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Phoenix & Southwest  + Phoenix  + Apartments  | 
Grand Peaks buys $22M parcel in One Scottsdale for apartments

One Scottsdale Attracts Another Apartment Developer

Denver-based apartment builder Grand Peaks bought a three-acre parcel in One Scottsdale, DMB’s expansive mixed-use development at Loop 101 and Scottsdale Road. Grand Peaks paid $22.75 million for the land.

The Phoenix Business Journal reports Grand Peaks plans to build one five-story building totaling 280 apartment units, with a 6.5-story wrapped parking garage totaling 459 parking spaces. This 280-unit apartment community is among several apartment units being planned at One Scottsdale, which has 1,250 units in its 120-acre master site plan.

Upon completion, One Scottsdale will include up to 2.86 million square feet of space for commercial tenants. One Scottsdale will feature retail, restaurants and Class-A office space and hospitality to support a variety of residential choices for those seeking an urban lifestyle in close proximity to amenities.

In June 2022, Dallas-based StreetLights Residential paid $12.7 million to DMB for a 5.7-acre parcel east of the southeast corner of Scottsdale Road and Legacy Boulevard to build 314 units.


Inside The Story

Grand Peaks

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

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