By AZRE | AZ Big Media (Submitted Photo)
Banyan Residential, the private real estate investment firm behind the highly anticipated Scottsdale Entrada mixed-use project, has closed on a $101,500,000 construction loan to finance the 515 additional apartment units that comprise the second phase of the project. Wells Fargo Bank provided the loan.
Scottsdale Entrada will be one of the largest mixed-use developments in the Phoenix area, bringing more than 250,000 square feet of office space, 7,500 square feet of retail space, and 735 apartments to a formerly underutilized 33-acre lot. Designed by local architecture firm Todd & Associates, the residential component of the project will offer residents first-class amenities including resort-style pools, a fitness center, mobile workspace areas, a game room, and deck spaces with expansive views of the Papago Buttes and McDowell Mountains. There will also be numerous public gathering spaces, including a large “village green” lawn, dog park, jogging trails and direct access to the Arizona Cross Cut Canal.
