Scottsdale Waterfront site likely to offer luxury condo units

The final phases of the Scottsdale Waterfront, an emerging area of the city's downtown, likely will include a luxury condominium complex with fewer than 200 units and a tower rising 140 feet near Scottsdale Fashion Square mall.

Scottsdale Waterfront LLC - a partnership between Starwood Capital and Golub and Co. - has submitted to the city a revised request to modify development standards on a vacant parcel along Goldwater Boulevard, just south of Camelback Road and west of Scottsdale Road.

The request doesn't include a specific plan for development, but Bruce Armstrong, Golub & Co.'s senior vice president, said Thursday the best use of the site would be condominiums "as opposed to rental apartments."

Another major development proposal nearby calls for apartments, also in a building that would be among the city's tallest. Gray Development Group is proposing its nearby Blue Sky project on Scottsdale Road north of Camelback Road.

The present glut of vacant condos in downtown doesn't affect the Waterfront proposal's chances for success because it wouldn't be completed until at least three years from now, Armstrong said.

"In three years we believe that the economy will rebound," he said.

The City Council has postponed consideration of the Waterfront request until Jan. 25. Scottsdale Waterfront LLC asked for more time to meet with residents of the nearby Villa Adrian community and the Waterfront condos who were upset by its request to amend development standards approved in 2003.

Armstrong said after meeting with residents and representatives of both communities, the request was revised to take into account their concerns by creating a greater buffer between Villa Adrian and the development. The height was reduced from 149 feet to 140 feet as well.

At least some nearby residents remain upset with the proposal.

"We would like to yell and scream in somebody's face if they would stand there and listen," said Pat Lamer, spokesman for residents of the nearby Villa Adrian neighborhood.

by Edward Gately The Arizona Republic Dec. 31, 2010 12:00 AM





Scottsdale Waterfront site likely to offer luxury condo units