Deco Communities Developing $37M Luxury Condos in Scottsdale, Ariz.
Deco Communities has entered into a joint venture with Castlelake and Isles Ranch to develop Envy, a $37 million luxury residential tower to be built in the heart of the Old Town Scottsdale Entertainment District.
By Keith Loria, Contributing Editor
Scottsdale, Ariz.—Deco Communities has entered into a joint venture with Castlelake and Isles Ranch to develop Envy, a $37 million luxury residential tower to be built in the heart of the Old Town Scottsdale Entertainment District.
“Nothing has been built in Scottsdale for about seven years and we believe the market is now ready,” Rob Lyles, Deco Communities’ partner and co-founder, tells MHN. “The market demographic we are going after is definitely in play—the 25- to 40-year-old group—and there’s a lot of money in Scottsdale, and we are excited to go.”
Located at 4244 N. 75th St., Envy will include 90 elegantly appointed residential units and tower eight stories to overlook the vibrant Entertainment District’s culinary, nightlife, gallery and retail scene. Units will range from 800 to 1,750 square feet and each residence will boast beautifully appointed modern amenities including European-style kitchens with gas appliances, 9- to 11-foot ceilings, quartz countertops and backsplashes, designer fixtures and hardware, oversized mirrors, deep soaking tubs and glass steam showers, spacious walk-in closets, wood floors and large balconies.
“We are thrilled about the opportunity to deliver a long-anticipated, first-class residential experience to the heart of downtown Scottsdale,” Lyles says. “Envy is luxury for the next generation, catering to the affluent millennial that wants to be at the center of Scottsdale’s electrifying 24-hour atmosphere. This is the next generation of luxury living in the heart of the city’s core.”
Envy will include a Grand Lobby with 24-hour concierge and security, a 4,000-square-foot fitness facility inspired by LA’s Equinox and David Barton gyms with lounge and juice bar, rooftop pool deck with negative edge saltwater pool, luxurious cabanas, relaxation-ready sound system and sweeping 360 degree views. There will also be an underground three-level parking garage offering private, secured parking for residents only.
“In the past, we did over 3,000 condos before the downturn and are now getting back into the condo market and we said if we’re going to do this, we’re going to have the best site,” Lyles says. “When this site became available, downtown in the middle of the entertainment district, we knew it was a great opportunity to return to the market.”
Daniel Gehman of LA-based Harley Ellis Devereaux is designing the building, which will draw inspiration from iconic projects such as the Cosmopolitan Hotel in Las Vegas. Envy’s opulent interior will by styled by Phoenix-based Private Label International.
Envy is slated to be completed in 2016.
