Optima Center Kierland, a large luxury apartment and hotel development, is being planned for the northwest corner of Scottsdale Rd and Greenway-Hayden Parkway, immediately north of Kierland Common. This is just next door to the our favorite Scottsdale shopping venues, Kierland Commons and Scottsdale Quarter. It’s also adjacent to the business area referred to as Scottsdale Airpark, which is the largest employment center in Scottsdale and the second largest in Arizona.
The developer, Optima, paid $11.27 million for the 9-acre site, which was formerly the home of Robb and Stucky, the furniture store that went out of business during the economic downturn.
Plans for the development include 700 apartments and 290 hotel rooms. There will be four 12-story buildings, and an underground parking structure with approximately 1,250 parking spaces.
The new development will be modeled after Optima’s downtown Scottsdale residential development, Optima Camelview. (Have you seen the uniquely contemporary residential building just north of Fashion Square – the one with the large windows and balconies full of tropical green plants? That’s Optima Camelview.) View current listings in Optima Camelview.
Many local real estate analysts are worried that the multi-family apartment market in Scottsdale could become over-saturated. Others argue that household formation is growing and so is the local business environment, and see a need for these rental housing units.
