DMB Moves Ahead On Mixed-Use Development in North Scottsdale

By Angela Gonzales | Phoenix Business Journal After a bit of a hiatius following the Great Recession, DMB Associates Inc. is closing deals quickly on a 75-acre mixed-use project in north Scottsdale. It’s been a long time coming for the project, called One Scottsdale, just north of Loop 101 on Scottsdale Road. The Scottsdale-based developer …

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Local Developer ‘Rounds Up’ for Arizona Housing Fund Program

By Angela Gonzales | Phoenix Business Journal NexMetro Communities, known among the first in the nation to introduce the build-to-rent hybrid model that combines detached single-family homes in a community rich with amenities, is going for another first. Phoenix-based Nexmetro is the first multihousing developer to launch a “Rent Round Up” program for the Arizona …

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Scottsdale Apartment Investor Starts His Own Construction Firm

By Angela Gonzales | Phoenix Business Journal Zach Haptonstall has been busy, to say the least. The co-founder of Scottsdale-based Rise48 Equity LLC — which has $1.06 million in multifamily assets under management in metro Phoenix — is starting his own construction firm to handle renovation projects of the apartments he’s buying. This move follows …

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Scottsdale Startup Gaining Traction with Minimal Tiny Homes

By Angela Gonzales | Phoenix Business Journal When Zander Diamont and Jared Amzallag started a real estate development company at the peak of the coronavirus pandemic, they kicked off with a 15-unit townhome project in Phoenix. But when their project took a bit longer than they expected, they shifted gears and began building minimal and …

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Scottsdale-Based Build-to-Rent Developer Starts Construction Firm

By Angela Gonzales | Phoenix Business Journal Avenue North, which has been busy developing $200 million build-to-rent communities in south Phoenix, has launched a construction company to build projects for other developers and owners. The goal of this new third-party construction firm is to build 1,000 units a year, said Ryan Hartman, chief vision officer …

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Apartment Sales Topping $100M Continue to Close in the Valley

By Angela Gonzales | Phoenix Business Journal Investors are cashing in on a hot market as multifamily property sales over $100 million continue to close in metro Phoenix — even for apartment communities built in the 1980s. The biggest deal to close recently was the $166 million sale of La Privada at Scottsdale Ranch. An …

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Developer Pays $61.85M for Prime Scottsdale Development Site

By Angela Gonzales | Phoenix Business Journal Blue 85.6-acre parcel at SW corner of Loop 101 and Hayden Rd in Scottsdale sold at auction April 13. A developer bought a prime piece of land in Scottsdale at an Arizona State Land Department auction on Wednesday. Hayden Loop 101 Investors LLC, an entity tracing to Scottsdale-based …

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Banner Health Eyes North Scottsdale for Next Hospital

By Angela Gonzales | Phoenix Business Journal Banner Health — the state’s largest health system and among the largest in the nation — is about to get even bigger. The nonprofit health system is in preliminary plans to buy land for a new hospital in north Scottsdale. The Phoenix-based health system is working with city …

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Scottsdale Developer Doubles Investment in Phoenix Retail Center

By Angela Gonzales | Phoenix Business Journal After a $1.5M renovation and boosting occupancy to nearly 100%, The Shops at Dynamite Creek sold. After paying $10.5 million for a shopping center in August 2020, David Malin has sold it for $21.95 million. During the 18 months that he owned The Shops at Dynamite Creek at …

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Developer Proposes $1B Residential Project in North Scottsdale

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 …

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