PHOENIX (KSAZ) - In less than two weeks, the Ritz-Carlton will put nearly 100 residences on the market i Paradise Valley. The homes will be part of the Ritz-Carlton hotel which is under construction near Lincoln and Scottsdale Road.
And while the homes start at $1 million, developers expect to sell out in just one day.
Brendan Mann of the Ritz Carlton says it's a sign of things to come.
"Absolutely, we are seeing that the luxury market is back with the Ritz Carlton brand and having residential opportunities to live within the gates," he said.
The villas range from one to four bedrooms and 1,000 to 1,400 square-feet.
"We certainly couldn't open up on a certain day and say, 'line up and show up,'" Mann said. "We had to have an exclusive priority reservation process, which allows us to understand the needs, wants and desires of the potential purchasers, and help them have an orderly way to select their home on June 11 and secure their place within the gates of the Ritz Carlton.
Mann also says this is the epitome of luxury in every way.
"The Ritz Carlton is worldwide-known as the number one luxury brand," he said. "We are so very fortunate to be bringing that to Arizona."
If you're interested in looking at one of these homes, your opportunity arrives on June 11.