Phoenix Condo Project Sells Out in Record Time

The Optima Kierland Center

Housing demand is growing rapidly in Phoenix, and while the city has historically been a single-family market, high-rise multifamily and condo product is growing in popularity. The Optima Kierland Center in Scottsdale is a perfect example of demand for condo product. In 2016, the project sold in record time—220 units in nine months. The pace of sales was three times as fast as other condo sales in the local market. Now, the 202-unit second building in the project is launching sales efforts. Already, the second building has received more than 50 reservation and contract requests—exceeding the initial sales efforts for building one.

“The market has shown demand for a community that offers a great location, market pricing, exceptionally designed product, and an elevated amenity package,” Crel Vogel, sales manager at Optima Kierland, tells GlobeSt.com. “Looking at the trends from Optima Kierland buyers in the first condo tower, we saw that they were looking for a lock and leave lifestyle and a rightsizing opportunity from larger homes, close to restaurants and urban amenities.”