Real estate development firm Optima and joint venture partner Principal Real Estate Investors recently announced a new luxury apartment tower, 7140 Optima Kierland, is coming soon to Optima Kierland Center in north Scottsdale.

The apartment tower 7140 Optima Kierland is the second within Optima Kierland Apartments, the rental community at Optima Kierland Center. The development also has two condominium towers. Construction on the 12-story tower is underway with the building topped off, windows in and power on. First move-ins are slated for August, according to a press release.

Registration is open for the VIP Waitlist, which is set to launch in mid-June. Optima will offer both in-person appointments as well as virtual leasing opportunities, allowing prospective residents to secure an apartment in the new tower.

The first apartment tower, 7160 Optima Kierland, had 134 move-ins occurring within its first three months of opening in May of 2017. The community has remained over 95% occupied since opening.

“With the demand we saw at 7160 Optima Kierland, we believe there is a larger market looking for the design and lifestyle we offer at Optima Kierland Center,” David Hovey Jr., president and principal architect of Optima, said in a prepared statement.

“We look forward to offering the community another chance to live at Optima Kierland, featuring a distinct combination of space, style and design.”

The tower 7140 Optima Kierland will have 213 one-, two- and three-bedroom homes priced from $2,160, ranging from approximately 737-2,225 square feet.

Residents can select two different finish packages, each featuring luxury plank flooring throughout, solar shades, floor-to-ceiling glass walls and abundant natural light. Each home also will include an expansive outdoor terrace designed for indoor-and-outdoor living.

Residents can access to Optimized Service, an in-home concierge program which Optima’s on-site team provides, offering complimentary services within each resident’s home, available all week.

These services include dry cleaning pickup and delivery straight to the closet, in-home plant watering and package delivery inside the home within 24 hours of being delivered to the community.

Residents can also have a virtual concierge service that provides assistance with booking reservations, appointments, coordinating travel and other similar tasks, as well as all the conveniences provided by the latest in smart home technology, automating several of their home features.

The tower also boasts its own set of private amenities exclusive to residents, including a rooftop Skydeck that features a rooftop pool, lounge and running track, an outdoor spa complete with a steam room, sauna and hydrotherapy, a fitness center and a cool plunge and hot spa.

Additional amenities include a full-court indoor basketball court, co-working spaces, a dog park and pet spa, an electronic gaming room and a golf simulator, outdoor spaces with barbeques and fire pits, event and party spaces with retractable glass walls, an outdoor bar, lounge and kitchen and an indoor theatre and game room.

“Principal Real Estate Investors is proud to be involved with the Optima Kierland Apartments as the joint venture partner on the second tower of the development,” Kevin Anderegg, managing director of Principal Real Estate Investors, said in a prepared statement.

“We saw great success with the 7160 Optima Kierland tower and believe there is increased demand for highly amenitized, urban living in The Valley. We look forward to its continued success.”

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Optima has officially opened 7190 Optima Kierland, a 216-unit multifamily community in Scottsdale, Ariz. The property is the fifth and final tower within the Optima Kierland project, a master-planned residential development.

The project received a $83.5 million construction loan from PNC Bank in 2021, according to Yardi Matrix data.

The 10-story building incorporates studios, one-, two- and three-bedroom floorplans ranging between 626 and 1,145 square feet. Common-area amenities at the master-planned community include a swimming pool, a business center, a theater, a fitness center, a yoga studio, a rooftop deck, a spa, a basketball court, a pickleball court, a running track, a golf simulator, lounge seatings and fire pits. The property also features smart home technology, package delivery, 24/7 concierge, grocery delivery, controlled access and approximately 447 parking spaces.

Located in Phoenix’s Paradise Valley Village submarket, the property is within walking distance of an abundance of dining options, retail centers and entertainment venues. The list includes the Kierland Commons and Scottsdale Quarter shopping centers, which are just across the street.

Optima plans to break ground later this year on another massive North Scottsdale project, the Optima McDowell Mountain Village. The $1 billion project is slated to encompass six eight-story buildings with approximately 1,300 residential units and 36,000 square feet of commercial space.

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Optima, and JV partner, Principal Real Estate Investors, are nearing completion of 7140 Optima Kierland, a luxury apartment development at Optima Kierland Center in Scottsdale. The 12-story, 213-unit tower is the second apartment at the project.

7140 Optima Kierland will be comprised of one, two and three-bedroom homes. The developer expects initial move-ins to occur in August and is accepting reservations, both in-person as well as virtual leasing appointments.

The first apartment tower, 7160 Optima Kierland, remains 95% occupied and achieved the fastest leasing rate ever in the Valley with 134 move-ins occurring within its first three months of opening in May 2017.

Optima’s David Hovey Jr. says, “With the demand we saw at 7160 Optima Kierland, we believe there is a larger market looking for the design and lifestyle we offer at Optima Kierland Center. We look forward to offering the community another chance to live at Optima Kierland, featuring a distinct combination of space, style and design.”

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On the heels of opening the project’s latest swanky condo tower in July, the Scottsdale developer has just opened an adjacent luxury apartment tower, with some families already moving in. The firm also has locations picked out for two more towers.

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People shopping for new, more spacious single-family houses where they can hunker down during the pandemic may be overlooking places that meet most, if not all, of their needs: town houses and condominiums. The newest breed of town houses and apartments check all the boxes for riding out the virus — and beyond. Indeed, many seem to be designed especially for the pandemic, but often at a more affordable price and in a more walkable location than detached houses in the far-out suburbs.

Yes, these attached homes normally are somewhat smaller than their stand-alone brethren. But today’s plans often include dedicated home offices, separate spaces for home-schooling, and dual master suites — handy for extended families, or if someone must be quarantined.

Some have kitchens with expansive islands for cooking, crafting and gathering, and walk-in pantries for stocking up on essentials. Some even come with finished basements for whatever the need may be — lounges, bonus rooms or play areas for the little ones — and private, fenced-in backyards for safe outdoor activities.

No longer a basic two-bedroom, two-bath cube, some condominiums are evolving, too. Some now even offer multiple floors. Let’s look again at Chicago, where the CA6 West Loop project by the Belgravia Group offers four-bedroom duplexes. These two-story units feature dedicated office spaces, flex rooms to accommodate multiple uses, and outsized 700-square-foot private terraces that can hold a trampoline or an inflatable pool.

These units range in size from 3,100 to 3,157 square feet with four bedrooms, 3.5 baths and a backyard. But starting at $1.65 million, the prices here are not for the typical buyer.

Prices are somewhat more modest at 7180 Optima Kierland, a new 12-story tower in Scottsdale, Arizona: The tower’s one-, two- and three-bedroom apartments, as well as penthouses, start at $500,000 and run up to more than $2 million. The median resale price in the Phoenix area was $315,000 in July.

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Housing developments are reaching new heights, yet not exactly in the literal sense. Driven by creativity, ingenuity and a passion for nature, Optima, Inc. is pushing the limits of innovation in the architectural design industry with their one-of-a-kind environmental living spaces.

Founded by David Hovey Sr. and his wife Eileen Hovey in 1978, what began as a collegiate business model quickly morphed into a continually evolving company that has now constructed 45 developments across its Illinois and Arizona markets.

“We aim to bring a visionary and enduring approach to each one of our communities and design each development to be customized to its location,” says Hovey Jr., CEO of Optima Inc. “With our design-driven lens, we believe that beautiful and innovative spaces create a sophisticated living experience.”

During his time at the Illinois Institute of Technology, Hovey Sr. envisioned a modular housing system that connected the natural environment with a man-made environment. Under the guidance of his mentor and professor Arthur Takeuchi, the two perfected an architectural design that integrates sustainable living with biophilia.

Expanding into the Arizona market in 2000 created bountiful opportunities for the future of Optima, Inc. Explosive job growth, warm weather, population density and striking natural surroundings enticed David and Eileen Hovey to make their move into the Sonoran Desert, where their transformative buildings would thrive.

To most, the desert climate may seem like a bigger challenge, yet that’s precisely what Optima, Inc. is seeking. With a collaborative, communicative and visionary team, the company aims to take risks and encourage fresh, new ideas that advance modern living.

“As part of a common purpose, our team recognizes the power of sharing knowledge across our team and gives us all the satisfaction of achieving success together,” Hovey Jr. says.

Equipped with a reliable and resilient team of experienced individuals, Optima, Inc. is on an upward climb that seems unstoppable. Within the Arizona market alone, the company has erected property sites across Phoenix, Biltmore, Old Town Scottsdale, Kierland, North Scottsdale, Mesa and Tempe, including the most recent luxury green-building design, 7180 Optima Kierland.

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