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Why this Scottsdale luxury developer is building $1B in apartments in metro Phoenix

Monday, November 15, 2021   /   by Juan Grimaldo

Why this Scottsdale luxury developer is building $1B in apartments in metro Phoenix

It's a busy time for Ian Swiergol.

The managing director for Scottsdale-based Alliance Residential Co.'s Southwest region has $500 million in apartments under construction and another eight projects totaling $600 million and about 2,500 units in the pipeline in metro Phoenix.

These plans come at a time as Alliance Residential is opening Broadstone Portland, a 161-unit luxury apartment community in the Roosevelt Row neighborhood of downtown Phoenix. Alliance paid $6.45 million for the 1.53-acre site in 2019, according to Tempe-based Vizzda LLC's real estate database.

While Alliance Residential is known for its luxury apartments with rich amenities, Swiergol is looking to build communities in the West Valley with more affordable options.

"So much of metro Phoenix is about affordability," Swiergol said. "Over the past 12, 18, 24 months, there has been a significant increase to the cost of living in our Valley. It's a function of supply and demand. There's been a significant increase in demand and not nearly enough supply, as evidenced by the increasing cost for single-family homes and for rent."

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By Angela Gonzalez, Senior Reporter - Phoenix Business Journal

The Grimaldo Group
Juan Grimaldo
2403 N Pebble Creek Pkwy #101
Goodyear, AZ 85395

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