2014-04-25

 

Scottsdale, AZ.- Nathan Day may be one of the youngest residential developers in the U.S., but he is taking on one of the oldest forms of housing in the luxury market of Scottsdale.

Thirty-one-year-old Day’s company, Cypress Development Group, is launching the first condos to be built in the exclusive Silverleaf neighbourhood in the northern part of Scottsdale. They will not only be the only condos in the private golf community of Silverleaf, but also the only ones in DC Ranch, one of the oldest master-planned, upscale zip codes in Arizona.

DC Ranch is a 1,780-hectare community located next to the McDowell Sonoran Preserve. It’s a community popular with second-home residents, including scores of Canadian snowbirds. Silverleaf is one of its gated subdivisions. “I think people want to be in new construction and there has been a lack of inventory in the luxury category,” says Day, “especially with a premium address.”

The 204 condo units Cypress is building will be situated near the DC Ranch health club, the Silverleaf golf course and other amenities including restaurants, retail and health services.

They will have views of the McDowell Mountains and the Sonoran Preserve with trails that wind their way through Silverleaf.

Cypress is also building Phase 2 of its villa development in Sterling at Silverleaf — luxury single family residences designed by acclaimed Arizona architect Bing Hu that sold out Phase 1 during the height of the U.S. recession. It was also Arizona’s first and only single-family new construction project to be awarded gold-level certification by the National Association of Homebuilders (NAHB), making the villas the greenest homes in the state. The U.S. Green Building Council also awarded the project gold-level LEED (Leadership in Energy and Environmental Design) certification. The same “green” sustainable building practices are to be used in the second phase of the villas, as well as in the new condo project.

Why the success in what is, still, a recovering housing market? Day says while it’s true the luxury market has picked up more than other sectors, he says the product his company is offering also comes at the right time for both local homeowners and for snowbirds, including Canadians.

“DC is almost 20 years old and a lot of people bought houses when they had families. They’re now empty nesters and either have to remodel or can buy here. It is a perfect lock-and-leave community with all the amenities and unique atmosphere that you don’t usually find unless you are in downtown Scottsdale.”

The condos will be built among five buildings, four storeys each, and will range in size from 1,680 square feet to 3,600 square feet. Prices start at $1.2 million and the condos include underground parking. Included in the complex are 8,000 square feet of community space, concierge service and a 24-hour manned gatehouse.

There will be 47 penthouses built on the top floors of each building. The buildings themselves will be the tallest, because of grade elevation of the site, in all of Scottsdale and will have “spectacular views,” Day promises.

Standard features of each unit (there will be one-, two- and three-bedroom floor plans with options for an added den) will be custom estate home features, including exotic stone countertops, natural stone and marble floors, 10-foot ceilings, upgraded appliances and all steel frame building construction. And, as with the villas, each residence will have a built-in iPad system that controls functions including audio, video, lighting, window coverings and security.

Construction on the first two buildings begins this August. The second phase of the villas in Sterling at Silverleaf will include 12 Mediterranean-style homes, priced from $2.2 million. The villas range in size from 3,980 to 4,800 square feet, each with an attached cabana or casita, with a separate entrance. The three- or four-bedroom with dens homes will all have views of the McDowell Mountains and the Sonoran Preserve. The homes come with a full masonry fireplace that reaches from the great room into the open second floor, along with high-end finishing. The villas have two- or three-car garages, a climate-controlled wine room, hand-forged iron work in the front door and railings, and expansive outdoor space.

All are being built at once with completion expected later this year. Two show home models will open on-site in late April.

WHAT YOU NEED TO KNOW

The project: Sterling at Silverleaf is a development within the DC Ranch community in north Scottsdale. Silverleaf is about 810 hectares within the 3,360 hectares of DC Ranch, with more than 1,860 hectares dedicated to open space of the Sonoran Desert.

What’s new: Phase 2 of the villa project — designed by well-known Arizona architect Bing Hu — is currently being sold. Phase 1 of 16 villas sold out during some of the toughest years of the recent recession. There will be 12 Mediterranean-style homes, priced from $2.2 million. The villas range in size from 3,980- to 4,800-square feet, each with an attached cabana or casita, with a separate entrance. Phase 3 will start sales in mid-March and will include the first condos to be built in the exclusive Silverleaf neighbourhood and in the entire DC Ranch community. The 204 units will be built within five buildings, four storeys each, and will range in size from 1,680-square feet to 3,600-square feet. Prices start at $1.2 million. 

For more information: Silverleaf Realty of DMB Realty Network manages sales for the community. Call (480) 502-6902 or go to www.sterlingatsilverleaf.com.

Amenities: Property owners can apply for membership in the private Silverleaf Club, which includes the Tom Weiskopf designed, 7,322- yard championship golf course. The 50,000 square-foot rural Mediterranean-style clubhouse has spa facilities, resort and lap pools, men’s and women’s locker rooms, as well as fine and casual dining. The condo project also adjoins a village area complete with restaurants, retail and health facilities. 

The developer: Scottsdale-based Cypress Development Group specializes in high-end residential and commercial projects. Projects combine sustainability — as evidenced by the “green” awards of their projects combined — with advanced technology and construction. For more information, visit www.cypressdevelopment.com

Canadian snowbirds in the U.S.: Canadians accounted for 23 per cent of the $62-billion US in foreign real estate purchases in the U.S. in the 12 months ending March, 2013, twice as high as the next group of foreign buyers, the Chinese, according to the National Association of Realtors (NAR). The most popular states to buy in were Florida (39 per cent); Arizona (24 per cent) and California (eight per cent).

By Barb Livingstone for The Calgary Herald

© Copyright (c) The Calgary Herald 

 

 

 

 

 

 

 

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