By Sammy Williams for AZBEX
Empire Residential Communities Fund IV, LLC (The Empire Group) of Scottsdale plans to develop 17.36 acres located south of the SEC of 53rd Avenue and Olive Avenue in Glendale. The gated residential community, named The Village at Olive Marketplace, features 208 casita-style, single-story homes.
“The Village at Olive Marketplace combines the best elements of a traditional single-family community with multi-family-like lease terms and management. The combination of these elements creates a desirable residential option with indoor/outdoor living areas maintained by a professional management company, without the mortgage payment or HOA fees of a typical single-family development,” the developer said in a statement.
The Village at Olive Marketplace will contain a mix of one-, two- and three- bedroom units, with the one-bedroom units attached in a duplex style. The residences range in square footage from 655 to 1313 SF and include a private, approximately six-foot high masonry rear yard wall with a minimum depth of eight feet.
With the majority of the predominately detached residences containing no more than one dwelling unit per building, the developer aims to create a “single-family subdivision” feel throughout the neighborhood. Community members will enjoy a wide variety of amenities, including a swimming pool and hot tub, shaded seating areas and a dog park.
The Village at Olive Marketplace is anticipated to appeal to, “retirees, empty nesters, young professionals, millennials, and others seeking another choice in Glendale for a unique, pedestrian friendly, and maintenance-free lifestyle that offers the independence and privacy of a single family community without the maintenance obligations of homeownership,” according to the developer’s description.
Before Glendale residents could start packing their moving vans, however, the developer needed to obtain the City of Glendale’s approval to rezone the vacant site from commercial to residential.
“This makes sense given the site’s infill nature and inability to develop as a sustainable commercial development,” the developer said in their application. “Challenges to developing the site under its current designation and zoning are its location, size, and sizable amount of existing commercial developments in the area with better visibility.”
The zoning change was approved at Glendale’s June 25th City Council meeting. In order to facilitate the zoning change, direct access to Olive Avenue was provided.
According to The Empire Group in an email to BEX researchers, construction is anticipated to begin in January 2020.
Empire Residential Communities Fund IV, LLC of Scottsdale is the developer and owner of The Village at Olive Marketplace and Felten Group is the architect. McGough Adamson of Mesa is the landscape architect and civil engineering services are being performed by Terrascape Consulting. Lifestyle Home Investments is general contractor.