Cooper’s Corner: $2B Ritz Carlton Paradise Valley FINALLY a GO

Like many Paradise Valley residents, you might have been wondering the status of the on-again, off-again $2 Billion planned Ritz Carlton and adjacent The Palmeraie shopping center and villas. Well, after clearing some final permitting issues of Paradise Valley construction is now in full swing with an expected opening date fall 2019…if that date doesn’t get pushed back…again.

The new 122 acre development sits on the west side of Scottsdale Road, north of East Lincoln Drive, South of E Indian Bend Rd and East of N 68th Street. The new property will include a new 5-star Ritz Carlton 205 room luxury resort hotel with a centerpiece 400 foot long pool – one of the largest pools in North America.

On the same property will include 160 luxury private residences for sale. These are separated in two areas: AZURE which includes 66 residences on the Northwest corner near N 68th and Indian Bend Road starting at $2M+ and RITZ-CARLTON which includes 94 residences on the Southwest corner near N 68th and Lincoln Drive starting at $4M+. Please call or text me at (480) 980-9850 if you are interested in learn more about these…

As an alternative to buying these new Ritz Carlton homes, there is a great community close by that contains 56 single-story homes in a guard-gated community that typically sell around $1M+ which would be within walking distance to this new Ritz Carlton development and community and a potentially great investment opportunity. Please call or text me at (480) 980-9850 if you would like to learn more about these homes…

In addition to the hotel and Villas a new shopping center called The Palmeraie is expected to house more than 60 high-end retailers and world-class restaurants. My contact at STK steakhouse in Las Vegas last told me one of these restaurants will likely include them as well. The people involved with The Palmeraie have a history of bringing in such luxury names as Hermes, Dior, Celine, Brunello Cucinelli, Etro, Alice & Olivia, Christian Louboutin, Jimmy Choo, Saint Laurent, and many others so if you like to luxury shop, expect good things!  Which brings us to the luxury expansion currently underway at the Scottsdale Fashion Square Mall – which is courting many of these same luxury names. The mall currently attracts millions of visitors a year and generates around 71% of downtown Scottsdale’s sales tax. So how much luxury shopping is too much luxury shopping for one area? Time will tell…

The Palmeraie Paradise Valley

So now you are up to speed on this new and exciting development in Paradise Valley which the mayor has referred to as “The next crown jewel for us in the neighborhood.” In addition to providing us with a great new neighborhood jewel, it should also help improve the overall living and attraction to the area as well and in real estate, this is typically good news for local home owners. So please call or text me if you would like to learn more about how to take advantage of this unique opportunity at (480) 980-9850!

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