MDF Development Announces $30 Million Luxury Compound in Paradise Valley

Categories: Business NewsConstructionNewsReal Estate & Properties

An artistic rendering of the new luxury gated compound set to rise in Paradise Valley.

News Summary

MDF Development plans to build a $30 million gated compound in Paradise Valley, AZ. Acquired for $5.75 million, the project signals growing demand for luxury real estate in the area. Groundbreaking is expected within a year, with completion anticipated by 2028. This upscale development reflects the trend of high-value properties in the region, targeting affluent buyers seeking exclusivity and modern amenities.

Paradise Valley, AZ – MDF Development has announced plans to construct a $30 million private gated compound covering 15,000 square feet in Paradise Valley. The luxury Scottsdale-based developer recently acquired an existing property for $5.75 million on April 30, which will be razed to make way for the new construction on a 2.82-acre lot.

The compound is poised to become one of the most expensive home sales within the Phoenix metropolitan area upon its completion, highlighting the ongoing demand for high-end real estate in the region. Frank DiMaggio, co-founder of MDF Development, indicated that groundbreaking is expected to begin within a year, while the completion of the project is anticipated in the first or second quarter of 2028.

This new development is part of a broader trend in luxury home building in Arizona, particularly in Paradise Valley, known for its stunning views and affluent community. The anticipated selling price of $30 million aligns with the premium tastes of prospective buyers in this upscale market, where high-value properties are increasingly sought after.

MDF Development is recognized for its commitment to luxurious, customized developments tailored to the preferences of discerning homeowners. The upcoming gated compound is expected to feature top-of-the-line amenities, adding to the already impressive portfolio of high-end properties in the area.

The acquisition of the property at $5.75 million marks an important milestone in the development process. By purchasing this existing property, MDF Development can redevelop the land to meet the latest luxury standards, which often include spacious layouts, modern technology, and sustainability features, appealing to a new generation of luxury buyers.

As Paradise Valley continues to attract well-to-do individuals and families, the demand for such premium gated communities is likely to grow. The area’s historical appeal combined with its proximity to Phoenix makes it a desirable location for wealthy buyers seeking tranquility and exclusivity. The new compound will add to the premium options available, reflecting ongoing investment in high-end real estate developments in the region.

Other luxury developments in the Phoenix area have set precedents for high ticket sales, indicating a robust market for multi-million dollar residences. Potential buyers are increasingly exploring properties that not only offer lavish living spaces but also a sense of privacy and security, which gated communities effectively provide.

As construction progresses and details regarding the design of the gated compound are finalized, it will be interesting to see how the project takes shape in the evolving landscape of luxury real estate in Paradise Valley. Those interested in upscale living are expected to keep a close watch on developments as the project nears its groundbreaking date.

In summary, as MDF Development embarks on this ambitious project, it indicates a strong confidence in the luxury market of Paradise Valley. The success of this initiative could further embolden developers to invest in high-value projects, making significant impacts on the real estate market within the Phoenix metro area.