Pivotal Group to Develop Esplanade Place; Offering Luxury Residential Living At 24th St. & Camelback.Business Editors NOTE TO MEDIA: Photo is available in a Smart News Release(TM) on Business Wire's Home Page at www.businesswire.com PHOENIX--(BUSINESS WIRE)--Nov. 28, 2000 The Pivotal Simon Group, in collaboration with homebuilder Geoffrey H. Edmunds, Tuesday announced plans to develop Esplanade Place, a 12-story, 56-home luxury condominium high-rise situated within the renowned Camelback cam·el·back adj. Shaped like a hump or an arching curve. n. New Orleans A narrow house with one story in front and two in the rear. See Regional Note at beignet. Esplanade. "This development will offer an unparalleled cosmopolitan lifestyle for residents who want to enjoy the dynamic Esplanade area," said Francis Najafi, chief executive officer of The Pivotal Group. "The experience and reputation of Geoffrey H. Edmunds, coupled with a cutting edge design and close proximity to the area's many restaurants and amenities, will make Esplanade Place the definitive standard for luxury urban living in Phoenix." Located in the heart of Phoenix's prestigious Camelback Corridor on Esplanade Lane at the southeast corner of Camelback and 24th Street, Esplanade Place will be adjacent to the Ritz-Carlton Hotel and within walking distance of the Biltmore Fashion Park Biltmore Fashion Park is a large outdoor shopping center located in Phoenix, Arizona. It is owned by Westcor, a company specializing in retail center development, which was purchased by Macerich in 2002. . The site's centralized location also will provide ready access to business and recreational amenities throughout the Valley via the Squaw Peak Freeway. Ground breaking for Esplanade Place is expected in spring 2001 with completion and move-in anticipated for summer 2002. Homes will be available for sale after the first of the year. Esplanade Place will have homes ranging from 2,400 to 4,250 square feet, with prices projected from half a million dollars to $2.5 million. Designed with an intimate yet spacious layout, only four to five homes will be developed on each floor. Crafted with an innovative mix of granite and other natural stones, Esplanade Place will have several floor plans to choose from. In addition to the finest home products and finishes available, homes will include great rooms, media centers, studies and balconies to enjoy city and mountain views. The first floor of Esplanade Place will feature a concierge and doorman-staffed lobby; state-of-the-art fitness center; distinguished clubroom club·room n. A room used for meetings or activities of a club. Noun 1. clubroom - a room used for the activities of a club ; full service business center; and a 12-foot water feature. A secured, access-controlled underground parking structure will offer direct, car-to-residence elevator service. On floors two through nine, the residences range from 2,400 to 3,550 square feet, while floors 10, 11, 12 and the penthouse will have residences ranging from 3,075 to 4,250 square feet. A rooftop spa, sundeck and negative edge pool will complete the luxury high-rise. Esplanade Place will provide residents with numerous hotel-style amenities, including valet parking valet parking n. Parking arrangements provided by a commercial establishment, such as a restaurant, whereby patrons leave their cars at the entrance and attendants park and retrieve them. Noun 1. , concierge, mail, maintenance, business support and laundry/dry cleaning services. "Esplanade Place represents the epitome of luxury high-rise living in the Valley," said Edmunds. "Its exclusivity and services will make this project the ultimate in luxury high-rise living." Phoenix-based Cornoyer-Hedrick is the architect for Esplanade Place. McCarthy is the general contractor. The Pivotal Group is an institutionally based diversified real estate investment and development firm widely recognized for its ability to create high-quality residential and business environments. Earlier this year, Pivotal Group purchased 650 California Street, a nearly 500,000-square-foot, 33-story Class A landmark office building in San Francisco. In recent years, Pivotal's notable acquisition and development activities include Ritz-Carlton Phoenix; Camelback Esplanade in Phoenix; WestWing Mountain, a 1,300-acre master planned community in northwest Phoenix; the landmark Century Plaza Hotel The Century Plaza Hotel in Los Angeles is a landmark 19-story luxury hotel forming a sweeping crescent design fronting the spectacular fountains on Avenue of the Stars adjacent to the twin Century Plaza Towers. and St. Regis Hotel in Los Angeles; Promontory promontory /prom·on·to·ry/ (prom´on-tor?e) a projecting process or eminence. prom·on·to·ry n. A projecting part. promontory a projecting process or eminence. , a $500 million, 6,000-acre master planned resort community in Summit County, Utah Summit County is a county located in the state of Utah, occupying a rugged and mountainous area. In 2000 its population was 29,736; in 2005, it was estimated to have reached 35,001. The county is so named because it includes 39 of the highest mountain peaks in Utah. ; Red Mountain Spa, a luxury spa resort near St. George, Utah St. George is a city located in the southwestern part of the U.S. state of Utah, and the county seat of Washington County, Utah.GR6 It is the principal city of and is included in the St. George, Utah Metropolitan Statistical Area. ; and a variety of other real estate assets located throughout the western United States Noun 1. western United States - the region of the United States lying to the west of the Mississippi River West Santa Fe Trail - a trail that extends from Missouri to New Mexico; an important route for settlers moving west in the 19th century . The Pivotal Simon Group is a partnership between Phoenix-based Pivotal Group and Los Angeles-based William E. Simon William Edward Simon (November 27 1927 – June 3 2000) was a businessman, a Secretary of Treasury of the U.S. for three years, and a philanthropist. He became the 63rd Secretary of the Treasury on May 8 1974, during the Nixon administration. & Sons Realty. Note: A Photo is available at URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.businesswire.com/cgi-bin/photo.cgi?pw.112800/bb2 |
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