Optima has announced the opening of the luxury apartment tower 7140 Optima Kierland in north Scottsdale, with immediate move-ins available and the leasing gallery and model residences accessible for private tours.
As the second apartment tower located within Optima Kierland Apartments, 7140 Optima Kierland has already achieved 40% leased, which outpaces the rental market by nearly double, according to a press release.
Comprised of 213 one-, two-, three-bedroom and penthouse residences ranging in size from 737 to 2,225 square feet, monthly rents start from $2,220. The first apartment tower, 7160 Optima Kierland, achieved the fastest leasing rate ever in the Valley in its debut in 2017 and has maintained 95 percent occupancy ever since, the press release stated.
“There is a major trend at play with renters looking to downsize from their single-family homes in favor of the luxury and convenience of the Optima lifestyle, many of whom have relocated from out of state or are considering doing so,” said David Hovey Jr., AIA, president and principal architect of Optima.
“With the debut of 7140 Optima Kierland, we’re excited to be able to offer prospective residents a chance to enjoy the community’s unmatched location, services and amenities, and to be able to meet the demand for large, well-appointed apartment homes in the Valley.”
The leasing gallery is open for in-person or virtual tours. Optima is taking necessary precautions to ensure proper health and safety standards are being maintained in the building’s common areas and models.
Four penthouses in the nearly sold-out 7180 Optima Kierland in north Scottsdale are now on the market. The luxury homes are priced from $1.349 to $1.445 million and offer amazing views of the McDowell Mountains through wall-to-ceiling glass walls. Included in the sale is access to some amazing amenities including a rooftop running track, heated lap pool, outdoor bar and fitness center. Two of the penthouses are available right now for tours.
Pickleball, a mashup of tennis, badminton and ping-pong, is trending, and luxury real estate developers are racing to keep up.
About 4.8 million people play, according to USA Pickleball, the sport’s governing body. The game can range from a social activity to play with children to a fast-paced, competitive match.
“Everyone calls pickleball the great equalizer,” said Matt Nixon, the chief marketing officer at Southworth Development. “You could be 10 years old, 12 years old, playing with anyone of any age.” He said that for the Abaco Club, a development owned by Southworth in The Bahamas, the recreational activity serves as a key channel for building community around health, wellness and the enjoyment of the sport.
For some buyers downsizing from country club neighborhoods, pickleball is already a daily hobby. They’re drawn to onsite courts because it affords a sense of community close to home.
“Buyers are definitely asking about pickleball,” said Wendy Pines, the sales director for the Casamar Residences, starting at $1.5 million, in Pompano Beach, Florida. “They’re excited we’re going to have it on the property and it appeals to people of all ages. It’s become a popular social activity where people can come together and congregate. A lot of people play doubles, like in tennis. You always have people waiting to jump into the game. It’s become that popular.”
Since pickleball appeals to all ages, many kinds of properties can benefit from offering courts as a part of their amenity packages. Far from stripped-down public park facilities, pickleball courts are popping up in luxury developments from coast to coast with thoughtful touches including plush seating and branded equipment.
“Whether it’s a retirement community, a housing development that’s master planned with a variety of product types for different ages and demographics or a private club, you name it, they’re adding pickle[ball],” said Mary Cook, a Chicago-based designer specializing in multi-family developments and amenity facilities.
The Case for New Pickleball Courts
Requiring little more than a badminton-size court, a 34-inch net, paddles and a perforated plastic ball, pickleball is easier to accommodate than other popular amenities, such as golf courses, swimming pools or bowling alleys. Developers are pulling out all the stops, often pairing the recreational activity with cocktail bars and other socially minded additions.
In Miami, the Standard Residences opted to design an indoor court that can be converted into a party room. Giant disco balls will spin from the ceiling, while spectators and players can don branded apparel and paddles styled after the Wes Anderson film “The Royal Tenenbaums.” The building, with pieds-a-terre offered in the mid $700,000s, is expected to be completed in 2023.
“We were thinking about what type of sport we could put in the building without affecting the people there. If you put in paddle[ball] or bowling, it can get too noisy and that becomes an issue,” said Carlos Rosso, the CEO of Rosso Development, the company behind the Standard Residences. “We have a karaoke bar that bleeds into the pickleball court area, so that whole scene will be a very cool way of activating the building.”
In The Bahamas, the Abaco Club transformed an underutilized area into pickleball courts and a basketball half-court. The bright blue courts are along a quiet, palm tree-lined road a stone’s throw from the beach. Lights illuminate the courts for evening matches. Cottages on the Caribbean property are priced up to $3 million and villas are expected to be priced up to $12 million.
“It’s opened up the whole area and changed the dynamic,” said Matt Young, the Abaco Club’s director of outdoor pursuits. “Plans are underway to build an outlet of sorts, with a coffee stand in the mornings where people can sit and watch pickleball or have a cup of coffee in between games.”
In the evenings, players and spectators will be able to grab a beer or cocktail while enjoying a game.
Making Use of Existing Tennis and Basketball Courts
Before installing dedicated courts, luxury developers can try out pickleball at their facilities for a negligible price. They can add lines to existing tennis and basketball courts and roll out temporary nets.
The Abaco Club gauged residents’ interest in the game by adding stripes to its tennis court before committing to the smaller-sized courts. The residential developer Optima Inc., which owns properties in Scottsdale, Arizona and Chicago, did the same by painting stripes on indoor basketball courts.
The Abaco Club
“The requirements are similar to those of an indoor basketball court, so it’s been an easy addition. The most important thing to consider in planning a pickleball court is space and creating the striping overlay on the existing court in a way that’s cohesive,” said David Hovey Jr. , AIA, president, COO and principal architect of Optima, Inc.
To meet demand, they’ve planned an outdoor pickleball stadium at their forthcoming luxury apartment tower, 7190 Optima Kierland. The 216-unit tower is slated to open in 2023 in Scottsdale, with prices ranging from $1.75 million to $3.25 million. “We’re excited to build resident programming around this newest feature, possibly hosting a tournament,” Mr. Hovey said.
As the sun-soaked capital of Arizona, Phoenix isn’t just a bustling metropolis in its own right. It’s also surrounded by a ton of stellar suburbs, each offering its own unique flavor and charm. Keep reading to learn more about the Top 10 suburbs in Metro Phoenix.
From luxury enclaves to tech hubs to serene family-friendly neighborhoods, the Phoenix suburbs described below provide great options for every lifestyle. This article dives into the crème de la crème of the Phoenix suburb scene, providing insights into what makes each spot stand out in the heart of the Southwest.
In the picturesque landscape of Phoenix suburbs, Scottsdale stands out as an oasis of luxury, art and outdoor activities. With world-class golf courses that would make any link lover’s heart race, upscale shopping districts that can satiate even the most discerning shopper and restaurants that range from gourmet to eclectic, Scottsdale is the epitome of suburban elegance.
But it’s not all about the glitz and glam. This Phoenix suburb supports an array of outdoor activities, from the scenic trails of McDowell Sonoran Preserve to horseback riding under the vast Arizona sky. Dive into Scottsdale and discover what makes this Phoenix suburb a crown jewel of the Southwest.
What sets Chandler apart in the lineup of Phoenix suburbs is its commitment to balancing urban sophistication with hometown warmth. From high-end shopping centers to local farmers markets and from cutting-edge theaters to the annual Ostrich Festival, this Phoenix suburb ensures residents never have a dull moment.
Population: 279,458
Average age: 36.7
Median household income: $91,299
Average commute time: 24.9 minutes
Walk score: 35
One-bedroom average rent: $1,785
Two-bedroom average rent: $2,000
Among the constellation of Phoenix suburbs, Chandler shines brightly with its unique blend of tech-driven progress and laid-back Southwestern charm. As the hub of the Silicon Desert, Chandler boasts a growing technology industry, attracting innovators and professionals eager to make their mark.
Once known as the “Hay Shipping Capital of the World,” Gilbert has grown exponentially, trading hay bales for innovative businesses and growing communities. Gilbert is a shining example of how a city can expand without losing its historic charm.
Optima, a developer based in the dry climate of Arizona no less, has come up with a vertical planting system that has self-contained irrigation and drainage so plants can grow up and over the side of the building. This provides a natural shading system while also creating cleaner air and decreasing the excessive temperatures so common to Arizona. Vertical gardens are one part of their overall greening initiative which aims to be carbon neutral by 2030.
The Valley’s hottest high-rise is now open in Scottsdale. Towering 12 stories, 7180 Optima Kierland has an eye on green living, award-winning design, endless amenities for owners and Arizona’s first rooftop running track.
North Scottsdale recently opened 7180 Optima Kierland, a 12-story residential tower, boasting the next level of Optima’s award-winning design from David Hovey, Jr., AIA, president and principal architect of Optima. Sales remained strong through the pandemic; as of press time, the tower is 75 percent sold out.
7180 Optima Kierland comprises one-, two- and three-bedroom homes, plus a collection of premium penthouses at the highest floor. Though four models are available to tour, there are a variety of options for custom and combined floorplans. Listening to its residents in it other Valley towers, the Optima team used the input to create the perfect setting for any buyer. Regardless of floorplan, the residences exemplify Optima’s clean, contemporary aesthetic with Italian custom cabinets, Kohler faucets and fixtures, Bosch appliances and floor-to-ceiling window walls. And Optima’s signature terraces are complemented by a next-generation vertical landscape system.
7180 Optima Kierland This 12-story residential tower, which opened in the Optima Kierland Center in August, brings environmentally friendly condos to North Scottsdale. Surrounded by a 5-acre park and featuring a rooftop running track, heated skydeck lap pool, gym and game room, it brings new meaning to luxury. optima-kierland.com
Four luxury penthouses were recently unveiled at the nearly sold out 7180 Optima Kierland in north Scottsdale with two penthouses available for private tours starting this week.
Among the most impressive high-rise residences in Arizona, priced from $1.349 to $1.445 million, according to a press release, the penthouses are part of The Mountain Collection, which is a limited selection of penthouses with views of the McDowell Mountains, featuring floor-to-ceiling glass walls, and an “ultimate indoor-and-outdoor living experience.”
“We’ve truly saved the best for last as we debut these very special penthouses that grace the top floors of 7180 Optima Kierland and serve as a capstone to the most elevated building that we’ve ever created here in Arizona,” said David Hovey Jr., president, COO and principal architect of Optima, in a prepared statement. “This exclusive, highly curated collection of residences embodies our collective vision for what refined, high-design living is all about.”
Each penthouse features a private terrace adorned with hanging greenery – a signature of Optima’s award-winning design aesthetic – and upgraded finishes including European Oak wood flooring and Gieffe Cucine cabinetry, polished granite countertops, tiled terraces, upgraded lighting, 10-foot ceilings and appliances from high-end brands Bosch and Elicia.
Since sales began in January 2019, the release said Optima has consistently outpaced the Arizona condominium market. This month, 7180 Optima Kierland is selling nearly five times faster compared to other new condominium developments across the Valley, according to a May 2021 market study by Polaris Pacific.
In addition to The Mountain Collection, 7180 Optima Kierland has limited two-bedroom residences available for sale and priced from $999,000. World-class amenities also include a rooftop Skydeck with a residential rooftop running track, a heated lap pool, a full outdoor bar and kitchen.
From Founder and President Rebekah Morris down through the entire Research, Editorial and Support staff, the crew at BEX Companies proudly self-identifies as “Data Geeks”. The annual Construction Activity Forecast Event is our time to shine and show off the extreme (some might even say excessive) volume of data we’ve put together over the year and compare it to the previous year’s output and result.
For our 2023 event(s), 365 attendees registered to drink from the data firehose and soak up as much information as they could in a whirlwind two-hour presentation by Morris and DATABEX Manager Lya Parrish. For the first time, demand was so heavy the event had to be presented twice to accommodate everyone who wanted to come.
Following brief introductory remarks from Parrish explaining how data for the 11 covered markets is collected and analyzed, it was off to the races with Morris’ now-familiar overview of the state of the overall Arizona construction market, its impacts and what has changed over the last 12 months.
State of the Market
Morris started her annual summary noting the three major factors impacting construction in the state—Population Growth, Employment, and Inflation and Interest Rates—the last of which she noted had not been a major factor until 2022.
Population growth has been a primary factor in Arizona since the end of the Great Recession, trending generally upward over the past 10 years and hovering around 1.5% annually.
That has, of course, fueled demand across the range of construction markets. Ironically, what it has not done is return construction employment to its pre-Recession levels. At its peak in 2006, Arizona construction employment was 240,300 jobs. That plummeted in the recession down to 110,900. Even with the exceptional boom in project counts and valuations, however, by 2022 construction employment had only rebounded to 186,700.
Even with a workforce that’s 22.3% below its former peak, however, 2022 construction activity totaled $22.4B, a 24% year-over-year increase and a $730M increase over the 2006 past peak.
On the inflation side, a combination of supply issues and cost increases held market growth back in 2021, Morris said. “Construction was constrained in Arizona. We couldn’t get materials, couldn’t get labor. There were, and there are still, some significant permitting delays. We did not grow the industry, but we certainly grew our Producer Price Index, that inflation number,” which hit 10%. The PPI for 2022 came down to approximately 6.7%.
Construction activity, however, grew by 24%. “I don’t have a precise answer on, ‘How much did inflation grow versus how much did the market grow?’ What we know is that we grew jobs. We’ve got specific counts by market sector. We have very specific project-level detail. We can tell the overall market grew much more than inflation.”
After going over the general numbers, Morris put the data into context across construction markets. She reported that in 2019, the cost/SF for a small office renovation was between $50 and $100. In 2022, that had risen to $150-$250. For new mid-sized apartment complexes, the cost/SF was $150-$175/SF. In 2022 the average was between $220-$275.
The researchers and the audience were fortunate enough to have an apples-to-apples comparison for high-end multifamily. In 2020, the Optima Kierland luxury apartment development was announced with a per-unit cost estimate of $632K. For the Optima McDowell Mountain Village project announced in 2022, the per-unit development cost had risen to $751K.
Nearing the end of her introductory segment, Morris talked about how, not very many years ago, the market share breakdown between Housing, Public and Private projects was generally one-third to one-third to one-third. Showing a seismic shift in demand volumes, Housing currently stands at 27.2%, Public at 20.4% and Private at a whopping 52.4%.
Capital Improvement Programs
Morris next launched into coverage of projects and trends in Capital Improvement Programs and the Public sector, which for research purposes consist of Education, Public Spaces, Utilities and Transportation.
Of the Top 10 Capital Improvement Programs analyzed this year, only two—Valley Metro and Mesa—showed decreases. Phoenix led with $9.778B, followed by the Arizona Department of Transportation at $6.752B.
Bringing up the rear at Number 10 was the Town of Queen Creek, which saw its CIP explode with a 232.1% increase to reach $972.3M.
Located on Chicago’s North Shore, the Optima Verdana apartment community has rooftop bocce ball courts. Permission granted by Optima Inc.
As the Fourth of July holiday nears and temperatures soar across the country, apartment residents look for opportunities to stay cool while enjoying the outdoors.
To meet this demand, designers, owners and operators are expanding the possibilities of the exterior. These include making improvements to staples like the pool and lounge area, adding unique attractions, bringing traditionally indoor amenities outside or creating indoor-outdoor spaces that residents can enjoy year-round.
One major design choice facing properties that choose to incorporate a pool is where to put it — with the most common choices being in a central courtyard or on a rooftop deck.
Designed by HLW, the Beach apartments from Newport Rentals in Jersey City, New Jersey, offer an extensive waterfront green space with multiple seating areas and landscaping.
Permission granted by HLW
“When designing an outdoor pool, a developer needs to consider the accessibility of the pool, what the view will be and the ambiance of the site,” Diana Pittro, executive vice president at Chicago-based RMK Management Corp., told Multifamily Dive
Edward Stand, principal and director of quality management at New York City-based design firm HLW, notes that a property’s pool placement can depend on the demographics of its tenants and the intended purpose of the pool.
“If an owner is angling for families, amenities will be tailored toward children,” Stand said. “If the building is 20-plus stories high, parents might not want their children throwing a beach ball around on the roof.”
Fun and games
Active programming that promotes social interaction through entertainment and gaming options — such as bocce, cornhole, volleyball and movie nights on a lawn or rooftop space — continue to be very popular during the summertime, according to Mary Cook, founder and president of Chicago-based design firm Mary Cook Associates.
Outdoor amenities at Optima Kierland in Scottsdale, Arizona, include a rooftop running track.
Permission granted by Optima Inc.
Those activities could be paired with opportunities to kick back and relax. For instance, an upcoming $100 million apartment complex on Purdue University’s Fort Wayne, Indiana, campus, developed in a public-private partnership with Providence, Rhode Island-based builder and developer Gilbane, is set to start construction in October and open by June 2026. In addition to green spaces, grilling stations, fire pits and sand volleyball and basketball courts, the property’s 600 future residents will also have access to a “hammock farm” for outdoor relaxation.
For serious workouts, one of the most popular new amenity moves is the extension of the indoor fitness center into an outdoor space, often taking the form of a multipurpose lawn specifically for exercise. “We’re seeing fitness centers with dedicated outdoor space — gym equipment and turf areas on covered outdoor terraces,” Alan Barker, principal and residential market leader at Chicago-based design firm Lamar Johnson Collaborative, told Multifamily Dive.
