New Paradise Valley community with $18M mansion underway.
By Catherine Reagor | July 13, 2024
Construction is underway on a new luxury community in Paradise Valley, and the first home will be an $18 million, almost 12,000-square-foot estate with 10 bathrooms.
Silver Sky Development is building the 18-acre community called Silver Sky. The streets and other infrastructure are being built now.
The first home — called "Nova" — will be a European-style estate with six bedrooms, a large wellness center with a sauna and a cold plunge. The mansion will also have a pickleball court in the backyard.
The second home will be a 9,000-square-foot mansion, "Aquarius," with multiple water features, including a pond, a zero-edge pool and two outdoor showers. The Ibiza-style home that will also have a rooftop deck has been listed for $17 million.
Jeremy Takas, managing partner of Silver Sky, said the vision is to create a luxury residential community on some of the last vacant land in Paradise Valley.
Twelve parcels are planned in the development, but it might not have that many houses if buyers purchase multiple sites for a home. Four parcels in the community are under contract.
The median home price in Paradise Valley was $2.62 million for the first quarter of the year. That's down 13% from the first quarter of 2023.
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