Minnezona Residences

Min. Invest $10,000
Target Hold 12 mo
Annualized Returns 10%
Progress - 77% Pledged
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Project Summary

The Minnezona Residences are 1850 sqft 2 bedroom 2 1/2 bath on 3 levels with a 2 car garage and Flex room and private courtyard and balcony's on the 2nd and 3rd levels.

Investment Type: Term: Raise Amount:
Debt
12 Months $2,000,000

Property Summary

The Minnezona Residences are in the heart of Scottsdale Arizona near famed Old Town, Fashion Square Mall and a short walk to Camelback and Scottsdale Roads in the heart of Scottsdale. Location says it all with these new residences. Artisan Builders has already been approached by an investment group in the hospitality industry who has expressed interest in buying all residences for vacation rentals.

Why Invest?

Sponser is paying a 10% return monthly for 12 months through the completion and sale of the homes. Artisan Builders is a Scottsdale Arizona based real estate investor and developer and has built and sold 25 homes in the past two years for $15 mil with 29 residences currently under construction in Phoenix and Scottsdale due to be completed by year end 2019. Our most recent sale just sold first day on the market at full price - add link. This project is fully permitted and under construction with an estimated completion date of December 2019. Artisan Builders has veteran contractor teams that have been successfully building in Arizona for over 30 years with top quality finished products that sell quickly and for top dollar.Artisan Builders is your alternative to traditional real estate investing. We are looking for investors who want performance and a good return on their investment.

Artisan Capital Fund, LLC

Capital Raised to Date $1,500,000.00
Total Capital Required $2,000,000.00
Total Cost $500,000.00 Per Unit Includes Land, All Build Related Costs and Carrying Costs
Sales Prices To Be $675,000.00 Plus Per Unit
Total Sales Price $2,700,000.00 
Estimated Net Profit $500,000.00 or 19%.

 

Financial Sources

Private Investor $1,500,000

Financial Uses

Construction $500,000

Scottsdale Planned Development Projects

Old Town Scottsdale will get its first new hotel in a decade, plus five more.

City planners in metro Phoenix's tourist hotspot say nine new hotels are in various stages of planning, including one in north Scottsdale, six in Old Town and two farther south. 

The last hotel to open in Old Town was the W Hotel in 2008.

The development burst comes after a marked period of slow hotel growth during the recession, according to Randy Grant, Scottsdale's director of planning and development services.

MORE: Downtown plan could double height in certain areas of Old Town, Scottsdale

"There's a confidence in the market," he said, noting increased funding for new hotels. 

He attributes some of the spark to Super Bowl LVII, which the Valley will host in 2023. 

Scottsdale, with about 9,000 hotel rooms, traditionally gets an outsize share of visitors during mega-events. The broader area, including Paradise Valley and Salt River Pima-Maricopa Indian Community, boasts about 13,500 rooms, according to city of Scottsdale data.

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The proposed Canopy Hotel on Marshall Way and 2nd St. in Scottsdale. Eight new hotels are being proposed for development south of Camelback Road in Scottsdale, with at least six located in Old Town and another in north Scottsdale. (Photo: City of Scottsdale)

WHAT'S COMING?

In total, the new hotels will add approximately 1,300 rooms for the city.

  • The Edition at Waterview: Camelback Road and 73rd Street, 246 rooms.
  • Don and Charlie's: Camelback Road and 75th Street, 181 rooms.
  • Southbridge Hotel: Scottsdale Road and Camelback Road, no room details available yet. 
  • Winfield Hotel: Scottsdale Road and Fourth Avenue, 244 rooms.
  • Canopy by Hilton: First Street and Marshall Way, 178 rooms.
  • Museum Square: Second Street and Marshall Way, 190 rooms.
  • Element at SkySong: Scottsdale Road and SkySong Boulevard, 153 rooms.
  • Papago Plaza: Scottsdale Road and McDowell Road, no room details available yet.
  • Fairfield Marriott at DC Ranch Crossings: Pima Road and Trailside View, 125 rooms.

Only one of the hotels, Element at Skysong, has broken ground. All others, except Southbridge, has plans working their way through the city. 

ONE COULD REACH 15 STORIES

Museum Square is expected to be the tallest at between 130-150 feet, or about 13-15 stories.

Such heights can be a point of contention for some Scottsdale residents and leaders, while others embrace an urban vibe in parts of Old Town. The city recently passed a downtown development plan that allows buildings just outside the downtown core to rise up to 150 feet.

The developer must provide the city with a public amenity, such as public parking, public art or mobility access and pedestrian walkways.

Southbridge developer Carter Unger said he expects to provide new public parks, plazas and shaded walkways to strengthen pedestrian connections at his project in Old Town. 

Other projects are expected to range between 65 to 90 feet. 

Those with height proposals already submitted include:

  • The Edition at Waterview: 90 feet.
  • Winfield Hotel: 90 feet.
  • Canopy by Hilton: 76 feet.
  • Don and Charlie's: 74 feet.
  • Element at SkySong: 65 feet.

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The proposed Don and Charlie's Hotel on Camelback and 75th St. in Scottsdale. Eight new hotels are being proposed for development south of Camelback Road in Scottsdale, with at least six located in Old Town and another in north Scottsdale. (Photo: City of Scottsdale)

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Element at Skysong, off Scottsdale Road and SkySong Blvd., is one of eight new hotels being proposed for development south of Camelback Road in Scottsdale.

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The Edition at Waterview, off Camelback Road and 73rd St., is one of eight new hotels being proposed for development in Scottsdale

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The proposed Winfield Hotel on Scottsdale Road and 4th Ave. in Scottsdale. Eight new hotels are being proposed for development south of Camelback Road in Scottsdale, with at least six located in Old Town and another in north Scottsdale

The proposed Museum Square Hotel on Goldwater Blvd. and 2nd St. in Scottsdale. Eight new hotels are being proposed for development south of Camelback Road in Scottsdale, with at least six located in Old Town and another in north Scottsdale.

 

Lorraine Longhi, “9 new hotels coming to Scottsdale, with six in Old Town”, Arizona Republic.