Portico Receives Scottsdale Development Review Board Approval, at 87% Reserved in Initial Release
By Christina Caldwell -
Thursday Jul 14, 2022
Belgravia Group, Chicagoâ€™s award-winning real estate developer with more than 70 years of luxury developments constructed under its brand, has received Scottsdale Development Review Board (DRB) approval for its first-ever Phoenix metro community development, Portico, located in North Scottsdale. Portico anticipates breaking ground by the end of this year, with first deliveries anticipated in early 2024.
Located in the highly desirable area northeast of Scottsdale Road and Loop 101, Portico has quickly become the Valleyâ€™s most desired luxury condominium community. In just a matter of weeks, even before opening its sales center, 87% of the homes initially released are reserved. Sales success for the property speaks to Belgravia Groupâ€™s sterling reputation and its partnership with the Phoenix-based brokerage, Cambridge Properties, spearheading sales efforts for the development.
â€œThe response to Portico has surpassed our grandest sales expectations,â€ said Elizabeth Brooks, EVP of Sales and Marketing at Belgravia Group. â€œWe think our future residents will have their expectations surpassed as well â€” not only in the intricate attention to detail in our floorplans, but also the ease of Belgraviaâ€™s seamless homebuying process, including the ability for our buyers to work one-on-one with our in-house design team to personalize their home from an extensive catalog of up-to-date fixtures and materials.â€
In response to the demand for the development, Belgravia Group recently released additional buildings consisting of its most popular three- and four-bedroom plans. Porticoâ€™s three-bedroom + den plan is comprised of 2,396 square-feet of gracious, contemporary design and exquisite finishes. The four-bedroom plan includes 3.5 bathrooms and 2,768 square-feet of indoor space, plus over 500 square-feet of outdoor living space, creating a true indoor-outdoor living experience.
The $100 million+ collection of 112 luxury condominium residences, situated across nine discreet buildings, will feature stunning views of the McDowell Mountains and amenities, including an outdoor pool, upscale clubhouse and a state-of-the-art fitness center. Prices for Porticoâ€™s remaining two-, three-, and four-bedroom residences range from the $800â€™s to over $1,900,000. To learn more about the development and sign up for Porticoâ€™s VIP list, visit http://www.porticocondos.com.
Portico is a key piece in DMBâ€™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.
About Belgravia Group
Since 1947, Belgravia Group, Ltd. and its associated companies have developed over 2,500 homes, retail centers, and office buildings in Chicago with a combined value in excess of one billion dollars. With its local roots and an outstanding reputation in Chicago, Belgravia Group continues to be an industry leader during its eighth decade in business. Belgravia Group is a vertically integrated company with divisions for real estate development, sales and marketing, interior design, accounting, customer service, and a full range of real estate legal services. To learn more, visit http://www.belgraviagroup.com.
About Cambridge Properties
Founded in 1994, Cambridge Properties is recognized as one of the Valleyâ€™s premier brokers for luxury residential living. Most notably, since 2003 Cambridge Properties has closed over two billion dollars in new home sales of urban-lifestyle developments as well as single-family homes in Metro Phoenix. With over 10,000 homes sold at all price points, notable experience includes The Residences at 2211 Camelback, Esplanade Place across from Biltmore Fashion Park, and Montelucia in Paradise Valley.