Gary Fries is about ready to start building a $32 million spec home in north Scottsdale — at a time when the market is cooling in metro Phoenix.

But the founder of Scottsdale-based GS Fries Construction isn't worried — even if this project represents the most expensive spec home to ever be built in Arizona.

"We feel very strongly about the design of this home and how it fits within Silverleaf," Fries said. "We always have our finger on the pulse of the economy, but we are not concerned at the moment it's going to directly impact the market for this level of home."

After all, a spec home also in Silverleaf just sold for $28.1 million in an all-cash deal on June 1.

To continue reading, click here.

By Angela Gonzales, Senior Reporter - Phoenix Business Journal