“The demand for this final phase at Sage is significant. We've had brokers and buyers calling us nonstop since we started moving dirt more than a year ago, asking when they can sign a contract and move in. Brand new homes of this size and quality in the heart of Downtown Scottsdale are extremely rare, so this is a very limited opportunity. There are no other projects like this now or planned for the future. Other projects recently developed or coming onto the market are either apartments or small condos. An opportunity to own a brand new luxury residence in a downtown location like we are offering at Sage may not happen again, and people are taking notice.”

Inside Sages' homes are top-of-the-line features and finishes, including granite kitchen countertops with decorative tile backsplash and LED under-counter lights, Dacor professional stainless steel appliances, designer-selected modern wood cabinetry, GROHE® faucets and fixtures, Provenza hardwood floors, well-appointed master bathrooms with Carrera marble countertops, dual sinks and a deep soaking tub, spacious walk-in closets, elegant fireplace with natural stone surround, custom cabinetry and millwork throughout, nine-foot ceilings, dramatic foyer entrances that create an inviting sense of arrival and private terraces or balconies with Camelback Mountain and waterfront views. State-of-the-art technology conveniences include Wi-Fi controlled thermostats, USB charging ports at key outlets, high-speed cable and dual-glazed vinyl windows with efficient, Low-E, energy saving glass.

In recent weeks, iStar Residential has completed a six-figure investment in redesigning and upgrading the community's resort-like amenities. Amenities include an expansive 3,400-square-foot, two-story private clubhouse with 30-foot ceilings; a designer-styled and luxurious library lounge with entertaining kitchen, fireplace and 65” flat screen TV; a one-of-a-kind climate controlled subterranean wine cellar; a lushly landscaped waterfront pool and spa with an outdoor lounge and private cabanas; an open-air grilling area with raised terraces for scenic dining; a fitness studio with SCIFIT and Spirit equipment and a Yoga-stretch a room; Wi-Fi access and USB ports throughout the clubhouse and gated underground resident parking. iStar is also constructing a paved and lighted walking path from Chaparral Road to the southern end of the property line with enhanced, lush landscaping that will connect Sage to the heart of Downtown Scottsdale.

“This is a substantial change from a traditional multifamily product,” says Sotolov. “This is a luxury product that is significantly different.”

The first phase of Sage, a collection of 50 condominiums, townhomes and penthouses, sold out in early 2012.