Highlights
- IDM Companies opened Meritum Sonoran Desert, a 348-unit apartment community at 31700 N 29th Avenue in North Phoenix, on June 16.
- Construction began in 2023; the project sits near the TSMC employment corridor, one of the metro's fastest-growing job centers.
- IDM, headquartered at 6720 N Scottsdale Rd, manages 9,720 apartment homes and has 900 units in pre-development.
- The project secured $62.625 million in financing, according to Real Estate Daily News.
IDM Companies, the Scottsdale-based multifamily developer headquartered at 6720 N Scottsdale Rd, opened Meritum Sonoran Desert on June 16, a 348-unit apartment community at 31700 N 29th Avenue in North Phoenix positioned to capture demand from the rapidly expanding TSMC employment corridor.
Construction began in 2023. The community offers one-, two-, and three-bedroom units and amenities including two pools, a fitness center, a resident clubhouse, a self-serve market, and pet-friendly spaces. A ribbon cutting took place at 2:30 p.m. as part of a Greater Phoenix Chamber-hosted grand opening celebration.
The project secured $62.625 million in financing, Real Estate Daily News reported. AZ Big Media covered the groundbreaking when construction launched in 2023.
IDM describes itself as a fully integrated real estate company operating across the Pacific Northwest and Southwest. The firm currently manages 9,720 apartment homes and has another 900 units in pre-development.
Who is behind Meritum Sonoran Desert?
IDM Companies, a Scottsdale-based real estate firm with offices at 6720 N Scottsdale Rd, Suite 190, is the developer and operator. The company focuses on multifamily apartments in the Pacific Northwest and Southwest and lists faith, respect, and integrity as its core operating values.
Available units and leasing information are at meritumsonorandesert.com.
Sources
Every factual claim in this article traces to one of the sources below. See how we work for the editorial process.
- phoenixchamber.com retrieved 16/06/2026 18:56
- business.phoenixchamber.com retrieved 16/06/2026 18:56
- realestatedaily-news.com retrieved 16/06/2026 18:56
- AZ Big Media retrieved 16/06/2026 18:56
Authored by The Scottsdale Signal. Drafted by AI from primary-source material under our beat-specific editorial guides; reviewed by humans before publish under our five-gate process. Sources retrieved at 16/06/2026 18:56. Every claim traces to a source.
