Scottsdale approves $300M Museum Square project

Real Estate | 20 Oct |

The Scottsdale City Council unanimously approved plans for the acclaimed Museum Square development in Old Town on Tuesday night. It was an achievement that led even one Councilwoman, Linda Milhaven, to call the project “historic”.

The Scottsdale Council voted 7-0 to approve the development and parking plans for Macdonald Development Corp. to build a $300 million mixed-use project that will rejuvenate a 7.34-acre city parcel at Goldwater Boulevard near Marshall Way adjacent to Old Town’s Arts District.

The property is currently an abandoned transit station at the southern tip of Old Town Scottsdale.

Museum Square will bring new life to the property with a new hotel, restaurants and residential units. The project is adjacent to and will complement the Museum of the West and other nearby businesses.

Macdonald Development is buying the land from the city of Scottsdale for approximately $27 million. The development will also provide $8 million in construction sales tax revenue and generate $1 million annually in tax revenue for the city.

There were 20 speakers in favor of the Museum Square deal at the Scottsdale City Council meeting last night after extensive public outreach and creative solutions with nearby merchants. No speakers opposed the plan, a notable achievement for a project with the profile of Museum Square.

“We would like to thank the Scottsdale City Council and the entire community for the overwhelming support for Museum Square. We worked with the city, residents and business to come up with a win-win deal that will pump new energy and economic activity into an important Old Town Scottsdale property. We are excited to move forward with the next chapters of this project,” said Rob Macdonald, owner, founder and president of Macdonald Development Corp.

Gallery owners, Scottsdale Fire Fighters Association, the Museum of the West and GreasePaint Theatre among many others supported Museum Square and its benefits for Old Town and the city of Scottsdale.

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