The first residents have moved into the highly anticipated $1 billion Optima McDowell Mountain community — marking a new era of mixed-use luxury in North Scottsdale.
Key Highlights:
- 22-acre site at Loop 101 and Scottsdale Road
- 1,330 apartments & condos plus 36,000 sq. ft. of retail and dining
- Lease rates: from $2,900 to over $10,000/month
- Condo sales: $600,000 to $3M+, with 40% of early buyers combining units for custom homes
- 20% of apartments pre-leased and 5% occupied ahead of schedule
- Major neighbors fueling growth:
- ASM America HQ ($55M payroll, 1,200 jobs)
- Banner Health hospital ($400M investment, 2,500 jobs)
- Mayo Clinic expansion ($1.9B investment, 3,500 jobs)
Amenities:
- Rooftop Olympic-length pool, running track, basketball court, pickleball, putting green
- 75% of acreage dedicated to open space
- The largest private rainwater harvesting system in the U.S.
Market Context:
- Scottsdale’s luxury market remains resilient, though condo resales are down 4.1% YoY to a median $413,500.
- Developers continue betting big on high-end, mixed-use environments that blend residential, medical, and tech-sector growth.
Investor Takeaway:
North Scottsdale is solidifying as Arizona’s premier live-work-play corridor, backed by healthcare, tech, and lifestyle amenities — ideal for investors seeking long-term appreciation and rental stability in the luxury segment.