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Multifamily Developer Plans 27-Acre Project

SCOTTSDALE, AZ-After a year in escrow, Trillium Development closes on acreage at the northeast corner of 7th Street and Loop 101. The $8.2-million tract will be built out with a class A, garden-style complex with 400 to 500 units.

By Jennifer D. Duell | Updated on November 02, 2004

SCOTTSDALE, AZ-Trillium Development is planning to develop a class A, garden-style complex with 400 to 500 units on 26.8 acres, which were bought for $8.2 million after a one-year hold in escrow.

“Trillium held the land in escrow while it was being rezoned,” says Patrick Dempsey with Phoenix-based Lee & Associates Arizona. He and partners Jan Fincham and Kevin Kopp brokered the sale for Alice McDurmon-Roles, a local investor who had owned the northeast corner of 7th Street and Loop 101 since the mid-1980s.

“There were dozens of people competing for the land,” Fincham says. “It sold for the list price.”

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