New residential project at key Scottsdale intersection heads to City Council

By Ron Davis, Reporter, Phoenix Business Journal

A new three-story residential project is moving forward near Scottsdale Road and Shea Boulevard.

Denver-based DPC Cos. is behind the project, which is dubbed Cosanti Commons. The 345,000-square-foot building would be home to 196 units and 1,000 square feet of new commercial space. DPC Cos. has developed projects in the Valley such as Scottsdale Entrada and the Park at San Tan in Chandler.

The proposal for Cosanti Commons will be considered by Scottsdale City Council after the planning commission recommended the proposal for approval at its April 24 meeting on a 6-1 vote. Berry Riddell LLC’s John Berry, who is an attorney working on behalf of DPC for the project, told the Business Journal that as of April 26 there isn’t a date set yet for the hearing.

Since it received approval from the city’s development review board last month, the proposal for Cosanti Commons has been modified to reduce the number of units from 240 to 196, with the project now limited to three stories. The residential building will also be home to a two-story underground parking garage.

The DRB unanimously recommended approval for the project at its March 21 meeting. Cosanti Commons is expected to cost $90 million, which is slightly down from the proposal of $100 million when the project went in front of the DRB, according to Berry’s presentation to the planning commission.

The name Cosanti Commons is a nod to the Cosanti Originals art gallery in Paradise Valley that was built by renowned Arizona artist and architect Paolo Soleri. Artwork from Soleri will be visible throughout the new site. There will also be collaborative space that the Cosanti Foundation will use for retail and exhibition space in the new building, Berry said at the April 24 meeting.

DPC Cos. is partnering with High Street Residential, a wholly owned subsidiary of Dallas-based Trammell Crow Co., to develop the apartments, which will replace an existing multitenant commercial building located on the 8.5-acre site. Minneapolis-based ESG as the architect and Sustainability Engineering Group as the civil engineer.

The project will also retain the 79,200 square feet of another existing commercial building at the site, which is home to coworking space Mattison Avenue Salon Suites and retailers such as Beginners Edge Sports Training, Just Be Yoga and more.

The site for Cosanti Commons is located near a Safeway grocery store and the Village at Shea shopping center, which is home to Harkins Theatres and several restaurants. Last fall, Ryan Cos. opened the Acoya Shea luxury senior community near the southeast corner of the Scottsdale Road and Shea Boulevard intersection.