As the Arcadia Proper neighborhood in northeast Phoenix reaches its 75th anniversary of residential development, the neighborhood continues to weather economic headwinds to be one of the city’s most desirable places to live. 

“Arcadia has that cozy, neighborhood feel,” said Chris Karas, Compass Arizona founder and president of the Karas Group. “It’s hard to find that in . Once people move into the neighborhood, they seldom leave.”

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The small, nearly rectangular swath of land was largely agricultural until the mid-1950s when a first batch of homes popped up in the neighborhood, many of which still exist today with popular design and durable construction. Some buyers choose to modernize those mid-century homes, of these homes are being modernized while others are snatching them up for their large lot sizes. 

“We are really seeing the transfer of generational wealth in the $3 million to $5 million range,” said Libby Cohen, ROCO Luxury Homes founding partner and partner at Arizona real estate  brokerage Retsy. 

A home in Arcadia Proper with its own batting cage and a large kitchen was on the market earlier this year.Photo: Phil Johnson, Provisuals Media

The neighborhood is uniquely situated just west of affluent Scottsdale, with which it shares a blurry boundary. While it takes advantage of the proximity, buyers seek out Arcadia for its walkability, character and heritage. 

“Arcadia is like a little secret,” Cohen added.

Prices

Arcadia joins the long list of neighborhoods that were once considered affordable, but have quickly become more expensive.

“You’d be hard pressed to find anything under $2 million that you wouldn’t want to significantly renovate,” Cohen said.

Most of what remains in the $2 million to $3 million price point lies south of Lafayette Street, on a narrow strip of the neighborhood, according to agent and Local Luxury Christie’s International Real Estate owner Katrina Barrett. 

The Agency’s Adrian Heyman and Artie Baxter were co-listing agents on a recent $3.45 million sale of on East Calle Del Norte: a four-bed, three-bath home spread across almost 4,000 square feet. The house certainly retains much of its 1963-era character, but was fully renovated to meet the needs of modern living with an expansive kitchen and that desirable 0.55-acre lot size. 

Among the limited listings above $10 million is a Mediterranean-style mansion on East Arcadia Lane. The five-bedroom, seven-bathrooms estate full of Tuscan-inspired finishes includes a pool, a wine cellar and a detached guest house. It’s currently on the market for $13 million. 

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Amenities 

Most of the agents interviewed live in Arcadia. Some even grew up there. There’s plenty of passion for this small parcel within Phoenix, and it’s clear that the proximity to Scottsdale along with one of the city’s more desirable school systems keeps families in place for generations.

“Over the past 30 years Arcadia has changed dramatically,” said Cohen, who grew up in the neighborhood and still lives there.

A modern home in Arcadia Proper with a pool is asking $1.749 million.Photo: UPMKT via eXp Realty

She, like many, loves the proximity to popular hiking destination Camelback Mountain, two luxury resorts within Arcadia and the ample other well-off districts nearby. It’s also close to Phoenix Sky Harbor International Airport and the private aviation hub in Scottsdale. 

Celebrity Residents

While it’s unclear which, if any, celebrities live in Arcadia Proper, many call neighboring Scottsdale and Paradise Valley, at Arcadia’s northern edge, home. Several former athletes, including NBA star Charles Barkley, former Arizona Cardinal quarterback Kurt Warner and former race car driver Danica Patrick have had homes in Scottsdale. Olympian Michael Phelps also lives in the area. Musicians have also found respite near Arcadia. Poison lead singer Bret Michaels has long lived in North Scottsdale. Singer Alicia Keys and husband, musician Swizz Beatz, live in nearby Paradise Valley.

Heyman remains rosy on Arcadia’s future.

“When properties come up, they’re not on the market long at all,” the managing director of The Agency’s Scottsdale office said. 

The neighborhood’s location is so desirable, that it’s likely always going to attract buyers who want to be centrally located, but without some of the suburban sprawl that’s now synonymous with the greater Phoenix area.

At the higher end of the market, Barrett noted that developers are more inclined to take a risk on developing a $20 million property with the sustained strength from the wealthiest would-be buyers. 

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A 2020-built modern Italian farmhouse on a cul-de-sac in the exclusive Arcadia Proper neighborhood is asking $5.99 million.Photo: UPMKT/DeLex Realty

“Historically, it would have been scary to spec that kind of home, but now it’s safer for builders to build toward that,” she said.

Since the legacy large lots are limited, that’s going to bring new tension over how and where developers can combine smaller lots to build for that price point. Karas added that some of those large-lot owners are now in a position to build the spec home of their dreams, fitting their ideal home into the existing lot, and that puts further pressure on an already-strained inventory.