Mark-Taylor Breaks Ground on Gilbert M-F Community; Crescent Kicks Off $61M M-F Project in Scottsdale
By Amalia Otet, Associate Editor
Mark-Taylor, Inc. recently broke ground on San Privada, a 296-unit luxury rental community in Gilbert. Located at 1480 E. Pecos in the Spectrum neighborhood, ‘the Next Generation’ complex will offer one-, two-, and three-bedroom homes with an average size of 1,087 square feet. Interiors will feature open kitchens with granite, distressed plank flooring, custom cabinets, bar-top seating with pendant lights, and oiled bronze fixtures.
Additionally, the community will showcase amenities such as resort-style swimming pool with sundeck, poolside cabanas and wet bar, whirlpool spa, and the industry’s largest on-site fitness center with a separate spinning studio, individual workout stations, and TVs. Leasing is scheduled to begin next May; rents will range from $900 to $1800, according to AZRE Magazine.
Meanwhile, Crescent Communities and joint venture partner Glimcher Realty Trust began construction on Crescent Scottsdale Quarter, a $61 million, 275-unit luxury apartment complex. Scheduled to open in the spring of 2015, it will be the first residential component of Scottsdale Quarter, Columbus, Ohio-based Glimcher’s 28-acre mixed-use development at Scottsdale Road and the Greenway-Hayden Loop.
Charlotte, N.C.-based Crescent’s six-story building (pictured at right) will feature studios, one-bedroom and two-bedroom units. The community will offer a resort-style saltwater pool and two-story fitness center with views of the McDowell Mountains.
Crescent Scottsdale Quarter will also be among the first apartment communities in the city to comply with the 2012 International Energy Conservation Code and International Green Construction Code, the company said in a statement.
The property will offer access to an upscale, 370,000-square-foot open-air center that features a tenant roster including Apple, Restoration Hardware, lululemon, Calypso St. Barth and True Food Kitchen. Scottsdale Quarter also includes 203,000 square feet of office space.
Crescent and Glimcher are providing equity for the project, and Regions Bank is the construction lender. Whiting-Turner Contracting Co. is the builder. The architect is Gromatzky Dupree & Associates. Nelsen Partners, Inc. is the design architect, and Kimley-Horn and Associates is the civil engineering partner.
Photo credits: Crescent Scottsdale QuarterTags: Architecture/Design, Crescent Communities, Crescent Scottsdale Quarter, Developers, Development, Finance/Investment, Financiers, Gilbert, Glimcher Realty Trust, Green, groundbreaking, Investors, Local, luxury, Luxury Apartment Complex, Luxury rental community, Mark-Taylor Inc., multi-family, multifamily development, Phoenix Lead Story, Phoenix metropolitan area, San Privada, Scottsdale Quarter