By Edward Gately | The Arizona Republic
A giant crane towers over the massive construction site for the final phases of the Scottsdale Waterfront in downtown Scottsdale.
Alliance Residential Co. is progressing ahead of schedule on Broadstone Waterfront, a 259-unit apartment complex with restaurant and retail space along Marshall Way. It also is ahead of schedule on Broadstone Lincoln, a 264-unit apartment complex northwest of Scottsdale Road and Lincoln Drive.
Scottsdale is leading the Valley in apartment development, said Tom Simplot, president/CEO of the Arizona Multihousing Association. He also serves on the Phoenix City Council.
“We know the marketplace was looking for that because occupancy rates in Scottsdale are practically at full-occupancy levels,” he said. “And it also reflects the fact that Scottsdale is maturing as a community, so if you look closely you see that several of those are infill projects, several of those are redevelopment projects, and again that development reflects what the market is looking for.”
