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Phoenix & Southwest  + Phoenix  + Apartments  |  June 4, 2026
IKONIC
Mike Boyd
By: Mike Boyd

Scottsdale Developer Inks $141M Construction Loan for Luxury Apartments

The Hampton Group has secured $141 million in construction financing for the development of IKONIC Scottsdale, a 14-story, 245-unit luxury multifamily rental tower in Scottsdale, Ariz. Completion is slated for 2028.

Multihousing News reports that Greystone arranged the loan, which consisted of a senior mortgage from Bank OZK and a mezzanine loan from Related Fund Management. Greystone’s team was led by Drew Fletcher, Bryan Grover and Jesse Kopecky.

IKONIC Scottsdale is being designed by Gensler and constructed by Gilbane Building Co. The tower will rise at 16640 North Scottsdale Road, at the intersection of North Scottsdale and Bell roads. The community will feature a mix of one-, two- and three-bedroom residences averaging approximately 1,062 square feet.

The property’s amenity package will include a 24/7 concierge, rooftop pool and spa, as well as a fitness center, a co-working lounge and a double-height lobby.

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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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