North Scottsdale Property Among Best Locations in the Valley
DMB Associates, Inc., the developers behind highly acclaimed DC Ranch and numerous other communities across the Phoenix metropolitan area, announced that construction has started, and activity is thriving on the next phases of One Scottsdale, comprised of 75 acres just north of Loop 101 on Scottsdale Road.
The 21-acre portion of the property located between Thompson Peak Parkway and Legacy Boulevard currently consists of a Hilton Home2Suites hotel along with several retail/dining shops and medical offices. There are several other users looking at the site for additional uses that are currently in negotiations and would take a majority of the remaining land.
Company officials said completion of the infrastructure to support the first phase hotel and retail deals, which closed on the property in 2021 is expected by the end of this month. The Hotel will be the first building to be completed in this phase and is projecting an opening in October 2022. The first retail building is expected to commence construction this summer with an opening in 2023.
South of Legacy Boulevard is another 54 acres of One Scottsdale that DMB is planning for as a mixed-use “village”. It is currently anchored by several for rent and for sale residential projects, a potential resort hotel and a mixed-use restaurant/office project consisting of approximately 200,000 sf. DMB began initiating this phase of development in 2020 and just closed on the first, class-A multi-family parcel with StreetLights Residential earlier this month.
“North Scottsdale has evolved into an incredibly, dynamic area. We were honored to play a role in that with DC Ranch and now with One Scottsdale. Because of our proximity to vibrant neighborhoods like Grayhawk, new corporate headquarters along the 101 and thriving luxury hotels, car dealerships and shopping to our south we’re pleased that our next phases will largely add some additional opportunities to support what is already developed around us,” said Michael Burke, DMB Senior Vice President of Commercial Development.
All told it will likely take about 7-10 years for the full build-out of One Scottsdale’s 75 acres depending on the market.