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cottsdale's luxury market reputation has attracted a major player from Madrid: Adlanto, a firm with over 3,500 residential units worldwide. Adlanto is teaming up with local developer Plaza Companies on a $50 million condominium project at Goldwater Boulevard and 70th Street in Old Town Scottsdale. The 40-unit complex will feature retail space and offer stunning views of Camelback Mountain, Four Peaks, and the Papago Buttes.

    This marks Adlanto's first foray into the US market, with Plaza Companies handling design and construction management. According to Sharon Harper, Plaza Chair and CEO, the joint venture was facilitated by mutual colleagues. The Goldwater Residences are part of a surge in condo developments in the Phoenix metro area, where over 250 projects are currently underway.

    The upscale Scottsdale market has seen significant growth this year, with around 500 new condo units added to the pipeline. Plaza Companies has a track record of working on high-profile projects, including SkySong and Park Central. The Goldwater Residences have already secured reservations for 25% of their units, thanks in part to Oriana Lehman Wood's involvement as broker for Russ Lyon Sotheby's International Realty.