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Alison Collins (Crosby-Wright)……………………..(480) 367-1112

THE LOFTY ART OF LIVING RISES IN DOWNTOWN PHOENIX

Phoenix, Ariz. (8/12/2002 )- The launch of Orpheum Lofts, downtown Phoenix's first significant historic residential renovation offering luxury loft living directly above upscale retail shops at Copper Square has been announced by TASB, LLC, based in Denver.

The 90 Art Deco-style lofts are projected for completion in late 2003 or early 2004. Loft home sales begin this month with the leasing of the retail space soon to follow.

The upscale urban lofts and retail spaces are being crafted from the existing historical landmark formerly known as the Phoenix Title and Trust Building. This building, located at the northwest corner of Adams Street and First Avenue, dates back to 1931 and is one of very few remaining Art Deco high-rises in Phoenix. The spacious lofts will encompass 90,000 square feet of the building's total 137,734 square feet.

"We believe Orpheum Lofts presents a once-in-a-lifetime exclusive opportunity to live the urban lifestyle in one of downtown's well-recognized historic landmarks across from the Orpheum Theater in the heart of downtown," said Harvey Deutsch, TASB principal.

The 11-story brick building will be retrofitted to meet future-paced technological requirements, while preserving the authentic structural magnificence of Art Deco.
Restoration of Art Deco designs throughout the building will showcase the timeless elegance and architecture of the era. Features of the lobby include decorative metal detailing crafted during the Depression, etched glass windows, a staircase of opulent marble and terrazzo, and an ornate lobby directory reminiscent of the traditions of the period.

"Our goal is to preserve the original exposed brick, decorative terra cotta and remarkable detail in the interior, and to protect the original exterior brick, stone, granite, terra cotta and frame," said project architect Josh Comfort of Lawrence Group Architects, based in Denver.

Comfort has designed 16 projects including 1,200 loft units, primarily in downtown Denver, where renovation of old buildings for loft living has surged in popularity in the past two decades. Orpheum Lofts will reflect the style and convenience that has characterized the growth of urban living in cities such as Chicago, Seattle and Denver.

"The massive reconstruction of the building is the most ambitious project of its kind in downtown Phoenix," said Keith Mishkin of Cambridge Properties, the project's designated broker. "This is the first time Phoenix has offered the openness of loft living and the luxury of a Class A high-rise within walking distance to downtown events," said Mishkin.

Features of Orpheum Lofts include an exclusive, state-of-the-art fitness center, a heated swimming pool and spa, a conference and event room, a landscaped courtyard and a full-service business center. Valet parking and a 24-hour doorman will add to the residential building's security and prestige.

"We are utilizing architects, designers and contractors that are highly experienced in meeting the unique demands of revitalizing urban living and retail developments," said TASB Principal Norm Sheldon. "In addition to Josh Comfort's design experience in integrating loft living and real estate, we have contracted with OTL Consulting which draws on an extensive background in construction in Denver and New York City."

The principals of TASB, LLC, Sheldon, Deutsch and Joel Farkas have developed numerous residential and mixed-use projects in the Phoenix and Denver metropolitan areas.

At Orpheum Lofts, future residents can select from floor plans ranging from 712 to 1,800 square feet, plus a magnificent penthouse. They also can design their own floor plan by combining two or more lofts. The 90 loft homes are available for purchase with prices ranging from $150,000 to $1.5 million.

A fully furnished model loft unit and sales center are now open at 114, West Adams Street. For more information, call (602) 252-5120 or visit www.orpheumlofts.com.

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