PHOENIX—Investment Property Associates celebrated the grand opening of its first multifamily development in Scottsdale with a ribbon cutting ceremony at Liv North Scottsdale.

The luxury apartment community is situated on 5.83 acres near the corner of Scottsdale Road and Greenway Hayden Loop in North Scottsdale. IPA co-developed the property with PB Bell & Associates.

Scott Brooks, a partner with IPA, tells GlobeSt.com, “Our tenant profile will be young professionals, because of the strong job market, and some empty nesters. The key attractor is the walkability and there is not a lot of that in Phoenix. It's cool to have great restaurants and shopping right across the street. Community is important to us, so we do like to have people here who use this as their primary residence. We are not just providing apartments—this is not transient. We want a place where you can get to know your neighbors, just like in and older, single-family home community.”