Belgravia Group Breaks Ground on Portico in North Scottsdale
By Christina Caldwell -
Tuesday May 09, 2023
Belgravia Group, Chicago’s award-winning real estate developer, has announced the groundbreaking of Portico, the highly-anticipated luxury condominium community featuring 112 homes located just northeast of Scottsdale Road and the Loop 101.
Sales of the two-, three-, and four-bedroom condominiums have been strong, with nearly 50% of the project already sold. Initial deliveries are expected in late summer 2024.
“We're delighted by the response to Portico, which has exceeded our expectations,” said Jonathan McCulloch, CEO of Belgravia Group. “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. 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. This is what makes new construction, and buying early, such a great benefit – these buyers now get to make these homes their own.”
Belgravia Group recently received the 2023 Phoenix Agents’ Choice Award for Multi-Family Project of the Year for Portico.
The condominiums in this private gated community, designed by the award-winning international architecture firm KTGY, are currently priced from the $900’s to $2 million, and offer up to 2,768 square-feet of luxurious indoor living space along with generous private terraces. The community’s amenities include an upscale clubhouse, outdoor pool and spa, and state-of-the-art fitness center.
The McDowell Mountains serve as a stunning backdrop to the development, which is conveniently nestled in the Scottsdale Road and 101 luxury corridor. Portico residents will have exceptional access to the dining, shopping and lifestyle amenities in the immediate North Scottsdale area.
Cambridge Properties is the brokerage leading the sales for Portico.
“I wish we could bottle the magic we have experienced with 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 with Portico being such a special and unique community for the area, we believe the sales momentum will continue.”
Portico is a vital component of DMB’s One Scottsdale masterplan development, which, upon completion, is expected to include up to 2.8 million square feet of retail and office space, 2,000 residential units and 400 hotel rooms.