This article originally appeared in the Phoenix Business Journal.
Stockdale Capital Partners LLC, a Los Angeles-based real estate investment firm with a rapidly growing presence in metro Phoenix, has received zoning approval for a boutique apartment complex in downtown Scottsdale.
Plans call for building a $25 million, 3-story structure that would include 54 units atop a podium which covers at-grade parking on a 1.2-acre parcel on Indian School Road and Fifth Avenue, said Jason Morris, partner with Withey Morris who handled the zoning case that garnered 4-3 approval on Aug. 24. The ground floor would include 900 square feet for a small retail operator, such as a coffee or juice kiosk.
To be called Canalside, the property sits on an odd-shaped site that backs up against the canal and a Salt River Project substation, Morris said. Read more…