By Angela Gonzales | Phoenix Business Journal
Scottsdale-based Optima Inc. is planning a $1 billion luxury residential community in north Scottsdale with 1,500 units — the largest of its projects to date.
The luxury developer has submitted its pre-application with the city of Scottsdale to begin the approval process for the project at the southeast corner of Scottsdale Road and Loop 101.
“This process is just starting,” said David Hovey Jr., president, COO and principal architect of Optima.
“We anticipate when completed the project will have a total capital investment in the neighborhood of $1 billion,” he said. “We currently are evaluating options for both construction lenders and capital partners.”
Read more (subscriber content)
Some stories may only appear as partial reprints because of publisher restrictions.