Lofts Hit Their Stride

Dubbed the McLoft in this article, the loft is being built from scratch in the suburbs. For the displaced New Yorker or Chicagoan who doesn't want to step out onto a busy street, a new type of condo is coming of age in Scottsdale, AZ and other unlikely places. Buyers are paying as much as 50% more per square foot for a loft over a single-family home. For builders this is a great return on a projects where they don't have to meet such strict codes as in other multifamily dwellings, and some buyers want raw, unfinished space. If you're looking for lofts, try Long Beach where you can have real converted space in a not too urban city area.