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6/19/25
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Legacy Partners and joint venture partner DWS have started construction on Olea Scottsdale, a 433-residence apartment community in Scottsdale, AZ. The project is located north of Loop 101 and east of Scottsdale Rd, at the northwest corner of Legacy Blvd and Miller Rd, in Scottsdale’s fastest growing neighborhood.
Olea Scottsdale will consist of 325 garden-style homes and 108 townhomes. Thirty-eight total buildings are planned, 24 of which will be townhomes and 14 will be apartments.
The project’s location is highly desirable as the North Scottsdale submarket is among the fastest-growing and highest-rent multifamily submarkets in the Phoenix MSA. Luxury shopping options (including a Whole Foods-anchored shopping center one mile from the project), world-class resorts and golf courses. With its proximity to the Loop 101, North Scottsdale presents residents with convenient access to two of Arizona’s largest employment concentrations, the Scottsdale Airpark, and the Kierland Corridor.
Promising a phased delivery, the townhomes will be completed in summer 2027 with the garden-style homes anticipated for fall 2027. KTGY is the architect for the project and an affiliate of The Dinerstein Companies, a Houston-based real estate company, will be the general contractor and co-investor in the project.
“This development opportunity and its design align with our strategy of investing in best-in-class residential projects in submarkets with strong fundamentals and builds on our programmatic relationship with Legacy Partners to deliver build-to-core assets on behalf of our investors,” added Michael J. Nigro, CIO and Head of Value Add & Development, Americas Real Estate at DWS.
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