filed in 2010 and that there are some big changes at 44 Monroe coming up in the very near future.  This past week, I was given a tour of 44 Monroe and given details of what is next for 44 Monroe in the coming weeks and months. Sales should begin soon and pricing is said to be “very competitive” for the project.

To me, the term “very competitive” brings many questions that will be fun to investigate further. While it is sad to hear of stories of many people that lost deposits or lost homes at 44 Monroe, it is interesting to think of new people moving down to the “heart of Phoenix” in what is arguably the most “urban living” experience in downtown.

View 44 Monroe Condos Phoenix in a larger map

As for location, the 44 Monroe building could fit a lot of different lifestyles.

People working downtown, it is convenient. Many city and government buildings are near by, many large corporate offices are close or are located along Central Avenue. Getting to the airport is just a quick and easy trip.

ASU students that have plenty of their parents money burning a hole in their pockets.

People that like to be close to downtown. 44 Monroe is near the arenas for the Suns and Diamnodbacks, Symphony Hall, the Downtown Public Market and many, many other attractions. Being “surrounded” by four light rail stations also gives residents easy access to the Mill Avenue District and to restaurants, shops, parks and seemingly endless destinations along the 20 mile route.

The views from 44 Monroe are hard to beat. Mountain views, city views, views of the airport and more are found here. Below, I have a slide show from interior photos and of some of these amazing views at 44 Monroe. Take a look.

Soon, I will be getting the new pricing details… I’m curious to see what that view will look like. :)