Optima acquires 22-acre development site in Scottsdale for $1b residential project

Optima has acquired a 22-acre development site on thesoutheast corner of Scottsdale Road and the Loop 101 freeway in Scottsdale for the development of Optima McDowell Mountain Village, a $1 billion residential project that recently received city approval.

The site had a sales price of $44.75 million, and the seller was John Lund.

The project will consist of six eight-story buildings totaling approximately 1,330 residential units plus 36,000 square feet of commercial space with top amenities, including a rooftop deck with a 50-meter Olympic-length swimming pool, sauna,  spa and a cold plunge. The ground-floor level will feature a lobby, fitness center, a sauna and steam room, and yoga studio. And the residents will have access to an underground parking lot.

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 square f