A luxury condominium development with penthouses selling for $10 million or more is planned in Scottsdale next to the Phoenician resort.The condos will be in the final phase of the 25-acre Ascent at The Phoenician development at the base of Camelback Mountain. Prices will start at $2 million in the project called Summit by Olson Kundig, after the architecture firm designing it.“Our design integrates with the mountain landscape, where red sandstone meets the open sky,” said Kirsten Ring Murray, principal of Olson Kundig. “Materials such as local stone anchor the structure to its Camelback Mountain setting, while refined metal screens respond to the shifting desert light.”Replay Destinations is partnering with the architecture firm to develop the 63 condos, which will vary in size from 1,500 to 4,800 square feet. Features will include indoor and outdoor fireplaces, kitchens with quartz countertops, wine refrigerators and small appliance garages.Ascent at The Phoenician was launched on 25 acres by Vancouver-based Replay in 2020 and will have almost 200 multimillion-dollar homes when it’s completed. The developer has sold about $500 million in properties at Ascent so far. Replay also has residential projects in the Bahamas, Hawaii and Park City, Utah.The condos are going up next to Ascent’s Mountain Club, which has a pool, fitness rooms, a games room and a catering kitchen.“This is a truly rare opportunity to own an Olson Kundig–designed residence in one of Arizona’s most iconic settings,” said Brianne Kelsey, vice president of development for Replay. “Camelback Mountain provides a breathtaking backdrop that cannot be replicated.”Sales for the condos started in March. Construction was expected to begin this summer, with condos ready for move-in in late 2027. …
See the full article on Arizona residential development, or, read more Arizona real estate investing news. Feel free to share our site with your investor friends.