Meritage Homes Corp. and iStar have announced plans to jointly develop a 30-acre residential plan within the Artesia community in Scottsdale, AZ.
Plans call for over 400 luxury condos and townhomes nestled amongst a 10-acre park full of trails, multiple pools, and a 20,000 square-foot clubhouse. Development will take place over a series of phases and include various types of housing options. A series of four-story buildings will include 12 different condo floor plans ranging from 1,150 to 3,750 square feet. Prices will range from roughly $400,000 to over $1 million.
Artesia was initially in 2005 with 93 residences and retail space. Following the recession, iStar rezoned the property in 2015, leading to this new proposal.
The sales center is expected to open in December 2017 with closings projected by early 2019.