Presidio and Family Development Join Forces in Scottsdale
- Nov 12, 2015
A Scottsdale community developed by a joint venture consisting of Presidio Residential Capital and Family Development is slated to open its first model homes later this month. The Ridge at Troon North, a project that has an estimated retail value of about $30 million, will reach full build-out in the spring of 2017. The new community is the joint venture’s first development.
The Ridge at Troon North will offer a total of 66 units, in the immediate proximity of Troon North Golf Club in Scottsdale. The thirteen buildings, each featuring five condo units, will be located on the golf club’s fairways, on Dynamite Road, roughly two miles east of Pima Road in the North Scottsdale submarket.
Residences at The Ridge range in size between 1,381 and 2,088 square feet, and the unit mix consists of two and three-bedroom homes, most of which include two-car garages. Pricing will begin in the low $300,000s, while larger homes will reach the low $500,000, the developers announced.
Residents have access to an amenity package that consists of a community pool and spa, a fitness center, gated entry and a barbecue area. In-unit fixtures include ceramic tile, carpeting, granite countertops, Bosch appliances, low-E windows, A/C, low-water toilets, while exterior fireplaces are optional.
Family Development separately developed 35 residences on the premises, and has also sold off its stake in the nearby Pinnacle Pointe development. Following the completion of The Ridges, 100 homes will be available at the site.