Tannin Developments Invests $25 Million to Finish Paused Community, Prices Start at Just Over $400K
PHOENIX, May 23, 2024 /PRNewswire-PRWeb/ -- Tannin Developments proudly announces the completion of Edison Midtown, a seven-story luxury condo community at 3131 N. Central Ave in Phoenix. The final phase marks the completion of the 110-unit community, which had been paused since 2018 due to the original developer's decision to sell the project in 2021.
Edison Midtown, situated in the vibrant midtown Phoenix neighborhood and business district, comprises two buildings. Phase I, completed in 2018, includes 50 homes. The recently finished Phase II adds 60 homes across seven stories, with a mix of one- and two-bedroom and two-bedroom plus den floorplan options. Each home features modern design elements such as quartz countertops, stainless steel kitchen appliances, expansive cabinetry, and 10-foot ceilings.
Homes are priced starting at $419,900. All 50 homes in Phase I have sold, and 29 of the 60 homes in Phase II have either closed or are in escrow.
Founder & CEO of Tannin Developments, Dale Regehr, purchased Edison Midtown in 2021 with a vision to revive the project. "Edison Midtown immediately caught my attention when I was exploring opportunities in Phoenix," said Regehr. "The location is phenomenal, the vibe around the property is lively and unique, and I knew my team could transform it into something exceptional. I'm thrilled with the results."
Regehr, a successful real estate developer for nearly 25 years with projects across Canada and the U.S., acquired the property for $2.2 million. With Phase I complete and Phase II's parking garage constructed, he collaborated with Ray Burstein of Humphreys & Partners Architects from Costa Mesa, Calif., along with existing consultants and engineers, investing just under $25 million to complete the community.
Edison Midtown offers residents a wealth of amenities, including a 2,000 square foot fitness center, a 50-foot lap pool, an outdoor yoga area, an outdoor kitchen and BBQ area, a resort-style third-story heated pool with lounges and daybeds, a fire pit with lounge seating, gated garage parking, and electric vehicle charging stations. The pet-friendly community also features a pet washing station.
The surrounding neighborhood is dynamic, with walkable access to restaurants and retail, including the Park Central mixed-use retail center and Creighton University Medical School, among other popular dining and retail outlets.
Condo sales are managed by The Cavanaugh Luxury Group with The Agency. To schedule a private meeting, please contact Marilyn Cavanaugh at [email protected] or (602) 859-5999, or Jim Cavanaugh at [email protected] or (602) 859-3287.
For more information, visit http://www.liveatedison.com.
ABOUT TANNIN DEVELOPMENTS
Tannin Developments is a Canadian-based luxury development company that was founded in 2013 by Dale Regehr. Since its inception, Tannin has developed more than 14 single-family and multi-family communities across Canada and the U.S. Tannin's name has become synonymous with sustainable materials, forward-thinking design, uncompromising principles and passionate people. For more information, please visit tannindev.com.
Media Contact
Melissa DiGianfilippo, Tannin Developments, 480.250.4315, [email protected], https://serendipitconsulting.com/
SOURCE Tannin Developments
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