When the average Millennial thinks of Scottsdale AZ, they think vibrant nightlife, pool parties and countless “foodie” hot-spots. Below the surface of the Entertainment District facade, there is actually a very planned and anticipated infrastructure for this Millennial hot spot.
Behind the Scenes, Investment firms are capitalizing on the Growth that the Millennial purchaser is creating in the area. The Developers behind Optima Sonoran Village are breaking rent records with their ‘in demand’ product. For those who are paying attention, the pieces of the puzzle fit together. The younger generations want and desire a property that is sleek and sexy in style with amenities that rival Five Star hotels. This generation of buyer has a lot more at stake while purchasing a home than the generations prior. The Social Media craze has created a competitive atmosphere for individuals to “one up” each other and present the image of affluence. There have even been words created to explain this phenomenon…for example, F.O.M.O. The “Feeling of missing out.”
Savvy investors & developers have a unique and profitable opportunity in Scottsdale. With rents near the Entertainment District being $3,000+ for luxury apartments and condos, developers need to understand that these high paying tenants will transition into purchasers looking to purchase in the latest and greatest ‘hot spot.’ There are already proposed Developments which are slated to be ready in 2016. One of these Developments is Envy by Deco Communities. Deco Communities exemplifies a company that understands what this generations purchaser desires. Millennial buyers want ‘Luxury,’ a word that has become a lifestyle. For a generation consumed with competition and the desire to show their status via social media outlets, the “luxury lifestyle” is more desired and important than ever.
Whether you currently have a Development or are in the planning stages of Development, call The Remo Paul Group to experience our unique marketing strategies, sales experience and farthest reach to potential buyers.