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Big Projects ‘Flipping’ North Scottsdale Landscape | Living In Phoenix Arizona - Natan Jacobs Real Estate Group | Multifamily Real Estate Brokerage

Big Projects ‘Flipping’ North Scottsdale Landscape | Living In Phoenix Arizona

May 14, 2025

BIG PROJECTS ‘FLIPPING’ NORTH SCOTTSDALE LANDSCAPE

LIVING IN PHOENIX, ARIZONA

Big Projects ‘Flipping’ North Scottsdale Landscape

 

By Tom Scanlon, East Valley Tribune, eastvalleytribune.com | May 14, 2025

Construction crews are busy transforming hundreds of acres of North Scottsdale desert land.

An update on a few of the biggest North Scottsdale projects:

Optima

On Scottsdale Road just south of the Loop 101, Optima McDowell Mountain Village is well under way.

The first of six planned apartment buildings – all to have rooftop pools – has been framed.

Ultimately, the project plans 1,330 apartments and 36,000 square feet of commercial area.

Underground parking is planned for the 22-acre site at Scottsdale Road and Mayo Boulevard.

ASM

Netherlands tech giant ASM has started building a new North American headquarters – double the size of its current Phoenix facility.

On its 20 acres, semiconductor equipment supplier ASM plans a $300 million office and research lab. A five-story parking garage will be used by up to 1,300 ASM employees.

Last year, City Council approved a development agreement with ASM for 21 acres on Miller Road – which will be expanded with a roundabout, per the agreement.

Banner Health

Banner Health was part of a $7 million water-sewer line reimbursements agreement with the city.

In September, the Scottsdale Development Review Board unanimously approved Banner’s plan for a three-story medical office building.

Preliminary work on the project has started.

Banner Health Center Plus is the first – and most modest – part of a $400 million “medical campus” plan for the 48-acre site.

According to Banner spokesman David Leibowitz, who also is an Axon spokesman, “Banner has made substantial progress on the Banner Health Center plus since unanimous approval in September by the Development Review Board. We’re on track to have permits approved and a groundbreaking celebration this month.”

While the smaller facility will be completed by early 2027, Banner Health must receive rezoning approval to build its planned hospital here.

Rival HonorHealth is putting up a public relations and legal fight.

Axon

The rollercoaster ride continues for founder/CEO Rick Smith’s dream of a “corporate campus” near the Loop 101 and Hayden Road.

In November, City Council approved the plan for nearly 1,900 apartment units and a hotel, as well as the originally planned new corporate headquarters.

But, after a group gathered enough signatures to challenge the council rezoning and force a referendum, Axon successfully lobbied for state legislation.

On May 6, City Council – made up of new members who generally oppose Axon’s plan – approved paying a legal consultant to consider a court challenge of the Axon-friendly bill signed by Gov. Katie Hobbs last month.  – more at eastvalleytribune.com

 



Thinking about investing in Phoenix real estate? Have a property to sell in Arizona? Tell us what you’re searching for. Connect with us to buy, sell, or lease multifamily, residential and commercial real estate in Phoenix, and across Arizona. Let’s work together.

Natan Jacobs, Vestis Group

Call: 602-281-6202

Email: Info@Vestis-Group.com

 

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