REAL ESTATE
NEW DEVELOPMENTS COME TO NORTH PHOENIX AND NORTH SCOTTSDALE
N
ationwide Realty Investors’ 134-acre mixed-use Cavasson development in Scottsdale, Arizona is continuing to see new tenants and development. Cavasson is located along Loop 101, at the southwest corner of Hayden Road and Legacy Boulevard in Scottsdale. The initial phase of the project will include several commercial office buildings including the new 460,000 square-foot regional headquar-
ters building for Nationwide Insurance, multifamily apartments, a six-story parking structure, retail and restaurants, two hotel sites and significant infrastructure improvements.
Reflective of its surrounding landscape, Cavasson will be highly designed and beautifully landscaped. The project’s mix of uses will include approximately 1.8 million square feet of market leading commercial office space, 1,600 multifamily units, hotels, retail, restaurants, services and amenities. The walkable community will include tree-lined sidewalks, bike paths, green spaces and community gathering places with ample parking. The project will include an infrastructure investment of approximately $30 million—delivering new roads, sidewalks, improved connectivity and flood mitigation improvements which will benefit the property and significant acreage surrounding the development.
Serving as Cavasson’s first anchor tenant, the new 460,000-squarefoot Nationwide Insurance regional headquarters building will house approximately 2,200 associates with room to grow. The five-story, worldclass facility will allow the company to bring more associates and like business operations together to create efficient and collaborative work environments and align business units in an effort to better serve the needs of both the company’s policyholders and its associates. Nationwide plans to move its associates into the new building in late 2020.
In September of 2018, Nationwide Realty Investors purchased the 134acre site for the Cavasson development at state auction. Proceeds from the purchase went to the Permanent Land Endowment Trust Fund, designated for the benefit of Arizona K-12 public education. Cavasson is owned and developed by Nationwide Realty Inves-
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12 • February 2020 • SCOTTSDALE NORTH NEWS
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Tallinn at Desert Ridge is slated to include approximately 83 single-family homes, ranging from approximately 2,318 to 3,738 square feet, in Phase 1 of development. Floorplans at Talinn are expected to mirror those that are available at another one of Shea Homes’ developments — Emblem at Aloravita in Peoria. The community will also include a large community park and a rec center. Phase 2 is expected to include an addition 54 lots by late 2020.
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Another new development, Talinn at Desert Ridge is 25.06 acres of land at 56th Street and Deer Valley Road. Shea Homes purchased the property late last year and construction of model homes is set to start in the latter half of the year.
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