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(Photo courtesy of Deco Communities)

Old Town Scottsdale is set to get a new housing addition, according to Kristena Hansen of the Phoenix Business Journal.

Hansen wrote Tuesday that the area is set to welcome a new project, a $37 million mid-rise condominium project, to the neighborhood.

The eight-story project, called Envy, will be located on roughly a one-acre lot at 75th Street just south of Camelback Road. It will feature 90 for-sale condo units ranging from 800 to 1,750 square feet and starting at $425,000.

There will also be three levels of subterranean parking, a 4,000-square-foot fitness facility with a lounge and juice bar as well as a rooftop saltwater pool and deck with cabanas and 360-degree view.

According to Hansen, the project is set to be developed by the Scottsdale-based multifamily developer Deco Communities and is estimated to be completed in 2016.

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