Portico, the luxury condominium development in the Loop 101 and Scottsdale Road corridor, announced Monday that it is sold out. The project took only one year from writing its first binding contract to sell all of its 112 units.
Portico is award-winning developer Belgravia Group’s first project in the Scottsdale market. The nine-building community features one- through four-bedroom floor plans from the $600s to $2 million with up to 2,678 square-feet of indoor-outdoor living space. Amenities include an outdoor pool and spa, upscale clubhouse, state-of-the-art fitness center, and picturesque views of the McDowell Mountains.
“As a luxury developer new to Arizona and eager to take a prudent approach, sales for Portico outpaced all our expectations,” said Elizabeth Brooks, Executive Vice President of Sales and Marketing at Belgravia Group. “We thank our homebuyers for putting their trust in Belgravia Group and we’re excited to start delivering these homes later this summer.”
Portico’s sales success signals a strong luxury condominium market in North Scottsdale. Portico is one of the few luxury condominium home buying opportunities in the area and was named Multi-Family Project of the Year by Phoenix Agent Magazine and Multi-Family Project of the Year by The Scottsdale Progress.
“It’s no wonder Portico sold at a rate higher than our projections,” said Keith Mishkin, CEO and President of Cambridge Properties, which represents the project. “It’s truly an impressive community and unlike any other home buying experience currently in the area. Belgravia Group brought its 70+ years of residential development experience from Chicago, attracting luxury buyers — from both in state and out of state — to Scottsdale’s most admired new neighborhood.”
With first deliveries slated for late summer 2024, Belgravia looks forward to delivering the same seamless home buying process, quality and service that is at the core of what Belgravia Group does best. Construction is well underway, and Portico homebuyers are working one-on-one with Belgravia’s in-house design team to personalize their home from an extensive catalog of fixtures and materials, truly making these homes their own.
Portico is estimated to be completed in Spring 2025, and Belgravia plans to announce a new North Scottsdale condominium development soon.
