Ritz Groundbreaking Could Come In January
Now that voters have given the green light for a Ritz-Carlton resort hotel in Paradise Valley, groundbreaking is expected in January. And the hotel could open as early as fall 2010.
Voters Tuesday overwhelmingly approved Proposition 411, paving the way for the Ritz-Carlton, Paradise Valley, the second Ritz-Carlton in the Valley.
With all precincts reporting, unofficial results showed passage by a 2-to-1 ratio – 4,371 votes in favor to 2,166 opposed.
Supporters, including Mayor Vernon Parker,celebrated Tuesday night at a sprawling private residence built by Scottsdale-based Five Star Development which will build the Ritz-Carlton.
$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 New Homes Too Big? Zoning Changes?
Paradise Valley planners will meet to consider size of new homes…
The Arizona Republic reports that the Paradise Valley Planning Commission will have a work-study session today to discuss limiting the size and impact of the large Paradise Valley luxury homes being built, especially in older neighborhoods.
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.