There have been a lot of questions about the Tucson River Walk Town homes. Like, “What happened to them?” We have known for months they were in bankruptcy. Now they have been bought by A.F. Sterling and two other partners who have purchase the 108 lots from The National Bank of Arizona for $3.1 million.
I initially wrote about the Tucson River Walk Luxury Town homes back in August of 2007. They opened with a string quartet playing outside the models the night of the Grand Opening. These were different. How? They were three stories with a deck/loft outdoor barbecue kitchenette on the roof.
This has to be good news for those who have already purchased town homes and are living there currently.
The one thing we think would really be nice is a change of paint on the outside. There is a difference between “Standing out” and “An Eye Sore” They don’t blend will with their surroundings. I understand the idea behind the colors being bright and southwestern, but it doesn’t work.
Three story New York style town homes with these BOLD colors . . .
This is a great sign that A. F. Sterling and their investors believe there is a profit to be made in this property and the adjoined property purchased. It is always a good sign when builders are buying again especially when the economy is in recession. It means they believe it is almost over the prices are as good as they are going to get.
You can read an article from the Sunday Business section of the Arizona Daily Star right here “Town homes hold glimmer of hope”