Downtown Scottsdale Condos

The Scottsdale condo market is booming, with construction cranes and the steel skeletons of what will soon become luxury dwellings looming against the skyline.

Investors and developers have poured more than $1.6 billion into every segment of the downtown area--- retail, employment, cultural, hotel and residential.

Of the 2,600 new, planned or built condo units, 2,100 are situated in downtown, and those units are selling at average prices of more than $500,000, city records show. Of the 750 condos at Optima, 500 have already been sold!

The buyers of these condo units "are people that have been living in gated communities who are excited about a lifestyle that is more engaging than what is afforded in a gated community," said John Little Sr., executive director of The Downtown Group, the city's liaison to downtown businesses. More...