Grand Peaks, a Denver-based apartment builder, has recently acquired a three-acre parcel in One Scottsdale. The expansive mixed-use development is located at Loop 101 and Scottsdale Road. The purchase price for the land was $22.75 million.
According to the Phoenix Business Journal, Grand Peaks intends to construct one five-story building with 280 apartment units on the site. Additionally, there will be a 6.5-story parking garage with 459 spaces available for residents’ use. This new community will be part of One Scottsdale’s overall plan which includes up to 2,86 million square feet of commercial space and over 1,250 residential units.
One Scottsdale offers an urban lifestyle with various amenities such as retail shops, restaurants and Class-A office space along with hospitality options for its residents.
In June of next year (2022), Dallas-based StreetLights Residential purchased another parcel from DMB within close proximity to this location – paying $12..7 million for a total of approximately six acres – where they plan on constructing an additional complex consisting of approximately314 apartments units.
