Optima recently announced that 7220 – the first apartment tower of six within Optima McDowell Mountain community in North Scottsdale – is now pre-leasing with first resident move-ins scheduled for September. The eight-story apartment tower will feature 210 rental residences ranging from approximately 714 to over 2,100 square feet, with monthly rates from $2,900 to $10,000. Floor plans span from studios to three bedrooms. Each residence reflects Optima’s signature approach to bio­philic design, with floor-to-ceiling windows, 9- and 1 0-foot ceilings and private terraces wrapped in lush native plants. Full-service hospitality, including front door staff, dry cleaning drop-off and delivery, in-home package delivery and an on-demand app for residents to schedule everything from house­keeping to massages is available, as is a personal assistant to coordinate everything from travel to cooking classes via phone. The rooftop Sky Deck is complete with a heated Olympic-length pool, a spa, a cold plunge, yoga studios, outdoor kitchens, fire pits, TV lounges and a running track. Ground­ level amenities include a fitness center, indoor/outdoor pickleball courts, indoor basketball, a golf simu­lator, a movie theater, children’s play areas, a chef’s kitchen-equipped party room, a pet spa and more. More info, www.optimamcdowellmountain.com.

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Key takeaways

• A six-tower, 1,300-plus-unit residential complex in Scottsdale is opening in phases, with the initial building already open.
• Around 40% of condos in the second tower have been sold, as leasing continues in the first building.
• The more than 20-acre development includes 14 acres of open space, rooftop amenities, and a system designed to capture rainwater to repurpose for irrigation.

David Hovey Jr., president of developer Optima Inc., thinks his firm got ahead of the development boom taking hold in north Scottsdale and Phoenix.

The firm’s latest and largest project to date in Arizona, Optima McDowell Mountain, is located just off the Loop 101 freeway in Scottsdale — right in the heart of new activity from mixed-use developers, homebuilders, medical campuses and corporate relocations.

Optima McDowell Mountain is opening in phases, both to renters and condominium buyers, and has space for 1,330 residential units. The first of six, eight-story towers opened in 2025, while work and sales are well underway on the second tower, which will be for-sale condos.

Already, nearly 40% of the condos in the second building have been sold ahead of the first move-ins expected in May 2027, while about 65% of the rental units have been claimed.

These buildings can turn heads among pedestrians and drivers alike with their colorful exteriors. Optima McDowell Mountain can be spotted from the Loop 101 with its lush green landscaping.

Hovey Jr., who is also the principal architect of Optima, told Homes.com News that the resident pool at their communities is a mix of empty nesters, grandparents, downsizers, and professionals.

Hovey Jr. expects more professionals working nearby to make their way to Optima McDowell Mountain as more of it is developed.

Republic Services, Axon, ASM America, Sprouts, and even the Arizona Cardinals are among the users planning to establish or expand a corporate presence in the area along Loop 101.

“We’re getting people from our neighbors who are interested,” Hovey Jr. said.

Rental units range from 714 to over 2,100 square feet with monthly rates from $2,500 to over $10,000. The condos are planned for 727 to 3,237 square feet across one-, two-, and three-bedroom floor plans. Buyers can further customize their plans and combine units to create larger residences.

Each unit comes with a private terrace.

A search on Homes.com shows Optima’s condos are selling for just under $700,000 for a one-bedroom, one-bathroom unit and up to a three-bedroom, three-and-a-half-bathroom unit for $3.3 million.

Hovey Jr. expects the third building, which will be for-rent units, to break ground later in 2026. Optima will determine whether the remaining three towers will be for-rent or for-sale units.

When fully built, these six buildings will be on more than 20 acres in the Desert View neighborhood. Anchoring the development is a central courtyard with seating areas and fire pits; the complex will also have 14 acres of open space.

Hovey Jr. said Optima McDowell Mountain also offers the deepest amenity package among its Arizona communities, led by rooftop, Olympic-sized swimming pools in each building. Additionally, residents can access saunas, cold plunges and fitness centers. Retail stores are also in the works.

The community also has underground parking and a rainwater harvesting system that captures and stores approximately 210,000 gallons of rainwater in an underground concrete vault. That rainwater will be repurposed for irrigation in the community’s landscaping.

Optima designed the buildings and is developing and overseeing the construction of its projects. The company has built other Optima-branded communities in Arizona and in its home state of Illinois, according to its website.

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SCOTTSDALE, ARIZ. — Chicago-based Optima has purchased a 22-acre development site on the southeast corner of Scottsdale Road and Loop 101 Freeway in Scottsdale for the development of Optima McDowell Mountain Village, a $1 billion residential project that recently received city approval. John Lund sold the land parcel for $44.7 million.

The community will consist of six eight-story buildings totaling 1,330 residential units, as well as 36,000 square feet of commercial space. Four of the buildings will be rental apartments and two buildings will offer for-sale condominiums. The unit mix will include studios, one-, two- and three-bedroom layouts ranging from 775 square feet to 2,025 square feet.

Each of the six buildings will offer a rooftop deck with a 50-meter, Olympic-length swimming pool, sauna, spa, cold plunge, running track, outdoor fireplaces, lounge seating, and outdoor kitchens with barbecues and dining spaces. Additionally, each building will feature lobbies, a fitness center, yoga studio, sauna, steam room, residents’ club with game room and theater, an indoor basketball and pickleball court, an outdoor pickleball arena, a golf simulator, an outdoor putting/chipping area, indoor and outdoor kids’ play spaces, a massage room, a dog park and pet spa, business center, and conference room.

Parking at Optima McDowell Mountain Village will be 100 percent underground and a new roundabout will be constructed on Mayo Boulevard to help control traffic. Architects David C. Hovey and David Hovey Jr. designed the project.

Don Arones of Cushman & Wakefield’s Phoenix office represented the buyer, while Marty De Rito of De Rito Partners represented the seller in the deal.

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Colliers in Arizona has released the annual Greater Scottsdale Airpark 2030 Report, indicating healthy conditions within the growing submarket.

According to the report, demand for commercial space in the area is exceeding supply and development of new space is being handled at a healthy pace.

“Many are speculating a future recession, but we are not overly concerned about that for the Scottsdale Airpark,” said Jim Keeley, SIOR, CCIM and founding partner of the Colliers Scottsdale office.

“When the last recession hit in 2008, this submarket was dramatically overbuilt. Since 2018, the Scottsdale Airpark market has been in a state of equilibrium with supply and demand in balance,” Keeley added.

“Current conditions indicate remarkable economic health in the area with demand outpacing the supply of space in most every product type.”

The Scottsdale Airpark 2030 Report is created each year by Colliers in Arizona to educate the market about conditions in the submarket.

At the end of 2022, the Airpark boasted approximately 3,326 resident companies with 64,130 employees. The submarket contains an inventory of approximately 47.3 million square feet of buildings.

Property technology companies are a growing category of tenants. These firms are helping individual companies research, buy, sell and manage real estate as occupancy changed post-COVID-19.

These firms are designing space to embody more of a “community hub” that encourages employee collaboration with various engaging areas within the suite.

The Scottsdale Airpark area has experienced an increase in housing units, as developers look to provide residences to the growing workforce in the area.

Kierland’s Ladlow’s Fine Furniture Store location is planned to become high-end apartments. The 330-unit ALTA Raintree Apartments opened in 2022 and the 192-unit TC Raintree project is under construction.

Other key changes in the Scottsdale Airpark submarket include the sale of CrackerJax (now named The Parque). Tech billionaire George Kurtz purchased the property in April 2022 and plans to build a legacy project on the site.

Additionally, DraftKings Sportsbook broke ground in 2022 at the southeast corner of Greenway Hayden Loop and Bell Road, across from the clubhouse of TPC Scottsdale. This 12,000-square-foot facility will offer premier gaming.

The area experienced the completion of historic factors in the Scottsdale Airpark during 2022. The Herberger family, who began purchasing land in the area in the late 1950s, sold CrackerJax in 2022, which ended their era of land development in the submarket.

Judd Herberger’s death in 2021, following the city’s loss of his other family members involved in the market, signaled an end of the Herbergers’ contributions to commercial real estate growth.

They will forever be remembered as dedicated, philanthropic heroes of our community, Keeley said.

Last year also completed Doug Ducey’s time as Arizona’s governor.

Under his leadership, the Arizona State Land Department (ASLD) began selling “fee simple” land in and around Scottsdale Airpark.

This brought development opportunities that were difficult to obtain. This new policy led to such developments as Cavasson and the Nationwide project.

In November 2022, the northeast corner of Hayden and Loop 101 was auctioned, with HonorHeath prevailing. The southeast corner of that intersection was purchased by Axon more than a year ago and will be the site of its new corporate headquarters.

The southwest corner was purchased in April 2022 by VanTuyl/DeRito Group for future development. Additionally, Mack Companies bought 124 acres at the northeast corner of Loop 101 and Bell Road for $125 million in March 2022.

The Scottsdale Airpark will continue experiencing dynamic changes as it moves forward. Projects planned include $29 million in renovations to the Kierland Office Park; and the $1 billion Optima McDowell Mountain Village at Loop 101 and Scottsdale Road. Its six buildings will include luxury residences, retail and commercial space.

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Optima, an internationally acclaimed architecture and real estate development firm, announced today the launch of sales for the first luxury condominium tower at Optima McDowell Mountain—a $1 billion, design-forward community in North Scottsdale that has already secured close to $27 million in early reservations ahead of its public release.

Optima McDowell Mountain represents the latest evolution of architectural design, sustainability initiatives and a lifestyle-forward amenity experience. The debut condominium tower, 7230, will feature 196 thoughtfully designed residences ranging from 728 to 2,204 square feet, with one-, two- and three-bedroom floorplans, showcasing signature elements such as floor-to-ceiling glass, lushly landscaped private terraces, designer kitchens and integrated smart-home technology. Prices are estimated to start in the $600,000s for one-bedrooms, the $900,000s for two-bedrooms and the $1.4 million range for three-bedrooms.

Buyers can also customize their homes, with options to combine units and personalize layouts and finishes. Already, more than 60% of early reservations are for custom combination homes, where individuals purchase two to three units to create expansive, bespoke residences, underscoring the appetite for highly tailored living at Optima McDowell Mountain.

Located on a 22-acre site at the southeast corner of Scottsdale Road and Loop 101, Optima McDowell Mountain will include six eight-story towers, home to a mix of condominiums, apartments and 36,000 square feet of retail and restaurant space. The development is designed to live in harmony with its surroundings.

“This is a significant milestone for Optima,” said David Hovey Jr., AIA, president of Optima. “It’s the first time in four years we’ve introduced for-sale residences in Arizona, and we’re bringing everything we’ve learned over the past four decades into this new community. Optima McDowell Mountain reflects our ongoing commitment to thoughtful design and quality living, and it represents the next chapter in our legacy.”

Setting a new benchmark for luxury living, each residential building will be anchored by approximately 1.5 acres of resort-caliber amenities. At the rooftop level of 7230, a dramatic Sky Deck unfolds with panoramic McDowell Mountain views, an Olympic-length heated lap pool, a perimeter running track, outdoor spa, cold plunge, sauna, firepits, lounge areas, outdoor kitchens, indoor and outdoor yoga studios and entertainment zones with TVs, shaded arbors and lush foliage. Ground-level amenities will include a state-of-the-art fitness center with indoor and outdoor training areas; Pilates studio, group fitness space and locker rooms; sauna, massage room and spa lounge; indoor pickleball/basketball court; two outdoor pickleball courts and bocce court; indoor golf simulator, sports lounge and outdoor chipping and putting area; business center with conference and huddle rooms; movie theater and a chef’s kitchen-equipped party room; indoor and outdoor children’s play areas; pet park and pet spa; and outdoor lounge with a spa and cold plunge.

With approximately 16 acres dedicated to open space, representing nearly 75% of the property, Optima McDowell Mountain is designed to feel like an oasis—vibrant, walkable and deeply connected to the natural landscape. A 10-acre central park serves as the heart of the community, surrounded by pedestrian paths and biking trails that link to Scottsdale’s trail systems and Bicycle Master Plan. Residents will enjoy the tranquility of the desert while staying connected to North Scottsdale’s premier dining, entertainment and shopping destinations just minutes away.

Optima McDowell Mountain also pioneers an innovative model for environmentally conscious development. The community will feature the largest private rainwater harvesting system in the U.S., designed to reduce overall water use, with an underground vault that can store up to 210,000 gallons of rainwater for on-site irrigation. The project is also the first in Scottsdale to be built under the newly adopted International Energy Conservation Code (IECC) and International Green Construction Code (IgCC).

Other sustainability features include solar panels, self-irrigating vertical landscaping for natural insulation and air purification, 100% underground parking to reduce surface heat retention, high-efficiency VRF heating/cooling systems, induction cooktops in the residences and EV charging in the parking garage for both residents and guests.

The Optima McDowell Mountain Sales Gallery is now open by appointment only, inviting prospective buyers to experience firsthand the innovative architecture, sophisticated design and exceptional lifestyle that define this premier community. With residences in the first condominium tower now selling, completion is anticipated in summer 2027. For more information and to schedule a private appointment, visit OptimaMcDowellMountain.com.

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It was common for candidates and residents alike to claim there were over 15,000 apartments in the infamous “pipeline” earmarked for Scottsdale prior to the November 2024 election.

Various numbers from an array of time periods were bandied about to prove or disprove whatever point was being made at the time.

A new report from Scottsdale City Manager Greg Canton states there aren’t near as many apartments in the pipeline as people have claimed.

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Cushman & Wakefield announced the firm has advised Optima in the acquisition of a 22-acre development site on the southeast corner of Scottsdale Road and the Loop 101 freeway in Scottsdale.

Chicago-based Optima is constructing a new luxury mixed-use residential project named Optima McDowell Mountain Village on the northern Scottsdale site, according to a press release. The project will consist of six 8-story buildings totaling approximately 1,330 residential units plus 36,000 square feet of commercial space plus top amenities.

Four of the buildings will be rental apartments and the other two are for-sale condominiums. The unit mix will consist of studios, one-bedroom, two-bedroom and three-bedroom units that range from 775 to 2,025 square feet.

Optima acquired the land from John Lund for $44.75 million. The site was originally proposed for three new car dealerships, the release explained.

Managing Director Don Arones with Cushman & Wakefield in Phoenix represented the buyer and Marty De Rito of De Rito Partners, Inc. represented the seller in the transaction.

The project was recently approved by the city council and is estimated to cost up to $1 billion, the release stated.

“This will be a world-class residential project and will provide needed upscale housing to the many employers in the growing Scottsdale area and surrounding communities. The property is strategically located along the freeway that will also make it very convenient for residents to access any destination,” said Don Arones in the release.

Designed by architects David C. Hovey and David Hovey, Jr., Optima McDowell Mountain Village is comprised of six concrete-framed condominium and apartment buildings with undulating landscaped facades that echo the shapes of the McDowell Mountains.

Each of the six buildings will contain its own resort-style amenity offering which will include a rooftop deck with a 50-meter Olympic-length swimming pool, a sauna, a spa and a cold plunge among many other luxury features.

The ground-floor level of each building will be similarly outfitted with spacious, well-appointed lobbies, a fitness center and yoga studio that look out over the landscaped courtyard, a sauna and steam room plus much more.

With views of the majestic McDowell Mountain range as the backdrop, the location is just a five-minute drive to the shopping, dining and entertainment destinations of Scottsdale Quarter and Kierland Commons.

Being adjacent to the Loop 101 Freeway and just two minutes from the SR-51 Highway and ten minutes away from the I-17 Highway will allow residents to be just 15-25 minutes from Downtown Phoenix, Glendale, Old Town Scottsdale, Tempe, Mesa and Phoenix Sky Harbor Airport, the release detailed.

Also, the development will feature a bicycle and pedestrian path around the perimeter of the development that will connect to the bicycle and multi-use paths of the City of Scottsdale Bicycle Master Plan.

Parking at McDowell Mountain Village will be 100% underground, and Optima will also be developing a new roundabout on Mayo Boulevard.

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Colliers in Arizona has released the annual Greater Scottsdale Airpark 2030 Report, indicating healthy conditions within the growing submarket.

According to the report, demand for commercial space in the area is exceeding supply and development of new space is being handled at a healthy pace.

“Many are speculating a future recession, but we are not overly concerned about that for the Scottsdale Airpark,” said Jim Keeley, SIOR, CCIM and founding partner of the Colliers Scottsdale office.

Read more on Scottsdale Progress

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