Geneva Holdings LLC, a development company formed by former Starwood Capital executives, expects to deliver the condos in late 2005 or early 2006. Doug Sweeney with Geneva Holdings tells GlobeSt.com that 35 condos have been pre-sold. "People like the amenities of the golf club and resort-hotel," he says.
The project consists of six three-story buildings situated around Adobe's 10th fairway. Future residents can choose between Fairway Lodge, offering units ranging from 1,700 sf to 3,000 sf for $700,000 to more than $1 million, and 8 Biltmore Estates, featuring units from 3,500 sf to 4,800 sf for $1.5 million to $3 million. The project also includes two underground parking.
Minneapolis-based RSP Architects designed the development. Oakland Construction of Salt Lake City is the general contractor. Geneva Holdings obtained a construction loan from Bank USA to develop the condos, Sweeney says.
The project is just one of many residential and commercial developments Geneva Holdings has taken on in the Valley. Geneva's varied projects include another 600 residential units near the Arizona Biltmore Country Club; land development for Legend Trails, a master-planned community in Phoenix; a 340-unit multifamily complex near Desert Ridge Marketplace.
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