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Legacy Partners, a privately held nationalist existent property firm, unneurotic with associated task spouse DWS, a starring planetary plus manager, announced the commencement of operation connected Olea Scottsdale, a 433-residence flat assemblage successful Scottsdale, Arizona.
The task is located northbound of Loop 101 and eastbound of Scottsdale Road, astatine the northwest country of Legacy Boulevard and Miller Road, successful Scottsdale’s fastest increasing neighborhood.
Olea Scottsdale volition dwell of 325 garden-style homes and 108 townhomes. Thirty-eight full buildings are planned, 24 of which volition beryllium townhomes and 14 volition beryllium apartments. Promising a phased delivery, the townhomes volition beryllium completed successful summertime 2027 with the garden-style homes anticipated for autumn 2027. KTGY is the designer for the task and an affiliate of The Dinerstein Companies, a Houston based existent property company, volition beryllium the wide contractor and co-investor successful the project.
Legacy has been processing successful Arizona since the 1970’s and views this task arsenic a unsocial accidental to capitalize connected the region’s beardown macroeconomics.
“Our squad astatine Legacy is excited with the accidental to bring an elevated suburban garden-style merchandise to 1 of the astir sought-after communities successful this portion of the valley” said Tim O’Brien, elder managing manager for Southern California and the Southwest astatine Legacy Partners. “This is simply a unsocial improvement for North Scottsdale which volition conscionable the request for a high-end manner successful a low-density setting.”
The flat buildings borderline Legacy Boulevard and Miller Road with a 25-foot setback, creating a buffer that protects the tract and allows for godforsaken plants to enactment the roadways. The townhomes on Miller Road are acceptable backmost much than 75 feet, allowing country for a canine parkland and protected outdoor amenity areas with views towards the McDowell Mountains.
“This improvement accidental and its plan align with our strategy of investing successful best-in-class residential projects successful submarkets with beardown fundamentals and builds connected our programmatic narration with Legacy Partners to present build-to-core assets connected behalf of our investors,” added Michael J. Nigro, CIO and Head of Value Add & Development, Americas Real Estate astatine DWS.
The project’s determination is highly desirable arsenic the North Scottsdale submarket is among the fastest-growing and highest-rent multifamily submarkets successful the Phoenix MSA. Luxury buying options (including a Whole Foods-anchored buying halfway 1.0 miles from the project), world-class resorts and play courses. With its proximity to the Loop 101, North Scottsdale presents residents with convenient entree to 2 of Arizona’s largest employment concentrations, the Scottsdale Airpark, and the Kierland Corridor.
The station Construction Starts connected Scottsdale 433-Unit Luxury Community appeared archetypal connected Greater Phoenix In Business Magazine.
