Meritage Homes Corporation announced plans to jointly develop a 30 acre site in Scottsdale, Ariz. with iStar Inc. Known as Artesia, the master-planned project immediately adjacent to the northeast corner of Scottsdale Road and Indian Bend Road is poised to be the most anticipated new community in Scottsdale. The mixed-use development will include more than 500 luxury condominiums and townhouses, a private 10 acre recreational park with running and walking trails, resort-style pools and a 20,000 square-foot community clubhouse.

The initial development of Artesia was started in 2005 with 93 residences, 22,500 square feet of retail space and underground parking garages before coming to a standstill during the recession.  The property was re-zoned by iStar in 2015, with unanimous support from the City of Scottsdale, to facilitate the new and exciting development plan. The new plan consists of three distinct planning areas of land, which will be developed in phases. Podium-style four-story buildings will offer 13 floor plans ranging from approximately 1,150 to 3,750 square feet.

Individual residences will include outdoor entertaining verandas along with dedicated garage parking and many amenities. The two-, three- and four-bedroom residences are expected to be priced from the low $400,000 to more than $1 million. The onsite sales center will open in December of 2017, with first closings projected for early 2019.