Portico North Scottsdale Marks Sales Milestone with 60% of Property Reserved Before Groundbreaking
By Christina Caldwell -
Monday Sep 19, 2022
Belgravia Group, Chicagoâ€™s award-winning real estate developer with more than 70 years of luxury developments constructed under its brand, is proud to announce that its first-ever Phoenix metro community development, Portico, located in North Scottsdale, is more than 60% reserved.
Portico anticipates breaking ground by early 2023, with first deliveries anticipated in early 2024. In its first phase, Portico was 87% sold in just three months, prompting the developer to release the balance of the development for sale. The staggering sales numbers indicate a strong demand for luxury housing in the North Scottsdale community.
â€œPortico is our first development in the Phoenix market,â€ said Elizabeth Brooks, EVP of Sales and Marketing at Belgravia Group. â€œBelgraviaâ€™s principals have spent several years enjoying Scottsdale in their personal lives, and now our team is excited to bring to Scottsdale the same development expertise and quality that we have delivered in Chicago for over 75 years. Our sales pace has more than surpassed our expectations. Now, we look forward to delivering the same seamless homebuying process, quality and white glove service that is at the core of what Belgravia Group does best.â€
Located at the highly desirable area northeast of Scottsdale Road and the Loop 101, Portico has quickly become the Valleyâ€™s most desired luxury condominium community. 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€œWe continue to be astounded by real estate sales numbers in North Scottsdale, and weâ€™re especially proud of the way Portico has sold in this community,â€ said Keith Mishkin, CEO and Broker of Cambridge Properties. â€œWe truly believe this is a condo community unlike any other in the Valley, delivering on all essentials for the North Scottsdale lifestyle â€” proximity to the Valleyâ€™s best dining and entertainment, easy access to freeways and a luxury living experience combined with the North Valleyâ€™s laidback vibe.â€
With the McDowell Mountains serving as natureâ€™s backdrop, this collection of 112 luxury condominium residences, situated across nine discreet buildings, will feature luxury 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 $1.9 million. 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.