By: Daniel Benson; Belfiore Real Estate Consulting
According to public record, (click here to view the affidavit) PBB-TRG Valley Ho, L.P. (a partnership including PB Bell Companies & Capitol Corporate Services Inc.) closed on a 3.55 acre site planned for 135-multi-family units. The transaction closed February 12, 2014 for $5,000,000 ($37,037 per planned unit / $1,408,451 per gross acre).
The site is located at the south west corner of Main Street and 69th Street. The site is directly south of the Valley Ho Resort and directly east of the Mark Condominium.
According to Scottsdale City Council submittals (click here to view the City Council Report), the project, being marketed as the Standard at Valley Ho, is planned as a single 3-story building with a maximum building height of 36 feet. A total of 209 parking spaces will be provided. A pool and recreation facility will also be constructed on the property. The development plan was formally adopted by the Scottsdale City Council at its July 1, 2013 meeting.
