Luxury Condominium Development Portico Now 70% Sold with Prime Residences Still Available
By Christina Caldwell -
Monday Sep 11, 2023
Belgravia Group, Chicago’s award-winning real estate developer, has sold over 70% of the condominiums at Portico, the 112-unit luxury condominium project located at the Loop 101 and Scottsdale Road in North Scottsdale. The development sold 20 homes in July and August, bucking seasonal trends and maintaining the exceptional sales velocity that began after the project broke ground in May. ?
Buyers still have the opportunity to select from all two, three- and four-bedroom plan types with pricing from the $900’s to $2 million. Belgravia Group is seeing tremendous sales success with professionals drawn to the area by emerging tech and medical development, locals looking to move closer to the city’s amenities, as well as out-of-state buyers seeking a winter home.
“Buyers at this price point are looking for a home of exceptional quality, a sense of community, and a seamless homebuying experience,” said Elizabeth Brooks, Executive Vice President of Sales and Marketing at Belgravia Group. “We’ve been thrilled to find that we have buyers interested in all our floor plans, across a wide price range, without any significant concentration in a particular plan. This means we have great homes remaining across the development within all plan types. Additionally, we’ve planned events for our Portico homebuyers to provide them with opportunities to meet their future neighbors and get to know the Belgravia team. We want our buyers to experience Belgravia Group’s standard of service well before they move into their new home.”
Belgravia Group recently received the 2023 Phoenix Agents’ Choice Award for Multifamily Project of the Year for Portico.
Phoenix-based Cambridge Properties leads sales efforts for Portico and attributes a variety of well-designed floorplans, competitive pricing, and the community’s amenities, including the stunning backdrop of the McDowell Mountains, an upscale clubhouse, outdoor pool and spa, and state-of-the-art fitness center as key selling points.
“I wish we could bottle the magic we have experienced with selling Portico,” said Keith Mishkin, CEO and President of Cambridge Properties. “There’s no doubt that the demand for luxury property is high in North Scottsdale, and Portico being such a special and unique community for the area, along with Belgravia’s sterling reputation, we believe the sales momentum will continue.”
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.
Portico is estimated to be completed in Spring 2025, with initial deliveries in Fall 2024.