Paradise Valley Town Council approved a $2 billion Ritz-Carlton community to be built that will include a Ritz-Carlton hotel, town homes and retail.
The project will include a 352,000 square-foot 200-room Ritz-Carlton hotel, along with 94 single-level villas ranging from 1,700 to 3,000 square-feet and 45 single-family homes ranging from 3,000 to 6,000 square-feet.
Located on the west side of Scottsdale Road between Lincoln Drive and Indian Bend Road, the entire 122-acre site owned by Five Star is situated in both Scottsdale and Paradise Valley and is the last large, undeveloped land parcel within these prestigious areas.
Five Star Development will build the community community. The homes will receive services from the hotel such as dedicated concierge, priority access to hotel guest accommodations, amenities and a la carte services such as in-residence dining and housekeeping.
The resort sits on 20 acres, and it plans to have North America’s longest pool at just over 400 feet. There will also be a 20,000 square-foot spa, with indoor and outdoor areas, a health and fitness center, a citrus orchard and a garden.
The hotel has more than double the standard amount of suites, at 40 percent, and rooms will be 35 percent larger than at other resorts.
Five Star Development also plans to build non Ritz-Carlton branded luxury townhomes, a retail component and underground parking as part of the 105-acre project.
“We are thrilled to finally bring the world’s best hotel brand to Paradise Valley and to create a luxury real estate offering that will be among the most sophisticated and sought-after in North America,” said Jerry Ayoub, president of Five Star Development.
An adjoining mixed-use component, The Palmeraie, is in the final planning stages along the Scottsdale portion of the site and is expected to include high-end retail, chef-driven restaurants, luxury residential and a boutique hotel.
Five Star Development will break ground on the project in spring 2016 with completion of the hotel and residences expected by the end of 2018. A priority interest list is currently being developed and the first release of homes is expected to be available for sale in late spring.
For more information or to join the interest list, visit www.rcpvluxury.com.