Old Town Scottsdale and the surrounding area is one of the hottest places for new housing projects and office spaces. More than $100 million in combined development projects, all expected to begin in 2016, have been proposed in and around Old Town and include apartments, townhomes, restaurants, and an expanded medical center.
Here’s a rundown of what to expect in Old Town Scottsdale’s near future:
Two new restaurants
Square One Concepts, the company behind Wasted Grain and Cold Beers & Cheeseburgers, plans to open two new restaurants in Old Town Scottsdale next spring. The first, Bourbon & Bones, is described as an upscale chophouse and will serve wet-aged and dry-aged cuts of beef along with more than 75 different bourbons.
Located in the former AlphaGraphics building at Scottsdale Road and Third Avenue, across the street from See’s Candies and the Gelato Spot, Bourbon & Bones will feature an interior of reclaimed wood, metal accents, and distressed-leather seating. It will be open from 3 pm-1 am for dinner only, except on Fridays for a “power lunch.”
The second restaurant, Crab & Mermaid, will focus on fresh seafood from three regions: the East coast, the West coast, and the Gulf coast. Its menu will include seafood favorites such as regional clam chowder, lobsters rolls, crab cakes, po’ boys, shrimp boils, and Baja-style tacos as well as a selection of fresh seafood.
Crab & Mermaid will have an open air patio and serve lunch and dinner seven days a week, from 11 am-11 pm. Happy hour is 3 pm-6 pm, Monday through Friday.
365-unit apartment complex
JLB Partners, the group behind The Moderne, a 369-unit complex in Scottsdale that opened in August 2014, wants to build a five-story, 365-unit apartment complex on the site of the former Red Lobster restaurant and surrounding property near Scottsdale and Osborn roads.
The resort-style apartment complex, which has a $70 million price tag, will likely be similar to The Moderne. Kevin Ransil, development partner for JLB, told The Arizona Republic that construction is expected to begin in April and residents could begin moving in by June 2017.
Townhomes near Scottsdale Stadium
Developer Larry Gabriele, Sr. is tearing down an aging apartment complex on the northwest corner of Miller and Osborn roads and replacing it with 10 townhomes. The townhomes, located just a few hundred feet from Scottsdale Stadium, spring training home for the San Francisco Giants, will range from 1,800 to 2,200 square feet. Residents will enjoy a shared pool, balconies, and patios. The units will likely cost $700,000 to $900,000.
Banner Health Behavioral Hospital expansion
About a quarter-mile south of Scottsdale Stadium, Banner Health hopes to expand its mental health hospital on Earll Drive. Plans call for demolition of the existing building and replacing its 38 beds with a two-story, in-patient center that could accommodate 96 psychiatric patients. The $36.5 million expansion will also include indoor recreational and dining space, a pharmacy, and outdoor courtyards.
New housing near the waterfront
The Arizona Republic reports that a four-unit housing complex is proposed to replace single-family homes on Minnezona Avenue near 74th Street, east of Scottsdale Fashion Square mall and Scottsdale Waterfront.
Units would be three stories with a garage on the ground floor, kitchen and living room on the second floor, and bedrooms on the third floor. The homes would average just under 2,000 square feet.
There is always plenty happening in Old Town Scottsdale, and these new projects are sure to bring in more local visitors and tourists.
Realtor | Founder
The Matheson Team – RE/MAX Fine Properties
21000 N. Pima Rd., #100, Scottsdale, AZ 85255
602-899-5602 or 888-987-0706