When Scottsdale’s new office tower comes online, it will bring new challenges for developers
Scottsdales new office building will not only serve as a workplace for its workers, but also a source of revenue for the city.
The project, which is currently being designed and is set to open in mid-2019, is part of the Scotts Valley Economic Development Corporation’s (VCEDC) plan to revitalize the region’s industrial core.
The VCEDC, which includes the Scotters Office Building Company and the Arizona Diamondbacks, has been working for years to find a site to build its office tower.
Now, the project is set for completion and will begin operations in 2019.
The site, known as the Scotteridge Landing development, is located near the Scotty Springs metro area and is located just west of Interstate 10 in Scotts Canyon, according to a news release.
The company has leased the land for the project from the city of Scotts, and the city’s Board of Supervisors approved the project in December, and plans to receive the first $5 million in federal tax incentives to complete the project.
The Scotts’ Office Building, which opened in July 2019, is currently a high-rise building that spans approximately 100,000 square feet and is slated to be the tallest office building in the state, with a planned completion date of mid-2028.
The tower is expected to employ roughly 300 people, according the VCEDCs website.
In addition to the $5-million tax incentive, the company has also committed to paying the city $2.5 million toward the cost of the project, with the remainder to be paid over the next five years, according VCEDc.
In order to complete construction of the building, the city has committed to constructing three additional floors, with completion slated for 2026.
The first two floors will include a mixed-use project.
The third and fourth floors will be for office space, with construction slated to start in 2020, according with the project’s website.
The building’s first floor, called the “main office” will feature a rooftop pool and a retail plaza.
The third floor will house a hotel, a restaurant, a spa, a health spa, and retail space.
The fourth floor will include residential, office, and hotel-style apartments, the VCESC said.
The total cost of construction of a total of 21 floors is estimated at $18.5 billion.
The project will create more than 1,300 permanent jobs, according for the website.
“The Scotters’ Office is a unique opportunity to transform Scotts valley’s industrial and commercial heart,” Scotts County Mayor Steve Kline said in a statement.
“It will serve as an economic engine for the entire region, including Scotts Creek, Scotts Springs, and other surrounding areas.”
Scotts County has a population of more than 30,000 people.
The county is the state’s eighth-largest with an unemployment rate of 8.1 percent, according census data.
Scotts Valley’s downtown is a popular destination for visitors to enjoy the desert, with more than 7,000 hotels, casinos, restaurants, retail stores, and entertainment venues, according in a news report.
The news release said the city and the VCEC hope to see the project “accelerate the development of Scotters economic center and support the region and Scotts county’s continued development.”