One Scottsdale Asks City For Bonds To Grow Area

One Scottsdale, a $1.5 billion DMB Associates Scottsdale real estate project (northeast of Scottsdale Road and Loop 101), is asking the city of Scottsdale to amend its development standards to allow for taller buildings and the ability to float $50 million in bonds for infrastructure improvements to widen Scottsdale Road and Thompson Peak Parkway, build a freeway frontage road, and improve drainage, water and sewer. Current approved heights for the development is 60 feet, and DMB wants to go up to 90 feet.

When completed, One Scottsdale will have 1.8 million square feet of world-calss retail shops, commercial office space, restaurants, and a total of 1,100 residential condominiums, penthouses and urban estates. Two to three high-end resort boutique-class hotels are also planned. More...