Scottsdale Entrada breaks ground on opportunity zone site
REAL ESTATE | 19 Mar, 2020 | AZRE
Banyan Residential announced the start of construction on the long-anticipated Scottsdale Entrada development this morning. Located at the northeast corner of 64th Street and McDowell Road, Scottsdale Entrada will revitalize a long-vacant 33-acre lot with a vibrant mixed-use campus, including 736 apartment units, 250,000 square feet of office space, 5,000 square feet of retail and ample public open space. The project is located in an Opportunity Zone, part of a revitalization program formed under the Tax Cuts and Jobs Act of 2017 and will be developed with program-compliant funding.
“Because of its central location and proximity to Phoenix, this project is critical to the economic prosperity and urban renaissance of the area and surrounding neighborhoods,” said Mayor Lane. “As the name conveys, this is a major entry point to Scottsdale. We are very excited for construction to start.”
Designed by a team of local experts including Todd & Associates and SmithGroup, the completed project will offer customers first-class amenities including resort-style pools, fitness centers, mobile workspace areas, a game room, and deck spaces with expansive views of the Papago Buttes and McDowell Mountains. Scottsdale Entrada will also offer ample public gathering spaces, including a large park designed to accommodate concerts or other events, as well as a dog park, jogging trail, and connection to the Arizona Crosscut Canal. Designed to integrate natural and urban living, Scottsdale Entrada is one of the largest mixed-use developments in the Phoenix area.