$14 million residential development planned for Old Town Scottsdale

The groundbreaking for the El Dorado on First project in Scottsdale.
The groundbreaking for the El Dorado on First project in Scottsdale.

Toronto-based North American Development Group and Phoenix architect Will Bruder have broken ground on a new $14 million residential development in Old Town Scottsdale. The project is located near First Street and Goldwater Boulevard in downtown Scottsdale.

El Dorado on 1st development has seven multilevel residences with prices starting at $1.58 million.

Homes ranges between 3,000 and 3,500 square feet.

Developers broke ground May 11 of the high-end project, which is scheduled to be completed in early 2017.

In addition, Deco Communities has construction underway at its $40 million Edison Midtown condo development on Central Avenue in Phoenix.

Deco, which specializes in infill projects — is building 110 condos on the Edison site at Central and Monterra Way. The development is on the Metro light rail line.

The project is slated to be completed in the spring of 2017.

Information from Phoenix Business Journal

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