ARIZONA NEWS

Ground breaks on Portico luxury condos in Scottsdale, which are set to open in 2024

May 10, 2023, 8:00 PM

PHOENIX — A groundbreaking event was held Tuesday for luxury condos set to open next year within a mixed-use development in Scottsdale.

The lavish condominiums will bring 112 homes to One Scottsdale, northeast of Scottsdale Road and the Loop 101, starting late next summer.

Nearly half of the project has already sold, with prices ranging between $900,000 and $2 million for two-, three- and four-bedroom condos, according to a press release.

Belgravia Group will oversee development of the project, while Cambridge Properties is the brokerage leading the sales for Portico.

“With construction underway, our buyers will soon work one-on-one with our in-house design team to personalize their home from an extensive catalog of fixtures and materials,” Jonathan McCulloch, CEO of Belgravia Group, said in the release.

When finished, Portico will be nestled within a gated community and offer up to 2,768-square-foot homes, along with private terraces.

Other amenities will include an upscale clubhouse, fitness center and outdoor pool.

“We’re delighted by the response to Portico, which has exceeded our expectations,” McCulloch said.

“To have a project nearly half sold prior to breaking ground speaks to the desirability of our location, quality of product, and the overall strength of the Scottsdale market.”

Portico is part of DMB’s One Scottsdale masterplan development, which is working to include up to 2.8 million square feet of retail and office space, 2,000 residential units and 400 hotel rooms.

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Ground breaks on Portico luxury condos in Scottsdale, which are set to open in 2024