Scottsdale Luxury $1 Billion Mixed-Use Development Receives City Council Approval

Article originally posted on Phoenix Business Journal on November 23, 2022

A mixed-use project that could represent a capital investment of $1 billion in north Scottsdale received its thumbs up.

Scottsdale-based Optima Inc. received approval from Scottsdale City Council this week on a development agreement and rezoning for Optima McDowell Mountain Village. The deal was approved Monday on a 4-3 vote. Optima will build six, eight-story buildings that are each 118 feet tall. Four of those buildings will be apartments and the other two are condominiums. Those buildings will include 1,330 units plus 36,000 square feet of commercial space and other amenities throughout the development.

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