Condo Capital Solutions, Inc. (CCS) of Colorado recently began construction of a new building at Corriente Residences on E. Indian Bend just east of N. Scottsdale Rd.
The construction of “Building 6” represents one of the first developments of luxury condominiums in the Scottsdale market in recent years. In addition to the start of construction, pre-sale of units is underway with many of the pre-constructed units under contract. Building 6 represents the first of five additional buildings in this final phase of Corriente Residences.
“The construction of the next phase at Corriente is a unique opportunity to purchase new construction in Scottsdale,” says Nathan Ottosen, sales associate at Corriente Residences. “The area has long been built out but remains a desired residential area. We’re giving people an opportunity that hasn’t been seen in many years.”
“Real estate inventory levels are quite low in the Scottsdale market and demand for luxury condominiums is high,” says Peter Wells, principal at CCS. “This is a trend that we’ve seen in many markets nationwide and spurred our decision to begin the final phase of Corriente’s master plan.”
Corriente offers four floor plans ranging in size from 1,048 SF, 1-bedroom/1-bath units to 1,547 SF 2-bedroom/2-bath units with a study area. Prices start in the mid-$200,000 and range to the mid-$400,000.
Residents will be able to enjoy views of the adjacent public golf course, Silverado – which offers owners an opportunity to play 18 holes of golf right outside their door. Additionally, views of the McDowell Mountain Range and lake views are also available. Corriente’s resort style community also offers owners underground parking, interior elevators, a heated pool and spa, community clubhouse and fitness facility.
CCS purchased the remaining 21 units and entitlements for future development in 2010.