By: Helena Wegner, Phoenix Business Journal

SCOTTSDALE, AZ — Jim Riggs has been eyeing a 3.5-acre parcel of land in north Scottsdale for years in hopes of turning it into a luxury garage condominium for car collectors.

Now, he's a step closer to owning the land where his firm, Platinum Advisors LLC, has plans to develop Elite Garages Scottsdale for just under $20 million on the southwest corner of Bell Road and 91st Street, just off Loop 101, in the Scottsdale Airpark. Riggs said he's currently in escrow on the vacant parcel and has submitted an application with the city to rezone the land to allow for the garage condos.

Rigg's project lines up just as Finish Line Auto Club, another luxury car storage facility, is in the works in Scottsdale. The country club-esque facility is planned to be constructed at 17600 N. Perimeter Center Dr., where Fender Musical Instruments Corp. was previously headquartered.

Read more of this story from the Business Journal.