Scottsdale’s iconic Old Town may soon need a rebrand. A wave of development—hotels, condos, and mixed-use spaces—is reshaping the city’s historic core, and investors should take note.
🔑 Key Highlights:
- 2,000+ Units Coming to Old Town: Of the 9,000 multifamily units currently in the Scottsdale pipeline, nearly half are in Old Town.
- Hotel Boom: Major projects like the AC Hotel, Maya Hotel (12 stories), and Caesar’s Republic are reshaping the skyline.
- Mixed-Use Magnet: Fifth and Goldwater will bring 232 luxury units + 32,000 sq ft of retail/restaurants—exactly the kind of tenant-attracting amenity bundle smart investors love.
- Entertainment District Revamp: The once party-centric area is being transformed into a more artful, high-density, high-rent neighborhood.
- Scottsdale City Center: A massive 12-story residential/retail plaza with nearly 300 units aims to be the city’s next “great neighborhood.”
🏗 Why It Matters for Investors:
- Rental Demand Will Rise: More units = more opportunities for investors to capture renters who want to live in walkable, amenity-rich areas.
- Higher NOI Potential: Proximity to hospitality and nightlife typically commands premium rents.
- Property Management Opportunity: With complex zoning and tenant demand, third-party PMs will be key for hands-off investors.
⚠️ Risks to Watch:
- Not All Projects Break Ground: Many are still seeking financing—keep tabs on construction progress.
- Regulatory Headwinds: As always, watch for zoning and permit challenges, especially near the Entertainment District.
💬 Bottom Line:
Old Town is turning into a vertical, mixed-use powerhouse. Savvy investors who get in early—particularly with property management in place—stand to benefit from Scottsdale’s next real estate boom.