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Just a few months ago, Russ Hickman was living in a five bedroom, 3 bath home in Mesa.
He's happier now, he says, with his 1,200 square foot, one bedroom condo. It's a simple matter of convenience.
"Close to the airport, close to restaurants... walking distance," Hickman said. Just some of the reasons he moved into the Hayden Ferry Lakeside condominiums in March.
The trendy complex sits right on the shores of Tempe Town Lake, a stone's throw from the old mill on Mill Avenue.
Its selling point: a lock-and-leave lifestyle with no yard work, no maintenance, and amenities ranging from a swimming pool and gym, to a demonstration kitchen and a movie theater.
"Simple things you take for granted. You have a landscaper, pool service... all those things go away here," said Sales Manager Bob Normile.
All that convenience comes with a price however. One-bedroom units start in the $600,000 range. The 5000 square foot penthouse is on the market for $5 million. Developers say residents have actually saved money on expenses like transportation and home repairs.
Developers maintain sales are strong, even in a tight market. Elsewhere in the Valley, particularly downtown Phoenix, the picture may not be as good. Several projects have been put on hold as sales slow, and financing becomes more difficult to acquire.
