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Cushman & Wakefield advises Optima on 22-acre acquisition in north Scottsdale

Photo of Optima project in North Scottsdale
Optima eyes billion-dollar McDowell Mountain Village in north Scottsdale
Staff Reports | Digital Free Press

Optima has acquired a 22-acre development site on the southeast corner of Scottsdale Road and the Loop 101, Cushman & Wakefield officials report.

Chicago-based Optima is constructing a new luxury mixed-use residential project coined ‘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 release states.

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 Scottsdale City Council and is estimated to cost up to $1 billion.

“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,” Mr. Arones said in a prepared statement.

Designed by award winning architects David C. Hovey, FAIA, and David Hovey, Jr. AIA, Optima McDowell Mountain Village is comprised of six concrete-framed condominium and apartment buildings with undulating landscaped facades meant to illustrate the shapes of the McDowell Mountains, proponents of the project say.

Each of the six buildings will contain its own resort-style amenity offering that will include a rooftop deck with a 50-meter Olympic-length swimming pool; a sauna, spa, and cold plunge; a running track that will follow the perimeter of the roof; outdoor fireplaces; lounge seating; outdoor kitchens with barbecues and dining spaces and sheltering arbors covered with vines. Every rooftop will offer spectacular views of the McDowell Mountains to the east, vibrant sunsets to the west, Pinnacle Peak to the north and Camelback Mountain to the south.

The ground-floor level of each building will be similarly outfitted with amenities including

  • Spacious lobbies;
  • A fitness center and yoga studio that look out over a landscaped courtyard;
  • A sauna and steam room;
  • A 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; and
  • A business center and conference room.

The property is a five-minute drive to the shopping, dining and entertainment destinations of Scottsdale Quarter and Kierland Commons. Being adjacent to the Loop 101 Freeway, just two minutes from the SR-51 highway and 10 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.

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 Blvd.

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