Scottsdale's First Condo Development Since Recession

PHOENIX—iStar Residential has broken ground on the final phase of Sage, a luxury condominium community along the Scottsdale waterfront, that will be the only new-construction, for-sale condominiums in Downtown Scottsdale. The construction, which is in excess of $35 million of residential real estate, signifies the first ground-up condominium development in Downtown Scottsdale since the recession.

Following the success of the sold-out first phase, Sage’s final phase will feature 72 two- and three-bedroom condominiums ranging from 1,490 to 1,775 square-feet, with optional den floor plans, and is expected to be priced from the high $400,000s. Located directly south of Sage’s first phase at Chaparral Road just east of Scottsdale Road, the two, three-story buildings are now under construction with owner move-in by early 2015. A priority interest list is currently being developed and sales will begin this winter led by The Kor Group.