Chicago-based Belgravia Group Ltd. has broken ground on a $100 million luxury condominium project in north Scottsdale.
With nearly 50% of the project already sold, initial deliveries are expected in late summer 2024 for the private gated community, called Portico - North Scottsdale, located within DMB's One Scottsdale master-planned development slated to include up to 2.8 million square feet of retail and office space, 2,000 residential units and 400 hotel rooms.
Designed by KTGY, Portico homes are priced from the $900,000s to $2 million, offering up to 2,768 square feet of indoor living space along with private terraces.
Community amenities include an upscale clubhouse, outdoor pool and spa and fitness center.
Cambridge Properties is the brokerage leading the sales for Portico.
• Dallas-based StreetLights Residential has opened its first apartment community in Gilbert.
The Tyler, 3150 E. Ray Rd., is within the mixed-use Epicenter at Agritopia, which includes 50,000 square feet of retail space including more than 20 unique retailers within seven shops. More are slated to open later this year.
Looney Ricks Kiss served as the architect of record and INK + ORO handled the Interior Design. StreetLights Arizona Construction LLC served as general contractor.
Monthly rents range from $1,630 for a 504-square-foot studio to $4,575 for a three-bedroom, 1,313-square-foot unit.
The 320-unit luxury apartment community is the fourth project for StreetLights, but more are on the way.
The developer is building a 400-unit luxury apartment community on top of Whole Foods at the Paradise Valley Mall Redevelopment project. Ground was broken in late 2021 for the 335-unit The Alyssa in Tempe, while the 58-unit The Bergen broke ground in early 2022 in Phoenix. StreetLights also is working on a 314-unit luxury community at One Scottsdale.
Completed projects include The Ryan, a 332-unit high-rise community in downtown Phoenix, The Cameron, a four-story, 349-unit luxury community in Tempe, and The Angela, a 253-unit community it built in 2019 and sold for $117 million in October 2020, according to Tempe-based Vizzda LLC real estate database.