Belgravia Group, Chicago’s award-winning real estate developer with more than 70 years of luxury developments constructed under its brand, announced that its first-ever Phoenix metro community development, Portico, located in North Scottsdale, is more than 60% reserved.
Portico anticipates breaking ground by early 2023, with first deliveries anticipated in early 2024. In its first phase, Portico was 87% sold in just three months, prompting the developer to release the balance of the development for sale. The staggering sales numbers indicate a strong demand for luxury housing in the North Scottsdale community.
“Portico is our first development in the Phoenix market,” said Elizabeth Brooks, EVP of Sales and Marketing at Belgravia Group. “Belgravia’s principals have spent several years enjoying Scottsdale in their personal lives, and now our team is excited to bring to Scottsdale the same development expertise and quality that we have delivered in Chicago for over 75 years. Our sales pace has more than surpassed our expectations. Now, we look forward to delivering the same seamless homebuying process, quality and white glove service that is at the core of what Belgravia Group does best.”
Located at the highly desirable area northeast of Scottsdale Road and the Loop 101, Portico has quickly become the Valley’s most desired luxury condominium community. Sales success for the property speaks to Belgravia Group’s sterling reputation and its partnership with the Phoenix-based brokerage, Cambridge Properties, spearheading sales efforts for the development.
“We continue to be astounded by real estate sales numbers in North Scottsdale, and we’re especially proud of the way Portico has sold in this community,” said Keith Mishkin, CEO and President of Cambridge Properties. “We truly believe this is a condo community unlike any other in the Valley, delivering on all essentials for the North Scottsdale lifestyle — proximity to the Valley’s best dining and entertainment, easy access to freeways and a luxury living experience combined with the North Valley’s laidback vibe.”
With the McDowell Mountains serving as nature’s backdrop, this collection of 112 luxury condominium residences, situated across nine discreet buildings, will feature luxury amenities, including an outdoor pool, upscale clubhouse and a state-of-the-art fitness center. Prices for Portico’s remaining two-, three-, and four-bedroom residences range from the $800’s to $1.9 million. To learn more about the development and sign up for Portico’s VIP list, visit www.porticocondos.com.
Portico is a key piece in DMB’s One Scottsdale masterplan development, which is planned to include up to 2.8 million square feet of retail and office space, 2,000 residential units and 400 hotel rooms upon completion.