Posh Grigio Apartments at Tempe Town Lake Overlook Mud Bog After Dam Rupture

November won't come soon enough for Tempe.

If all goes well, officials say, that's when Town Lake will be repaired and filled back up.

Until then, the picturesque view of rippling water and early-morning rowers is going to be supplanted by that of a dirty, concrete-lined ditch.

And folks in the lofty offices at Hayden Ferry Lakeside and swanky Grigio apartments still will be forking over big bucks for the suddenly non-scenic overlooks.

Whether that view soon will be accompanied by a foul stench and swarms of bugs remains to be seen.

Grigio at Tempe Town Lake, said to be the priciest apartment complex in the state, is about 90 percent full. Rent starts at $925 a month for a studio apartment, according to Grigio's Web site.

We imagine some renters may now be asking for what could be called "drainage discounts."

Management at Grigio, though, say their tenants have not been affected negatively by last night's dam burst. Rather, they've "met the situation with intrigue and interest," according to a statement put out today.

Here's the whole statement:

Grigio commends Mayor Hallman, the City of Tempe and its public safety personnel for a swift and safe response. The city, Grigio and other properties had long-planned for the dam's replacement, and with last night's unfortunate failure, that plan was accelerated. Our project -- winner of the prestigious National Multi-Family Project of the Year in 2008 -- is, and will remain nearly fully leased, and we are pleased the city has plans to install the new dam and refill the lake by November of this year. Our residents were not adversely impacted, and in fact, have met the situation with intrigue and interest. Though a surprise in its timing, replacing the dam was an event that the city had thoughtfully planned and one our residents knew was on the horizon.

As New Times reported in May, Grigio's parent company, Mondrian TTL, LLC, has filed for Chapter 11 reorganization as it tries to find a new lender to prop up development loans. The company said back then that residents weren't touched by its financial problems and that it remained committed to providing renters with a "superb living experience."

That'll be slightly tougher in the next few weeks.

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Ray Stern has worked as a newspaper reporter in Arizona for more than two decades. He's won numerous awards for his reporting, including the Arizona Press Club's Don Bolles Award for Investigative Journalism.