Development Updates in Phoenix:
Phoenix’s real estate development pipeline is chock full of exciting projects for the upcoming year. Here’s a look at the residential and retail developments making recent news.
North Scottsdale Mixed-Use Project
Real Estate Development Firm, Optima, recently announced it will move forward with plans for Optima McDowell Mountain Village, a $1 billion mixed-use community in North Scottsdale. Set to break ground later this year, the development will consist of six concrete-framed, eight-story buildings. The buildings will include 1,330 luxury condominium and apartment units, as well as 36,000 sq. ft. of commercial and retail space.
Luxury Apartments Under Construction in Buckeye
One of the nation’s leading multifamily developers, Thompson Thrift, has plans for the construction of a new luxury apartment development in Buckeye. Named The Maddox, the 252-unit Class A multifamily community will consist of seven, three-story garden style structures with 80 detached garages. Construction is expected to begin this month.
Laveen Towne Center Development Plans
Vestar JV and BRIO Investment Group plan to develop a 375,000-square-foot retail-oriented site, named Laveen Towne Center, that will include the repurposing of a historic farm property in Laveen. The team expects to break ground on the $130 million project in 2024.
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Arizona Digest