SOURCE: Red Mountain Retail Group, Inc.

August 23, 2007 16:30 ET

4020 Scottsdale Old Town Lofts

Only 7 Luxurious Boutique Lofts Remaining in the Heart of Old Town Scottsdale

SCOTTSDALE, AZ--(Marketwire - August 23, 2007) - 4020 Scottsdale Old Town Lofts, a "vintage building meets modern luxury living project" in the heart of Old Town Scottsdale, has only 7 reservations remaining of its initial offering of 21 luxurious, boutique lofts located directly above upscale retail shops. Construction has commenced, with a scheduled completion date of December 2007.

The lofts are being crafted from the existing three-story commercial building by Red Mountain Retail Group, Inc. (www.redmountainretailgroup.com), a development company headquartered in Santa Ana, California. RMRG is being environmentally conscious by salvaging the existing building structure and reducing the waste going to landfills as part of its adaptive re-use initiative. In addition, materials are being reclaimed from the demolition process, renewed and re-used where appropriate.

"Adaptive re-use of existing buildings is a target for Red Mountain Retail Group in our existing and future business plans," said Michael Mugel, CEO of RMRG. "While complete 'green' redevelopment projects are still generally unaffordable to most of the marketplace, Red Mountain Retail Group places a high value on being environmentally sensitive. Scottsdale Lofts is a great example of this process. This is the first true 'loft conversion project' taking an existing commercial building and converting it to residential in Scottsdale and we are thrilled to offer this opportunity to potential home owners and retailers."

Located on the northwest corner of Scottsdale Road and 1st Avenue, Scottsdale Lofts are in the heart of Old Town Scottsdale, a historic atmosphere with modern amenities. An eclectic mix of southwestern and contemporary art galleries, specialty retail, upscale dining, and an active nightlife are all located within a short walking distance of the lofts. The new Waterfront development and Scottsdale Fashion Square are also within a short strolling distance.

These lavish lofts and chic retail spaces were designed by Architekton of Tempe, and the Richardson Design Group of Salt Lake City.

The well-appointed residences will range in size from approximately 800 square feet to over 1,300 square feet and will feature oversized balconies for the creation of an outdoor living space. Some units will feature rooftop terraces on the third floor with views of Old Town and Camelback Mountain. Interior finishes of the lofts will be upscale contemporary, featuring high volume ceilings, individual gas heat and air conditioning, professional quality stainless steel kitchens with designer cabinets, and granite countertop options. All Master suites include walk-in closets. Prices start from the mid $400,000 range.

Scottsdale Lofts are located within a three-mile radius from the Phoenician Golf Resort and 1,000 new multi-unit urban residences recently completed or in development.

Contact Information

  • Loft Sales and Retail Leasing Information:

    Diane Smith
    Red Mountain Retail Group, Inc.
    602.977.9206
    Email Contact