‘Renting is new buying’: Apartments booming in Scottsdale

A giant crane towers over the massive construction site for the final phases of the Scottsdale Waterfront in downtown Scottsdale.

Alliance Residential Co. is progressing ahead of schedule on Broadstone Waterfront, a 259-unit apartment complex with restaurant and retail space along Marshall Way. It also is ahead of schedule on Broadstone Lincoln, a 264-unit apartment complex northwest of Scottsdale Road and Lincoln Drive.

Scottsdale is leading the Valley in apartment development, said Tom Simplot, president/CEO of the Arizona Multihousing Association. He also serves on the Phoenix City Council.

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