- Project Details:
- Named Olea Scottsdale, the development includes 335 apartments and 108 townhomes.
- Located on 18 acres at 19550 N. 76th Street, near Grayhawk and One Scottsdale.
- Will feature 38 total buildings: 14 for apartments and 24 for townhomes.
- Design Features:
- 25-ft setbacks along Legacy Blvd and Miller Rd with desert landscaping buffers.
- Over 75-ft setbacks for townhomes to allow for a dog park and open space with mountain views.
- Timeline:
- Townhomes expected by summer 2027, apartments by fall 2027.
- Phased construction planned.
- Developer Insight:
- Legacy Partners views the project as a chance to capitalize on the area’s strong macroeconomic trends.
Why This Matters for Investors in Maricopa County:
- No rezoning required = reduced entitlement risk and timeline delays.
- Adds more inventory to a supply-constrained market.
- Aligns with demand for townhome-style rentals in North Scottsdale.
- Completion timing coincides with expected rent growth rebound in 2027.