ARIZONA NEWS

Luxury Scottsdale condo development Portico sells out months before opening

Apr 23, 2024, 4:15 AM

PHOENIX – Portico, a luxury condominium community under construction in Scottsdale, is fully sold out, developers announced Monday.

The first residents are expected to move into the 112-unit development northeast of Scottsdale Road and the Loop 101 Pima Freeway this summer.

Portico is the first Arizona project for Chicago-based developer Belgravia Group, but it won’t be the last. The company said it will soon announce plans for another north Scottsdale condo development.

“As a luxury developer new to Arizona and eager to take a prudent approach, sales for Portico outpaced all our expectations,” Elizabeth Brooks, Belgravia Group executive vice president of sales and marketing, said in a press release. “We thank our homebuyers for putting their trust in Belgravia Group, and we’re excited to start delivering these homes later this summer.”

How much did Scottsdale’s Portico condos sell for?

Construction at Portico, a nine-building complex, began in May 2023 and is expected to continue until spring 2025.

Buyers could choose from floorplans with 1-4 bedrooms, with prices ranging from $900,000 to $2 million.

The condo complex boasts a clubhouse, a fitness center and an outdoor pool and spa, as well as scenic views of the McDowell Mountains.

“It’s truly an impressive community and unlike any other homebuying experience currently in the area,” Keith Mishkin, CEO and president of Cambridge Properties, which represents Portico, said in the release.

“Belgravia Group brought its 70-plus years of residential development experience from Chicago, attracting luxury buyers — from both in state and out of state — to Scottsdale’s most admired new neighborhood.”

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Luxury Scottsdale condo development Portico sells out months before opening