Origin and Mill Creek Plan 190-Unit Modera Old Town Apartments in Scottsdale

Origin Investments and Mill Creek Residential have unveiled plans for Modera Old Town, a 190-unit apartment community in Old Town Scottsdale, Arizona. Construction is set to begin in October, with delivery slated for mid-2029.

The project sits on roughly 2 acres at 7120 E. Indian School Road. It will include 73 one-bedroom, 101 two-bedroom and 16 three-bedroom units averaging 1,076 square feet. Interiors will feature quartz countertops, vinyl-plank flooring, full-size washers and dryers, private patios or balconies, and smart home features.

Amenities include a resort-style pool with cabanas, an outdoor kitchen, a fire-feature grilling area, a resident clubhouse, a fitness center and coworking spaces.

The development is the second collaboration between the two firms and an extension of Mill Creek's Modera brand. For Origin, it is the final investment in its Opportunity Zone Fund III and its 22nd opportunity zone development overall. For Mill Creek, it is its 12th opportunity zone project.

For developers and lenders, the deal shows continued use of opportunity zone capital to fund Phoenix-area multifamily construction in an established urban core.