It's no secret that luxury condos are all the rage in Old Town Scottsdale right now. In fact, it's not just condos anymore; rental communities have been popping up in Old Town such The Modern just off of Goldwater by Fashion Square Mall, and The Stetson in the Entertainment District. The Optima Sonoran village is a rental / apartment community as well that's been being slowly built over the last several years. Alliance (who is just finishing up The Stetson) also recently Broadstone at The Waterfront close to Fashion Square.
The existing luxury condo complexes include those such as The Optima Camelview Condos, The Scottsdale Waterfront Condos, Safari Drive Condos, Third Avenue Lofts, 4020 Lofts, and Sage Condos.
The Envy is a high-rise condo project that is well underway with the first phase expected to be completed soon.
There's no doubt that Old Town Scottsdale is seeing quite a bit of growth lately. With that being said so is Arizona as a whole. It's likely that this trend of people moving to the Southwest is going to continue as millenials continue to seek warmer climates as more and more people are able to work from home.
The luxury condo communities around Old Town such as The Optima Camelview are often rented by individuals directly from the owners as luxury condos are often seen as low maintenance real estate investments. Other real estate investors might look to the $150 to $200k condos for higher return investments.
The luxury condos often come with a luxury price tag not only when it comes to purchasing the condos, but also in terms of home owners association dues. If you're interested in purchasing one of these condos HOA dues are certainly something you want to evaluate prior to making any decisions.
The Kay-Grant website has listings for all of the various Old Town Scottsdale condos for sale including community specific pre-built searches for some of the more populat condo communites such as Optima Camelview Condos for sale and Safari Drive Condos for sale.
If you're interested in learning more about the Optima Camelview, take a look at this video tour of the community: