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.
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.