29SC Acquires Solaire on Scottsdale Apartments

Article originally posted on Globe St. on May 25, 2023

TEMPE, AZ–29th Street Capital (29SC) acquired Solaire on Scottsdale Apartments, a 124-unit property located in Tempe, AZ. Developed in 1963, Solaire on Scottsdale is a B- asset positioned in a Class A location.

According to a prepared release, the community offers residents one swimming pool, an outdoor grilling and picnic area and package lockers. 29SC plans to renovate both interior units and exterior amenities.

The release notes that plans include adding an outdoor game area, fire pit and dog park, upgrading the pool area, and renovating units. Updates to the interiors involve adding smart home tech packages, hard-surface countertops, tile backsplashes and upgrading kitchen appliances, cabinetry and hardware, flooring and baseboards, bathroom mirror frames, ceiling fans, and lighting packages.

Solaire on Scottsdale is located immediately west of Scottsdale Road on McKellips Road in north Tempe and offers access to several of the Valley’s employment centers, including Downtown Scottsdale, Tempe Town Lake, ASU, Midtown & Downtown Phoenix, and the Camelback Corridor. The local area is committed to attracting and retaining high-profile corporate names, including General Dynamics, HonorHealth, Vitalant, Yelp, Indeed, Banner Health, and Opendoor.

Haven Residential, the property management company, will oversee management and leasing.