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GlobeSt.com EXCLUSIVE: Developer Readies $113M Residential Condo Plan

PHOENIX-Geneva Holdings LLC plans to develop condos near the north end of the Adobe Golf Course at the Arizona Biltmore Country Club. The condos will range from 1,700 sf to 4,800 sf and sell for $700,000 to $3 million.

By Jennifer D. Duell | Updated on February 06, 2005

PHOENIX-A local developer has finalized a $113-million build-out plan for 10 acres purchased nearly a year ago from Kabuto Arizona Properties LLC in the middle of Arizona Biltmore Country Club. Within 60 days, ground will break on 113 residential condos near the north end of the Adobe Golf Course.

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.

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