Fighting back against a lack of consumer interest, a Canadian-based development company will be auctioning off a luxury condominium property in Tempe, Ariz.
“We just haven’t been seeing much movement in the marketplace,” says Cindy Robinson, marketing director for West-Star Communities, a division of WestStar Properties of Vancouver. “We’re optimistic that going the auction route will change that.”
Kennedy Wilson Auction Group of Beverly Hills will open bidding for 22 apartments at noon April 10. The auction will be held at the Fairmont Scottsdale at 7575 East Princess Dr. in Scottsdale, Ariz.
Kennedy Wilson president Rhett Winchell says starting bids will range from $85,000 to $205,000 US for one-, two-and three-bedroom residences.
A year ago, WestStone said prices for the suites ranged from $350,000 to $1.2 million. But in a more recent Kennedy Wilson news release about the auction, the residences were said to be “previously priced” from $238,000 to $725,000.
“Canadians love our properties and, as we expected, we are getting auction interest from Canadians,” says Robinson,
WestStone is the developer of Northshore, a 134-unit, five-storey apartment condominium complex set against the shoreline of Tempe Town Lake.
Northshore is a 134-unit gated community surrounded by lush, tropical landscaping. Each residence features dramatic nine-and 10-foot ceilings with panoramic picture windows.
Interiors are finished with deluxe ceramic tile and carpeting, designer lighting and a full-sized laundry room.
Kitchens come with energy-saving, stainless-steel appliances, granite slab countertops, maple cabinets with under-cabinet lighting, and a spacious pantry. Balconies have glass railings and a gas fireplace.
Common areas include a fully-equipped outside entertainment/ service bar as well as a community swimming pool, fitness centre and heated spa.
The building is horseshoe-shaped and focuses on the lake and a negative-edge pool in the courtyard with cabanas, water features and a private jacuzzi.
Luxury living is on sale at the project.
“We’ve found that auction satisfaction is a two-way street — buyers can save big-time with excellent deals on quality homes, while sellers can move millions of dollars worth of homes in a single day,” says Winchell.
CHECK IT OUT
Kennedy Wilson will host a How to Buy at Auction informational seminar at the Northshore Auction Information Office at 12 p.m. on Saturday, April 3 at 945 E. Playa Del Norte Dr. in Tempe, Ariz. It will allow potential bidders to become familiar with the auction process, review the auction’s terms and conditions, have questions answered and walk through the registration procedures. Registered bidders unable to attend the auction in person can still participate and bid online.
Information is available at
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WHAT YOU NEED TO KNOW
Kennedy Wilson’s auction for 22 luxury lakefront condos at Northshore begins at 12 p.m. on Saturday, April 10 at the Fairmont Scottsdale, located at7575 East Princess Dr., Scottsdale, Ariz. It will likely last 90 minutes and registered participants are advised to arrive no later than 11 a.m. The deadline for registration is 5 p.m. on Thursday, April 8. Auction-day registrants will be limited to the purchase of only one home.