The Patrinely Group says it expects to begin construction next summer on a multi-million dollar project known as The Residences at 2211 Camelback, at 22nd Street and Camelback Road. Construction on the 87 units, valued at about $80 million, will begin once half of the units are sold, a spokesman for the firm says. The luxury condos, which will be marketed at prices ranging from $400,000 to $2.5 million, will be ready for occupancy by the last quarter of 2006.
The project's developer hopes to cash in on a growing demand for luxury condos in the city's fashionable Biltmore area and the Biltmore Fashion Park. Another high-end project, Esplanade Place, just a few blocks east of the planned development, drew scores of buyers for units that often exceeded $1 million.
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