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Plans Resurrected for 500+ Artesia Condos

Courtesy of City of Scottsdale

By Roland Murphy for Arizona Builder’s Exchange

Meritage Homes Corporation announced earlier this week it has new plans to jointly develop a 30-acre site in Scottsdale with iStar Inc.

Known as Artesia, the master-planned, mixed-use project sits immediately adjacent to the NWC of Scottsdale and Indian Bend roads. The mixed-use development will include more than 500 luxury condominiums and townhouses, a private 10-acre recreational park with running and walking trails, resort-style pools and a 20KSF community clubhouse.

“Artesia will be one of the most desirable places to live in the greater Scottsdale and Paradise Valley area,” said Steve Hilton, chairman and chief executive officer of Meritage Homes. “The community caters to those looking for a health and wellness lifestyle with high-end homes, open outdoor spaces, mountain views and resort-style amenities”.

The initial development was started in 2005 with 93 residences, 22.500KSF of retail space and underground parking garages before coming to a standstill during the recession. The property was re-zoned by iStar in 2015, with unanimous support from the City of Scottsdale, to facilitate the new development plan.

The new plan consists of three distinct planning areas, which will be developed in phases. Podium-style four-story buildings will offer 13 floor plans ranging from approximately 1,150 to 3,750SF. Individual residences will include outdoor entertaining verandas along with dedicated garage parking and amenities. The two-, three- and four-bedroom residences are expected to be priced from the low $400Ks to more than $1M.

The onsite sales center will open in December, with first closings projected for early 2019.

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