Scottsdale & Paradise Valley Development News

[CrestedSaguaro]

Originally Posted by Mr.RE

Demolition has begun for this site in Scottsdale. Trucks are moving debris from the torn down building. Looks like this one is happening!

This is what...12 stories? Not bad for Scottsdale.

[TakeFive]

Cool videos of The Ritz-Carlton Residences
two years into this $2 billion project.

Video Link

https://azbigmedia.com/real-estate/c...jects-in-2019/

Don’t be fooled if the progress looks sparse from an outside point of view — a significant amount of construction is happening underground, including parking garages. In fact, according to The Arizona Republic in January of 2019, CEO Jerry Ayoub of Five Star Development said, “It’s like an underground city and now we’ve finally got a couple levels on

Video Link

[Mr.RE]

Great update! Thanks for sharing those.

[Mr.RE]

http://azbex.com/scottsdale-hotel-lo...plan-approval/

Hotel Proposed near the intersection of Scottsdale & Thomas. Nothing too big but this area just continues to densify along Scottsdale road.

[Obadno]

Optima Buys more land in keirland

Scottsdale-based real estate development firm Optima has bought two properties next to its $500 million Optima Kierland Center near downtown Scottsdale, giving it more room to build luxury condominium towers.

Optima President David Hovey Jr. said Optima recently purchased the building currently occupied by La Maison Interiors, 15450 N. Scottsdale Road, and a nearby office building at 15615 N. 71st St.

Together, those properties represent nearly a dozen acres, he said, but it's too soon to reveal details for that next project.

"We're just still in the planning process for that," Hovey said. "We plan on submitting an application for zoning in the next couple of weeks."

The project on the La Maison property likely will be 10 stories, while the office building will be razed for a six-story structure with rooftop amenities. Hovey said he doesn't have a time frame for the projects' development yet.

"The plan is to lease and sell and close our current towers and analyze the market," he said. "We will decide on construction startup at a later date."

While he declined to reveal purchase prices of those two properties, Vizzda LLC real estate database records show Optima paid $15 million to DMB Associates Inc. on May 15 for the 25,000-square-foot La Maison Interiors building. Records provided by Reonomy real estate database show San Tan Hotel Partners LLC sold the 17,478-square-foot office building for $5.75 million in December 2018 to Phoenix 71st Street LLC, an entity tracing to Tara S. Hovey.

DMB Associates sold the La Maison building to Optima after the Phoenix City Council last October denied a request to allow a high-rise residential and hotel development on that site. The development would have contained about 170 multifamily residential dwelling units, 210 hotel rooms and other commercial uses on 1.93 acres.

Alan Reinken, founder of La Maison Interiors, said his store has a long-term lease, but wouldn't identify how many years that represents.

"I'm not willing to share time frames," he said. "We're here for a long time. We're here to stay."

He said he realizes the lease will end "at some point, but not for awhile."

Meanwhile, Optima is about three months into construction of its third and fourth luxury residential towers, including 7180 Optima Kierland, set to open in late 2020. Those homes are priced from the mid $400,000s to more than $2 million.

That project follows on the heels of the completion of the 7120 Optima Kierland.

The entire development totals about $500 million, Hovey said.

While Optima's headquarters currently are in Scottsdale, plans call for moving its offices to Kierland, Hovey said.

[ASUSunDevil]

I was selfishly hoping that Optima's next project would be in Downtown PHX, but it makes sense to expand in Kierland with the way those units have been selling/leasing.

I think Optima will build a 40+ story Downtown in 5'ish or whenever this one gets completed. Their last building in Chicago was 57 stories and the demand for luxury condo's Downtown should be there by then. You heard it here first

[Obadno]

Originally Posted by ASUSunDevil

I was selfishly hoping that Optima's next project would be in Downtown PHX, but it makes sense to expand in Kierland with the way those units have been selling/leasing.

I think Optima will build a 40+ story Downtown in 5'ish or whenever this one gets completed. Their last building in Chicago was 57 stories and the demand for luxury condo's Downtown should be there by then. You heard it here first

Weren't they planning on it back before 08? I know they have said multiple times over the years they are interested in building downtown.

[ASU Diablo]

Originally Posted by Obadno

Weren't they planning on it back before 08? I know they have said multiple times over the years they are interested in building downtown.

Yeah I remember that as well. They better hurry up or they going to run out of land to build on

[Mr.RE]

Itll be a century before downtown phoenix lots fill up. Love to see more height rather than the 4-6 story stucco boxes go up everywhere. Next cycle I'm sure higher density will be the new normal in phoenix.

[ASU Diablo]

I should've been more clear. I would love to see one of these Optima Towers in the actual core rather closer to Roosevelt/Fillmore neighborhoods or south in Warehouse District

[Phxguy]

https://azbex.com/new-hilton-hotel-c...ntmt-district/

A new Hilton hotel is expected to break ground this fall on the former site of Don and Charlie’s Steakhouse.

[ASU Diablo]

Surprised this was actually approved. Is downtown Scottsdale and its City Council being more receptive to increases in height/density? Looks like it. But the Scottsdale views dammitt...

https://www.azcentral.com/story/news...wn/2133322001/

[xymox]

Originally Posted by ASU Diablo

Surprised this was actually approved. Is downtown Scottsdale and its City Council being more receptive to increases in height/density? Looks like it. But the Scottsdale views dammitt...

https://www.azcentral.com/story/news...wn/2133322001/

I'm glad it was - I got into an argument on Nextdoor over it with some woman up in McDowell Mtn Ranch who was extremely upset over it. Totally ridiculous... (both her and most threads on Nextdoor)

[combusean]

I got confused for a sec and thought she was complaining about proposed height in Kierland, which if you moved long enough ago to the physical outer edge of the built area I could have some sympathy to resisting ever higher-density--some.

But being opposed to something downtown 13 miles away is just batty, especially when there's been a precedent of height there for nearly 50 years.

I believe this building is at or near the unofficial height limit of Downtown Scottsdale which the Waterfront hit many years ago.

[CrestedSaguaro]

Originally Posted by xymox

I'm glad it was - I got into an argument on Nextdoor over it with some woman up in McDowell Mtn Ranch who was extremely upset over it. Totally ridiculous... (both her and most threads on Nextdoor)

Nextdoor drives me nuts. Someone posted on their a while back to stop building high-rises in Downtown Phoenix for some crazy reason. Maybe it was the same person

[xymox]

Originally Posted by combusean

I got confused for a sec and thought she was complaining about proposed height in Kierland, which if you moved long enough ago to the physical outer edge of the built area I could have some sympathy to resisting ever higher-density--some.

But being opposed to something downtown 13 miles away is just batty, especially when there's been a precedent of height there for nearly 50 years.

I believe this building is at or near the unofficial height limit of Downtown Scottsdale which the Waterfront hit many years ago.

I have zero sympathy of anyone who moves into an area and doesn't look at the long range plans (zoning, etc). Keirland's density planning was obvious 15 years ago. You're making a large financial investment - so do your research. Don't be upset when the area around you changes.

The argument pretty much ended after I asked her where developers should build tall buildings if not in downtown, urban areas of the city? I also noted that quite a few cities with populations LESS than Scottsdale have multiple buildings taller than 150ft (i.e. Stamford, CT).

Yes, Nextdoor is a great site to join just to reaffirm why you never bothered to meet the neighbors...

[biggus diggus]

I lived downtown for years so when I moved up to North Central I didn't know any of my new neighbors. I logged onto Next Door thinking I could introduce myself but after about 60 days deleted the account.

Most posts were about seeing "undesirables" on the bridle path or being upset that people are driving too fast in the school zone in front of All Saints and other mindless drivel.

"this is supposed to be a nice neighborhood!! I went to my car this morning and someone took my passport and my purse out of it overnight! I am so lost, what do I do? How can people be so awful?" was my sign that this wasn't the type of people I wanted to interact with. I probably didn't get that quote 100% correct but that was the content.

[muertecaza]

Originally Posted by biggus diggus

I lived downtown for years so when I moved up to North Central I didn't know any of my new neighbors. I logged onto Next Door thinking I could introduce myself but after about 60 days deleted the account.

Most posts were about seeing "undesirables" on the bridle path or being upset that people are driving too fast in the school zone in front of All Saints and other mindless drivel.

"this is supposed to be a nice neighborhood!! I went to my car this morning and someone took my passport and my purse out of it overnight! I am so lost, what do I do? How can people be so awful?" was my sign that this wasn't the type of people I wanted to interact with. I probably didn't get that quote 100% correct but that was the content.

Haven't used NextDoor in a long time, but the group for my area was actually pretty entertaining--the main topic of conversation I remember is the mass neighborhood action organized to solve the mystery of half-a-dozen mutilated cats that were found around the neighborhood. Big debate about whether it was a coyote, or something more nefarious.

[xymox]

Originally Posted by biggus diggus

I lived downtown for years so when I moved up to North Central I didn't know any of my new neighbors. I logged onto Next Door thinking I could introduce myself but after about 60 days deleted the account.

Most posts were about seeing "undesirables" on the bridle path or being upset that people are driving too fast in the school zone in front of All Saints and other mindless drivel.

"this is supposed to be a nice neighborhood!! I went to my car this morning and someone took my passport and my purse out of it overnight! I am so lost, what do I do? How can people be so awful?" was my sign that this wasn't the type of people I wanted to interact with. I probably didn't get that quote 100% correct but that was the content.

Its helpful when you move into a new area - you get a quick sense of what sort of crime is in the area and other issues. Granted - the individuals in my 'range' of neighborhoods seem more educated than my last place (which included Desert Hills - 'nuff said) so there are some 'sane' discussions. There's also couple of us who debunk bs crap - like the 5G FUD that has been spread around lately - with actual facts. But there are still plenty of retirees who spread these shit threads around because they simply don't have anything else to do.

But that always got me - the car break ins don't seem to happen as often here as they did where I used to live. And in that place, one brainiac complained that his truck was broken in for the 4th time - and someone stole his new gun that he bought to replace the last one that was stolen previously week earlier. Turns out the guy never thought to lock his car...

[biggus diggus]

This boggles my mind. My car was broken into about 25 years ago and they stole my stereo and nothing else. Do you know why they stole nothing else? Because I don't keep things in my car that I can't afford to lose like guns and passports.

Do you know the liability in having a gun stolen? ugh.