Legacy Partners and joint venture partner DWS have started construction on Olea Scottsdale, a 433-residence apartment community in Scottsdale. The project is located north of Loop 101 and east of Scottsdale Road, at the northwest corner of Legacy Boulevard and Miller Road, in Scottsdale’s fastest growing neighborhood.
In addition to development, Legacy Partners, Inc. provides management services for our own portfolio, as well as other owners. Combined, we manage a portfolio of over 50 multifamily communities with more than 12,000 apartment homes, with a gross value in excess of $3 billion.
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.
Legacy Partners, Inc. is a privately held real estate firm that owns, develops and manages multifamily communities throughout the United States. Since our inception, we have been driven by integrity, dedication, and a passion for perfection while returning exceptional results. Since 1968, we have developed more than 78,000 apartment homes and worked with some of the world’s largest financial institutions, life insurance companies, and real estate companies.
