Scottsdale-based Deco Communities has $200 million worth of new infill condominium developments underway or in the works in Old Town and central Phoenix. That includes a new Phoenix project on Central Avenue near Thomas Road.
Deco has broken ground on a new $47 million luxury condo development called the Envy Residences. Deco is building 89 condo units. They will price between $350,000 to more than $1 million.
The Envy project is located near Camelback Road and 75th Street in Old Town.
“With the development of Envy Residences, we are introducing a new kind of high-end living experience to the Valley, and buying activity has been robust,” said Rob Lyles, developer with Deco Communities. “Luxury condominium buyers tend to be sophisticated in their purchasing decisions as it relates to architecture, interior design, premium amenities and lifestyle offerings.”
Deco — which specializes in infill multifamily apartments and condos — is moving more into the condo segment.