The City of Scottsdale is reviewing plans for a $100 million mixed-use project near the high-profile intersection of Scottsdale Blvd and Shea.

The Phoenix Business Journal reports DPC Cos, along with High Street Residential, are teaming up on what’s to be called Cosanti Commons, a four-story structure with 240 multifamily units. The new venture will replace a portion of an existing multitenant commercial building located on the 8.5-acre site. The project will retain 79,200 square feet of an existing building at the site.

The development will focus on less expensive studio and one-bedroom residences to serve the nearby workforce, which includes teachers, nurses, small business owners and employees.

Denver-based DPC Cos has developed projects in the Valley, such as Scottsdale Entrada and the Park at San Tan in Chandler. High Street Residential will build the new building. The rest of the development team includes Minneapolis-based ESG as the architect and Sustainability Engineering Group as the architect. 

On April 18, join multihousing’s leaders and dealmakers when they explore the most important topics facing the Phoenix and Scottsdale markets today. Register to attend and hear expert insights first-hand, network with the best in the industry, and sit in on discussions you won’t hear anywhere else. Connect Phoenix Multifamily & Single-Family Build-to-Rent on April 18 at the Westin Kierland Resort & Spa.