Initial papers have been submitted to the City of Scottsdale for the construction of a $1 billion residential community that will go up on the north side of the city.
The project, as proposed by Optima Incorporated, which is also based in Scottsdale, will see the building of up to 1,500 upscale residential units.
Set to go up at the southeast corner of Scottsdale Road and Loop 101, the project has already been the subject of one neighborhood outreach meeting.
With offices also in Chicago, Optima specializes in the development of both urban and suburban luxury communities. Founded in 1978, the company puts an emphasis on the design of its projects and earlier this year was given an American Architecture Award for its Optima Sonoran Village project.
That project, located at 6895 E. Camelback Road in Scottsdale and with rents topping out at $4,000 a month, was completed in late 2019.
A construction schedule for the latest Optima project in Scottsdale has not yet been announced.
By Garry Boulard
