Question: What do you feel are the main drivers for projects like yours? How is your project indicative of trends in the current commercial real estate market?
Real Estate Developer
North American Development Group
Sector: Real Estate
With the growing demand in the Valley for truly great live/work spaces in our urban areas, North American Development Group identified Downtown Scottsdale’s urban arts district as a prime location for developing a new multi-family concept.
After years of market research and evaluation, NADG conceived Eldorado on 1st for the discerning buyer seeking the vibrancy of city life with the sanctuary of quiet, peaceful privacy at home. Combining quality materials and innovative design, Eldorado on 1st is a collection of seven ultra-luxurious private urban residences in the heart of Scottsdale.
Led by Will Bruder Architects, the Eldorado on 1st design team placed a high value on elements such as steel and concrete construction, oversized attached garages, custom Bulthaup kitchens, private elevators and private landscaped roof decks. Each home sits perched above street level office studio space, the private residential lobby, and the community pool and spa, and looks out over treetops and rooftops toward the downtown skyline and Camelback and the McDowell Mountains.
Chamberlain joined NADG in 1999, and since that time has been directly responsible for more than $300 million of real estate construction, acquisition and financing. NADG is actively involved in the identification, acquisition, development and management of major real estate projects across the U.S. and Canada.
Chief Operating Officer
Sencorp, North American Region
Sector: Real Estate
We believe prospective Downtown Phoenix residents are driven by an all-encompassing experience built on connectivity, community and efficiency. We refer to this as thoughtful living — the guiding principles for our new condominium project. As proponents of urban living, our team was inspired to contribute to the growth and prosperity of our city.
En Hance Park is a modern, 49-unit condominium development featuring efficient, well-organized floor plans with designer fixtures and finishes starting at $150,000. Situated directly across the street from the expansive Margaret T. Hance Park and adjacent to the vibrant Roosevelt Row arts scene, it is both a city sanctuary and a hub connecting residents to renowned cuisine, art, entertainment, sporting events and more.
We recognize the growing trend for living in the center of our city’s burgeoning arts and entertainment district, and we’re are acutely aware of the responsibility, consideration and commitment involved in purchasing a new home. Our goal is to satisfy this need with attainable, quality housing in a premier downtown location that offers an excellent value proposition.
Alvaro Sande is the chief operating officer of the North American region of Sencorp and is responsible for all North American operations. He holds an MBA from Babson College, with expertise in financing and marketing. Before moving to Phoenix in 2008, Sande, a native of Chile, lived in Boston, Miami and New York.
Senior Partner and Director of Planning
Sector: Real Estate
For years there was pent-up demand for high-quality residential in highly desirable infill locations, and it’s incredible to see how these key neighborhoods have already transformed with the addition of our residential projects and others. In Scottsdale, our ENVY Residences building is located in the heart of Downtown Scottsdale, where there is a unique resort-living-meets-urban lifestyle emerging. Our real estate market is in the midst of the “fifth migration” of homebuyers desiring properties with a more urban lifestyle that is close to all the destinations and amenities that make city living so appealing. With new construction in infill areas, other new businesses are emerging to serve the new residents that will be moving to the area, including restaurants, retail, entertainment and nightlife. We are seeing the exact same phenomenon with our Central Phoenix projects, most notably Edison Midtown. Central Phoenix has been evolving over the last several years and has truly become a destination in the Valley — not just for baseball games and special events, the scene is exciting and exhilarating for those who want to feel connected to the pulse of a city.
Patricia Watts co-founded Deco Communities and Starpointe Communities, and has been extensively involved in real estate and operating businesses since 1986. Prior to founding Starpointe, Watts was the vice president of real estate investment for Anthem Properties, Ltd., a Vancouver, B.C.-based real estate investment, development and management company.