AZ Real Estate 11-02-14

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AZ Real Estate REACH US

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CATHERINE REAGOR REAL ESTATE

Tony condos are going up in Scottsdale

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SUE DOERFLER

THE REPUBLIC • AZCENTRAL.COM

igger used to be better in the luxury-home market. Not anymore. These days, buyers of million-dollar homes want less square footage than in years past. “People are scaling back,� said Walt Danley, president of Walt Danley Realty in Paradise Valley. Instead of massive 10,000- to 12,000-square-foot houses, they are looking for houses that are 4,000 to 6,000 square feet. “They do not want the hassle of furnishing and main-

taining a larger home when they won’t even be using some of these rooms,� said Julie Antunes, a Realtor with Russ Lyon Sotheby’s International Realty in Scottsdale. Smaller luxury resale houses can be hard to find. In the early 2000s, few were built because buyers considered larger homes to be more valuable. Now, “status is no longer predicated on size of home, but more location and amenities.� In the luxury-price range, there is no scaling back on See LUXURY, Page R3 ILLUSTRATION BY CHRISSY ASHACK/GANNETT

$350 million luxury condominium project, complete with a robotic valet and private elevators, is underway in what has become Arizona’s poshest neighborhood, Silverleaf in north Scottsdale. Sales will start in November for 213 units priced at $1 million and higher in the Sterling at Silverleaf development. Sterling at Silverleaf is in DC Ranch at Pima Road and Thompson Peak Parkway. Construction is scheduled to start early next year, so the first residents can move in during 2016. Scottsdale-based Cypress Development Group is developing a five-building condo project next to the 28 villas, designed by architect Bing Hu, that it began building in 2011. The condos range from 1,600 to 3,400 square feet. Penthouses in the four-story buildings will average 2,500 square feet. Cypress CEO Nathan Day and President Tanner Luster say the condos will be LEED-certified by the U.S. Green Building Council. Cypress purchased the land for the villas and condos in 2008. Before designing the condo project, Day and Luster traveled to Los Angeles, Miami and other luxury condo hotspots to check out the latest high-end amenities. The Sterling condos will include Calcutta marble kitchen countertops, SubZero and Wolf appliances, natural stone and wood floors, 11-foot ceilings, walkin closets with custom cabinets, deepsoak tubs and a built-in iPad system that controls home automation and security. Condo buyers also will have access to a 7,000-square-foot resident lounge with a demonstration kitchen, private dining room, library, fireplace, flat-screen TVs and a conference room. The valet will use battery-powered robots to move cars onto steel trays to park them. Homeowners can call up their car in minutes. Day said the project will be marketed to empty-nesters currently living in Paradise Valley as well as to people 50 and older worldwide.

Rents on the rise Renters are paying more for apartments and houses in metro Phoenix than they did a year earlier. The average rent on an apartment climbed 4.9 percent during the past year to reach $815 a month at the end of September, according to research firm See REAGOR, Page R3

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SCOTTSDALE | 12801 East Gold Dust Avenue | Open Today 1-4PM

PERFECTION. Wake up to amazing mountain views. Enjoy MLS# spectacular sunset hues from the rooftop deck under a starlit sky. Bedrooms This beautiful custom home WOWS with 20-foot trey ceilings, Bath Marble, Travertine, Alder, granite and wonderful built-ins. Pool Professional island kitchen has stainless Fisher and Paykel and Bosch appliances. Custom cabinets, wood floors and a box-beamed Sq. Ft. ceiling inspire creativity in the office. Media room. Luxurious Parking master suite has a double-sided fireplace, sitting area, jetted tub Lot Size and Marble multi-head shower. Enviable yard with a negativeZIP Code edge, beach entry pool, spa, BBQ, fireplace and city-light views. ACRE lot with horse corrals. Split, six car garage with AC and Online Pics bathroom. – Joseph Callaway Price

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SCOTTSDALE | 11304 North 117th Way | Open Today 12-4PM

STUNNING SCOTTSDALE RESORT-STYLE LIVING. Like MLS# living at a resort, this gorgeous home begins with an immaculate Bedrooms desert garden, a circular motor court and a towering turreted Bath entryway. Living room w/floor-to-ceiling windows overlooking Pool stunning rear grounds. Dining room w/tall bayed windows. Sleek kitchen. Family room w/spoke-style beamed ceiling, wide-planked Sq. Ft. floors, sensational split-stone fireplace. Master suite w/den-office, ZIP Code pampering private bath, sun-kissed bedroom. Mountain/sunset view deck, pretty lawn, expansive patios, lush easy-care plantings, Online Pics Price soaring palm trees, beautiful pool. Serene and secluded, yet just minutes to shopping, dining, golf and more. Visit tourfactory. com/1246016. See inside for full details, directions.

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