Five Star Development Surpasses $215 Million in Real Estate Sales at The Ritz-Carlton Residences, Paradise Valley as Estate Homes Hit the Market
Five Star Development has confirmed that it has exceeded over $215 million in luxury real estate sales within the initial release of The Villas at The Ritz-Carlton Residences, Paradise Valley and has officially begin writing contracts for the second release, The Estate Homes.
Within The Villas, only a handful of Residences are available for purchase, starting from $1.6 million. One of the most expensive condominiums ever sold in Arizona, priced at just over $5.7 million, was part of this initial release.
Now selling from the low $5 millions is an exclusive collection of 39, single-family Estate Homes that will range in size from 5,500 to more than 12,000 square feet. Floorplans will be personalized to meet the lifestyle of the homeowner and will feature three- to five-bedrooms that can also be configured as entertainment spaces. Each home can have a main and lower level with 22 homes having the option to add an additional upper level. By providing four different home plans and three different elevation styles that emphasize modern, prairie and Mediterranean-inspired architecture, the Estate Homes will be incredibly diverse as no two neighboring homes will look alike.
“We are setting a new benchmark for luxury living here in Arizona and our collection of Estate Homes will only further establish The Ritz-Carlton Residences, Paradise Valley as the pinnacle of sophisticated, full-service resort living in the state,” said Jerry Ayoub, president of Five Star Development. “Homeowners have the ability to tailor many of the spaces to reflect their own living style. The sky is the limit when it comes to personalizing each home.”
An emphasis has been placed on creating generous, versatile spaces within The Estate Homes along with fully equipped kitchens, and optional prep kitchens, making these homes ideal for formal entertaining. Each home has a seamless transition from indoor to outdoor spaces which will allow homeowners to create their own oasis by adding expansive lawns, fountains, an outdoor kitchen or spectacular pool. Select master bathrooms will feature sliding doors that open out to a private water garden complete with outdoor showers and exquisite water features. Homeowners can also opt to have an auto showcase gallery, where an elevator will bring their exotic vehicle to be put on display in the lower level of their home.
The Ritz-Carlton Residences, Paradise Valley is part of a $2 billion, 122-acre master-planned community, which combines multi-million-dollar homes and one of the world’s most venerable hotel brands with exceptional, first-to-market dining and shopping.
Spread over 20 acres at the heart of the enclave lies a 215-room Ritz-Carlton resort that will boast North America’s longest resort pool at just over 400 feet, a 15,000 square-foot world-class spa with indoor and outdoor experiential treatment areas, a state-of-the-art health and fitness center, indoor and outdoor meeting and event space, a citrus orchard, an herb garden for the hotel’s restaurants, lush walking paths and a grand lawn with stunning views of iconic Camelback Mountain.
Ritz-Carlton Residence owners will also be able to experience a “resort within a resort” with their own junior Olympic sized-pool, private and beautifully landscaped grounds, a dedicated concierge and residential management team, priority access to hotel amenities, and a host of a la carte services such as in-residence dining and housekeeping. The Villas and Estate Homes will be whole-ownership and Ritz-Carlton branded, serviced and managed.
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