Alliance Residential’s Broadstone Waterfront (259u) is nearing completion and their two projects on Stetson Drive (Broadstone Industries East (183u) and West (133u)) have both commenced construction. Note that Alliance Residential’s 270u Broadstone at Camelback, adjacent to the Esplanade in central Phoenix, sold in July for a record setting $276,817/unit. Wood Partners’ 218u, five-story Alta Scottsdale on Granite Reef and Indian School Road is scheduled to open at the end of this year.
JLB’s 369u Portales Place on Goldwater, a bit north of Scottsdale Road, should be leasing soon. Mark Taylor’s huge, 440u, San Travesia l at 75th Street and McDowell Road hopes to be open early next year. They are working with COX to be a test case for their new, very high-speed internet. In addition to these apartment projects, Optima is going strong with their 781u, 11-story, Sonoran Village Condo/apartment community located at 68th Street and Camelback Road. These will be condos but rented as apartments.
Deco Communities previously announced the plan to build a 90 unit condo project (Envy) at 75th Street – just south of Camelback, in downtown Scottsdale and recently announced a 2nd condo project with 100 units planned at 7300 E Earll Drive. Trinsio Venture recently purchased 3 acres with the intent to build 134 apartments at the SW/Cor of Main and 69th Street. Transwestern is proposing to build 416 units at the SW/Cor of Osborn and Scottsdale Road. iStar recently announced that they would expand their 480 unit Artesia project located on Scottsdale Road, just north of Indian Bend. The expansion will include an additional 204 condo and brownstone units.
~ Jim Kasten 602-677-0655 or Jim@KLCommercialGroup.com