Scottsdale is known as a relative “luxury” area of the country, not just Arizona. A supporting data point for that is that “Scottsdale’s housing expenses are 44% higher than the national average and the utility prices are 8% lower than the national average,” from PayScale.com.

A new residential community may soon be underway, with Chicago-based Belgravia Group, Ltd. announcing its first project beyond Chicago with Portico – North Scottsdale, a residential community of 112 luxury condominiums in Scottsdale, Ariz., according to a news release.

Germane details from the release:

A key piece within the larger One Scottsdale masterplan development, Portico will include one-, two-, three- and four-bedroom condominiums with starting prices ranging from $540,000 to $1,420,000. The residences will be located within nine discreet buildings, each with only five floors, offering the type of intimate, boutique living experience Belgravia has become known for … .

The demand in the area for higher-end living space seems to support this project, as well as others. 

“We know demand exists in the Scottsdale market for the type of homes we develop – condominiums that live like maintenance-free single-family homes with gracious layouts, quality construction and upscale finishes,” said Jonathan McCulloch, co-CEO at Belgravia Group.