VIP Packages to Attract ‘Sophisticated’ Buyers

Scottsdale’s Entertainment District is getting its first and only luxury condominium tower.

Scottsdale, Ariz.—Scottsdale’s Entertainment District is getting its first and only luxury condominium tower. To be called ENVY Residences, the tower has broken ground at 4424 N. 75th Street. It is expected to be complete in early 2016.

The Deco Communities development is a $47 million project that will result in an eight-story building with 89 limited-edition, high-end residences to the center of the art, entertainment and dining mecca known as Old Town Scottsdale.

Among its VIP services will be 24-hour concierge and security. Amenities will include a 4,000-square-foot, Lucas James-designed fitness facility, high-energy pool area with private cabanas and private owners-only entertainment area.

Also included will be a secured three-level parking garage.

“Downtown Scottsdale and the Entertainment District have seen strong growth over the last few years in the retail, restaurant and entertainment sectors,” Rob Lyles, Deco Communities developer, tells MHN.

“The expansion of Scottsdale Fashion Mall, the emerging tech employers in the Galleria—Weebly, Yelp [and others]—the vibrant start-up scene, new live event venues, the W Hotel, and the announcement of new office developments have all brought both local and national attention to downtown Scottsdale. The ENVY community was conceived to meet the demands of sophisticated urban buyers who are looking for high-rise living in the heart of the action. Lack of new product in the market over the last several years has created a significant lack of supply, which, coupled with the strong demand, made 2015 the right time for ENVY.”

ENVY offers 10 sumptuous floor plans ranging from 750 to 2,400 square feet in size. Residents feature European-style kitchens with Bosch appliances, 9- to 11-foot high ceilings, quartz countertops, backsplashes, designer fixtures and hardware, spacious walk-in closets, wood floors and large balconies.

Envy is the first concrete-and-steel mid-rise tower built in downtown Scottsdale in several years, Lyles said.

Scottsdale-based Deco Communities worked closely with the city of Scottsdale to create new building codes and development standards for this kind of project, Lyles said.

The first phase of sales conducted by Deco Communities was completed in January with the total sale of 21 ENVY condominiums.

Buyers came from Arizona, California, New York and Canada, paying prices from $350,000 to $1.4 million for residences.

They were wooed by a VIP lifestyle amenities package that is included with each new residence. The package includes private jet hours, personal trainer, front-of-the-line VIP access to the Valley’s top hot spots and access to the “Black Label” club, ENVY’s residents-only lounge. An additional 20 condominium residences are being offered for sale in Phase Two.

“The development of ENVY, along with the development of new apartment buildings and smaller residential developments in the area, will be the impetus for further growth and redevelopment,” Lyles reported. “New residents will encourage new business in the retail and service sectors, and provide the economic stimulus for redevelopment of some of the existing uses.”