Voices Heard On Prop 411
The debate surrounding the construction of the new Ritz-Carlton Hotel and master planned community in Paradise Valley was settled November 4 after voters passed Prop 411. Approving the town council’s decision to issue a special use permit, the ballot measure passed 67 percent to 33 percent, a margin of 2 to 1, according to results.
David Schmid Vice President of Development with Five Star Development, the company developing the project, is excited that the project was approved and that they can move forward after nearly a year in delays. “We’re delighted.” said Schmid. “We knew we had broad support from the town council, planning commission, our neighbors in the area, and the community at large, but we’re still very happy it passed.”
$1.5 Billion Ritz-Carlton Resort Approved In PV
The Paradise Valley Town Council unanimously approved its portion of the $1.5 billion proposed Ritz-Carlton resort and residential community Thursday.
Scottsdale-based Five Star Development plans to build the ultra-upscale complex on 123 acres southwest of Indian Bend and Scottsdale roads. The project spills about 16 acres over the town’s border into Scottsdale.
A new boutique urban hotel brand, Edition, is planned for the Scottsdale portion. It will be one of the first sites for the new brand — a collaboration of Marriott International Chairman Bill Marriott and Studio 54 and Morgans Hotel Group co-founder Ian Schrager.
Paradise Valley Ritz-Carlton On The Way
The Ritz-Carlton is planning a $400 million resort in PV that would include 321 homes, villas and condos built around a hotel and its 225 casitas. The development would go on 120-acres bounded by Lincoln Drive, Indian Bend Road, Mockingbird Lane and Scottsdale Road. They hope to open the resort by 2009.
Giant PV Homes
Mansions are changing the character of Paradise Valley neighborhoods…
The Arizona Republic reports that Paradise Valley officials are hearing increasingly from residents who are upset with new office-sized houses built on rural lots once filled with low profile ranch-style houses. Residents are upset not only about losing their scenic views, but from losing the character of their mature neighborhoods and the loss of natural desert vegetation which all of us who have lived here for awhile cherish to the fullest.
Major PV Land Purchase
A resort firm recently bought land in Paradise Valley, AZ for $74 million. The Arizona Republic reports that Marriott International has purchased the 120-acre parcel of land at the northwestern corner of Lincoln Drive and Scottsdale Road from the Sinclair Oil Company for $74 million and is now deciding what to do with it.
Original Paradise Valley Estate
The site of the former Herberger family home in Paradise Valley Arizona is slated for a 10-lot single family residential development. This is one of the larger subdivisions left in Paradise Valley and naturally will be in high demand. The development, which is slated to be called Invergorden Manor and is located on 12-acres of prime Paradise Valley real estate near Invergorden and Jackrabbit roads.