Scottsdale hotel to be converted to luxury apartments by mid-2023
Feb 7, 2022, 1:00 PM | Updated: Feb 8, 2022, 12:20 pm
PHOENIX — A local investment firm acquired a Scottsdale hotel and plans to convert the space into an 85-unit luxury apartment community.
Sterling Real Estate Partners recently completed the purchase of the 114-room extended stay Suites on Scottsdale, located at Scottsdale and Mountain View roads, according to a press release.
Development of the apartments is expected to start in the summer and an estimated time for completion is the first quarter of 2023.
“The location of this property could not be better,” David Zeff, president of Sterling, said in the release. “There are not many corner locations at prominent intersections on Scottsdale Road.”
Construction will mostly involve updating the property to meet Scottsdale residential building codes.
Each unit will get a new balcony, and amenities will include a fitness center, yoga studio, movie theater, dog park and resort-style pool.
Residences will include one-, two- and three-bedroom units ranging from 450 to 1,350 square feet.