Scottsdale development projects

Scottsdale is experiencing a surge of new development projects either planned or under construction.

Among the more high-profile are a $135 million Blue Sky apartments near Scottsdale Fashion Square and the Optima Sonoran Village condominium complex southeast of Camelback and 68th Street. Developers are hoping to construct a total of 5,700 apartment units in at least 18 projects citywide. Nearly two-thirds of the proposed units are downtown and along McDowell Road.



Blue Sky -- Construction is expected to start this summer on the $135 million, 13-story apartment complex on Scottsdale Road just north of Camelback Road and across from Scottsdale Fashion Square.



Mark-Taylor -- Mark-Taylor Residential Inc. is planning 536 apartment units at 74th Street and McDowell Road, the old Los Arcos site. The city in September also agreed to sell the apartment developer 3.74 acres of city-owned land nearby for the complex.



Maravilla Scottsdale --The resort-style senior community is scheduled for completion in May just west of the Fairmont Scottsdale Princess resort. Plans call for 217 residences, including 36 assisted-living units and 24 memory-care units.



Scottsdale Retail Plaza --The City Council just cleared the way for development of the new beach club in the downtown-entertainment district south of Camelback Road and east of Scottsdale Road. Plans include an indoor/outdoor pool club in the center, a building with restaurant and bar space on the western side and a three-tenant building intended for restaurant and bar use on the eastern side.



Reata Ranch -- Developer Taber Anderson wants to build up to 35 lodge units, 75 cabins, 120 casitas and 100 villas at the guest ranch, which could include stables and hiking and equestrian trails into the nearby McDowell Sonoran Preserve.



Optima Sonoran Village -- Initial site work began last fall on the 10-acre property southeast of Camelback Road and 68th Street, with the first phase of 210 units expected to be finished by September 2013. The project primarily is a condominium development, with rental units available.

by Beth Duckett - Apr. 27, 2012 08:53 AM The Republic | azcentral.com



Scottsdale development projects

Phoenix Optima condo developer set for 3rd effort

Rendering courtesy of Optima The project will be called Optima Sonoran Village and will be located on nearly 10 acres at the northeastern corner of Camelback Road and 68th Street in Scottsdale, according to co-developers Optima Inc. of Glencoe, Ill., and DeBartolo Development LLC of Tampa.



The developer of two luxury-condominium projects in the Phoenix area said it has secured land and financing to develop a new project near Scottsdale Fashion Square.

The project will be called Optima Sonoran Village and will be located on nearly 10 acres at the northeastern corner of Camelback Road and 68th Street in Scottsdale, according to co-developers Optima Inc. of Glencoe, Ill., and DeBartolo Development LLC of Tampa.

Like its sister project, Optima Camelview Village, 7177 E. Rancho Vista Drive in Scottsdale, Optima Sonoran Village will be a multiphase residential project made up of tiered levels covered with greenery, the developers said.

Unlike the two previous projects, which include Optima Biltmore Towers, 4808 N. 24th St. in Phoenix, the next Optima project will begin as an apartment community.

Optima Sonoran Village's first, 210-unit phase will be developed by Optima Sonoran Village Phase I LLC, a joint venture between Optima, a multifamily-housing developer, and DeBartolo, a real-estate investment firm specializing in multifamily, hospitality, retail and mixed-use projects.

The first phase is scheduled to break ground in 2012 and begin leasing in 2013, the developer said.

Architect and Optima founder David Hovey said Optima Sonoran will be similar to Optima Camelview in that its architecture will be designed to blend in with the surrounding environment.

"Each residential unit will have a private, landscaped green roof terrace creating an indoor-outdoor experience for our residents and a dynamic visual esthetic for the development," he said.

Optima acquired the 10-acre site in July 2009. The company declined to provide estimated development costs, apartment sizes or monthly lease rates.

Optima Sonoran's initial phase will consist of a seven-story terraced building with 210 luxury residential units.

Eventually, five interconnected buildings will be linked by bridges with supporting commercial, retail and restaurant services, and over 5.5 acres of landscaped courtyards interspersed with pools, spas, water features and sculptures, the company said.

The entire project will be completed in five phases and may be converted to condominiums in the future, an Optima spokeswoman said.

Most luxury-condominium developers have been struggling lately, while upscale-apartment operators have been enjoying growth in occupancy and lease rates.

by J. Craig Anderson The Arizona Republic Nov. 24, 2011 06:42 PM




Phoenix Optima condo developer set for 3rd effort