Best of Living in Scottsdale & Phoenix Arizona Newsletter
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☀️Scottsdale Resort Renos, Mesa Booms & Valley's Wealth Shift

☀️Scottsdale Resort Renos, Mesa Booms & Valley's Wealth Shift

Check out what's shaping Phoenix and Scottsdale's economy right now.

Josh Zuniga
May 16, 2024

Happy Thursday!

Phoenix and Scottsdale have a lot for residents to be excited about this week.

The Scottsdale Resort & Spa has just completed $40M in renovations and Mesa has become a top destination for retirees.

We are also taking a look at why Desert Mountain has overtaken Paradise Valley as the area’s wealthiest zip code.

Enjoy!

— Josh

💆‍♀️ $40M Renovation Complete at Scottsdale Resort & Spa

Driving the news: The Scottsdale Resort & Spa, a Curio Collection Resort by Hilton, has unveiled a $40 million renovation, marking the largest transformation in its 50-year history.

Details: The renovation encompasses all guestrooms and public spaces, including:

Residential-style guestrooms: Blending historic charm with contemporary sophistication, featuring rich textures, leather accents, embroidered headboards, and Southwestern patterns. Rates start from $232 per night.
The Stillman Villas: 12 two-story villas with high-end finishes, golf course views, a private pool, and accommodations for up to 14 guests. Rates start from $1,300 per night.
Dining experiences: New outlets include La Fogata Kitchen and Bar (modern Sonoran cuisine), The Madam (speakeasy), The Social Boardroom (casual lounge), and Barnaby's Café + Wine Bar.
Luna Spa: 3,200-square-foot spa with indoor treatment rooms, Zen garden, sauna, steam room, and cold plunge.
Fitness center: 3,000-square-foot facility with cardio machines, Peloton bikes, free weights, and weight machines.
Meeting & event spaces: 45,000 square feet of interior space and 40,000 square feet of outdoor areas, including banquet halls and poolside areas.

Why it matters: The renovation transforms The Scottsdale Resort into a premier leisure destination that will bring more revenue into the local economy.

The big picture: As one of the largest renovations in the Phoenix metro area this year, the resort aims to captivate global travelers and local visitors alike with its enhanced offerings.

What's next: The resort, managed by Driftwood Hospitality Management and part of Hilton's Curio Collection, is now open and accepting reservations.

The bottom line: With its diverse array of culinary, wellness, and recreational offerings, The Scottsdale Resort & Spa emerges as a full-service luxury retreat in the heart of Scottsdale's sought-after McCormick Ranch community.

🎥 Assumable Mortgage Loans Can Sell Your Home Faster in 2024

Are you selling your home? Learn about assumable mortgage loans and how they can give you a competitive edge. Watch this video to find out how you can benefit from this unique opportunity.

☀️ Mesa Tops U.S. Cities for Largest Influx of Retirees

Driving the news: Mesa, Arizona, saw the nation's largest influx of retirees with a net gain of 4,453 seniors aged 60 and older in 2022, according to a new analysis by SmartAsset.

Details:

Mesa's senior population grew by 6,969 new residents aged 60+ who moved in from out of state, offset by 2,516 who moved out.
This influx amounted to the second-fastest incoming rate of seniors in the U.S.
23% of Mesa's population (118,004 residents) is now aged 60 or older.
Out of the top 20 cities attracting the most retirees, 16 were located in the southern U.S., where conditions are generally more favorable for seniors.

Why it matters: The significant growth in Mesa's senior population highlights the city's appeal as a retirement destination, likely due to factors such as favorable weather conditions and a lower cost of living compared to other areas.

The big picture: Arizona as a whole had the second-highest net increase in retirees among all states, with 23,515 more seniors moving in than out. Florida led with a net gain of 77,290 retirees.

What's next: As the senior population continues to grow in Mesa and other Sunbelt cities, local governments and communities will need to plan for increased demand for services, housing, and amenities catering to retirees.

The bottom line: Mesa's status as the top destination for retirees shows the city's appeal for its high quality of life.

🎥 Tour AFFORDABLE Phoenix New Homes w/VIEWS In Peoria: Aloravita Dr Horton Homes

Let’s tour the stunning DR Horton Homes at Aloravita the community in Peoria!

💰 Scottsdale's 85262 Dethrones Paradise Valley as Valley's Wealthiest ZIP Code

Driving the news: The wealthy north Scottsdale ZIP code 85262, home to the exclusive Desert Mountain community, has surpassed Paradise Valley's 85253 as the Valley's top earner based on recent Census data.

Details: Desert Mountain is an 8,300-acre master-planned community with seven golf courses, clubhouses, and a $200,000 initiation fee with a waiting list.

The private, member-owned club is considered one of the world's most prestigious, attracting wealthy individuals seeking an "adult Disneyland" lifestyle.

Other luxury homebuilders like Cullum Homes are developing within the Seven Desert Mountain community, offering pre-purchased club memberships.

The 85262 ZIP code offers a cooler climate, being 10 degrees cooler than Paradise Valley on average, appealing to seasonal and active adult buyers.

Why it matters: The shift in the Valley's wealthiest ZIP code reflects changing lifestyle preferences among affluent buyers, many relocating from areas like Southern California, Chicago, and the Northeast.

The big picture: Scottsdale ranked second in the U.S. for the highest growth rate of millionaires between 2013-2023, with a 102% increase, according to the USA Wealth Report 2024.

Between the lines: Desert Mountain's guard-gated community, extensive hiking trails, and wellness amenities cater to wealthy individuals seeking a secure, retreat-like setting away from the city.

What's next: As more affluent buyers are drawn to the exclusivity and lifestyle offerings of Desert Mountain, demand for luxury homes and memberships in the community is expected to remain strong.

The bottom line: The inbound wealth shift to north Scottsdale's 85262 ZIP code shows the growing appeal of exclusive, master-planned communities like Desert Mountain among the ultra-wealthy seeking a unique, active adult lifestyle.

📊 Market Insights

The housing market in Phoenix is heating up as we get close to spring.

If you are looking to buy a home in this market, new construction is a great option that I highly recommend if you want to avoid competing with other offers.

You’ll want to have a good search and offer strategy when looking for existing homes and be patient because it could take a while to find the right one at your desired price point.