Arcadia Teardowns

The article, Tearing down to build up, from the Arizona Republic, reports that since 2005, more than 50 demolition permits have been issued in the Arcadia area where developers are buying up older homes and tearing them down to build large, modern homes. Some residents fear that this trend will change the character of the charming Arcadia area with its 1950's era homes. Part of the appeal of the Arcadia area are the larger lots, the close in location and the great views of Camelback Mountain. As a result of its superior attributes, the median price for new and existing homes in the zip code that covers Arcadia and some adjacent neighborhoods rose 150 percent between 2001 and 2006 to $500,000. Arcadia homes typically sell for over $1 million. Today's buyers want a more open layout rather than the collection of compartmentalized rooms in a typical ranch style home, said Shawn Bellamak, an Arcadia resident and real estate agent. A good acre in Arcadia costs $1.8 million or $1.9 million, said Scott Pfeiffer, president of Sonora West Development. Look for this trend to continue in Arcadia, Paradise Valley and parts of Scottsdale.

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