Scottsdale, Arizona is world renowned as a resort destination and vacation spot, BUT, it is also a great place to live, work and play. With some of the best restaurants in the nation, world class shopping and beautiful vistas, this city says 'you have a arrived'!
Scottsdale is a city in the eastern part of Maricopa County, Arizona, adjacent to the Greater Phoenix Area. Named Scottsdale in 1894 after founder Winfield Scott and incorporated in 1951 with a population of 2000, the 2014 population of the city is estimated to be 230,512, according to the U.S. Census Bureau. The New York Times described downtown Scottsdale as "a desert version of Miami's South Beach" and as having "plenty of late night partying and a buzzing hotel scene". Its slogan is "The West's Most Western Town".
Scottsdale, 31 miles long and 11.4 miles wide at its widest point, shares boundaries with many other municipalities and entities. On the west, Scottsdale is bordered by Phoenix, Paradise Valley, and unincorporated Maricopa County land. Carefree is also located along the western boundary, as well as sharing Scottsdale's northern boundary with the Tonto National Forest. To the south Scottsdale is bordered by Tempe. The southern boundary is also occupied by the Salt River Pima-Maricopa Indian Community, which also extends along the Eastern boundary, which also borders Fountain Hills, the McDowell Mountain Regional Park and more unincorporated Maricopa County land.
The city is loosely divided into four areas: South Scottsdale (McKellips Road north to Thomas Road), Old Town (Downtown) Scottsdale, Central Scottsdale (also known as the "Shea Corridor", extending from Camelback Road north to Shea Boulevard), and North Scottsdale. The real estate market in Scottsdale is among the most expensive in the United States. In 2005, Scottsdale was among the top ten markets in the nation for luxury home sales, and one of two cities outside of California. Scottsdale was ranked tenth with $594 million in luxury home sales.
South Scottsdale has for many years been the working class region of Scottsdale. The median resale home price is $291,500, compared to $667,450 in North Scottsdale. A portion of McDowell Road in South Scottsdale used to be known as "Motor Mile", having at one time 31 dealerships represented along the street. The strip, at one time, generated over $10 million in sale tax revenue each year and was one of the most profitable auto-miles in the United States. In recent years, many of these dealerships have left the city, including 6 in 2008 alone. South Scottsdale is the home to a new research center for Arizona State University, known as SkySong, a collaboration between the university, local business, and global companies. The development has attracted the research and development arms of a number of international corporations.
Old Town Scottsdale is an area with many streets, old fashion stores, restaurants, bars, nightclubs, and art galleries. It contains the major nightlife for the area and is a major art center of metro Phoenix. Scottsdale's main cultural district is also in this area, which includes the high-end Scottsdale Fashion Square Mall, one of the twenty largest malls in the United States,. The district has currently seen a revival, with new condominiums and hotels under construction. Below is Scottsdale Market update excluding the North Scottsdale Area described below.
The Shea Corridor is so named because it is in close proximity to the east-west running Shea Boulevard. The homes in this region were generally built during the 1970s. Real estate in the Shea Corridor (Central Scottsdale) has increased during the 1990s, and overall, the Phoenix-Mesa-Scottsdale real estate market saw the largest gain in home prices in the nation during the mid-2000s with a 38.4% increase in value. There are a number of communities in this central region of Scottsdale that remain among the most highly desired residential areas in the metropolitan area, including Gainey Ranch and McCormick Ranch. A large portion of Scottsdale Road in the Shea Corridor has been dubbed the Resort Corridor for the high number of resorts locating on the street. The second Ritz Carlton in the Phoenix metropolitan area will be constructed along this corridor.
North Scottsdale is currently the most actively developed area of Scottsdale as it was historically the least built up. This portion of the city also claims many of the most expensive homes in Arizona, with many exceeding $5 million in value. The city's borders are rapidly expanding to the east and west in this area, containing the McDowell Mountain range. Much of the residential boom in North Scottsdale is driven by available land to build coupled with the fast growth of Scottsdale Airpark, the second largest employment center in the Phoenix metropolitan, and estimated to become the largest by 2010. The Scottsdale Airpark, home to over 55,000 employees, 2,600 businesses and 23,000,000 square feet (2,100,000 m2) of office space is expected to continue growing by over 3,000 employees per year. Many important companies are headquartered or have regional headquarters in the park, including AXA, GE Capital, DHL, Discount Tire Company, Fidelity Investments, JDA Software, GoDaddy.com, and The Vanguard Group.
North Scottsdale Market update video is below.
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