TDI Real Estate Holdings of Irving, Texas, has begun construction on the first phase of a project that will bring up to 750 units of luxury housing to Scottsdale.
Construction on Phase One of Jefferson at One Scottsdale is presently underway on 388 units scheduled for completion in 2014.
The site is located within the One Scottsdale master-planned development located at the NEC of the 101 Freeway and Scottsdale Road in the heart of the growing north Scottsdale corporate corridor.
The 80-acre mixed-use property is planned for specialty retail, dining, Class A office and hotel uses, along with a variety of luxury residential choices. The corporate component is anchored by Dial/Henkel North American Headquarters and the retail mixed-use component is owned by DMB Associates, Inc. in partnership with national retail developer Macerich.
“We will be offering the market a superior product with unprecedented amenities and an ideal location near employment centers and adjacent to the Grayhawk luxury golf course,” said Gus Villalba, TDI Executive Vice President and Investment Partner.
“Jefferson at One Scottsdale will be the premier luxury multi-family project in north Scottsdale to meet a growing demand for upscale housing in this submarket, which is a major employment center for the region.”
The first phase will consist of 178 one-bedroom/one-bath apartments, 186 two- bedroom/two-bath apartments and 24 three-bedroom/three-bath apartment units. Residents will be able to enjoy a 10,800 SF clubhouse, lounge, media room, two resort size swimming areas with spa, 294 garage spaces, 182 carport spaces, 9-foot ceilings, outdoor storage units and Wi-Fi access in all common areas. The entire complex will be access controlled.
Financing was arranged by HFF (Holiday Fenoglio Fowler, L.P.) and HFFS Securities L.P. with a construction loan through Texas Capital Bank and The PrivateBank and mezzanine financing from Behringer Harvard.
