A hotel, restaurants and luxury condos are among the next additions to a $1 billion project north of Loop 101 in Scottsdale.
One Scottsdale, a 100-acre master-planned development led by Scottsdale-based DMB Associates, will see several new projects begin construction before the end of the year. The mixed-use development already has several buildings open, including luxury condos, apartments, a medical office and quick-serve restaurants.
Michael Burke, senior vice president of commercial development for DMB, said Anish Hotels Group recently received permits for a 157-room Marriott Tribute Portfolio hotel that will be named the Dowe. Construction on the hotel is expected to begin by the end of October. Construction will take about 18 to 20 months
to complete.
Belgravia Group is planning its third luxury condo development in One Scottsdale and planning two restaurants in the development.
Alan Lev, chairman of Belgravia Group, said the company’s first phase of condos, called Portico, is already sold out. The second phase, called Atavia, is about 60% sold, with completion expected by the end of the year.
The third phase will include two buildings totaling 98 condo units, which will break ground in 2027.
The group also is planning two high-end restaurants that will begin construction in the next six months, Lev said. The names of restaurants have not been announced, but both will be brands from outside the state. The first is planned to be a modern, high-end Greek restaurant, and the second will offer European breakfast and lunch.
A 280-unit luxury apartment complex is under construction at One Scottsdale, called MAA, and is expected to complete construction in about a year, Burke said.
Ryan Cos., the developer of the medical office building at One Scottsdale, is in escrow to buy additional land for another phase.
Burke said the group is working on more deals with restaurants, another hotel, senior living and an office for the final 13 acres remaining available at One Scottsdale along Scottsdale Road.
The final hotel would be a high-end or luxury hotel, he said.
Michael Sutton, a broker representing One Scottsdale, said there is pent-up demand for restaurants north of Loop 101, and he expects One Scottsdale to generate a lot of interest from restaurant operators because the market is underserved.
The plan has space for between 150,000 and 350,000 square feet of office space, Burke said, but the group will not build offices speculatively, meaning it must have businesses signed on to rent the space before construction begins.
Brent Moser, a broker representing One Scottsdale, said offices have been the most challenging type of project to pull off. But now that restaurants and hotels are beginning to claim spots in the development, office-using businesses could be drawn to the area’s amenities.
Reach the reporter at cvanek@arizonarepublic.com. Follow her on X, formerly Twitter: @CorinaVanek.
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This article originally appeared on Arizona Republic: Hotel, restaurants and condos coming to One Scottsdale | Exclusive
