Ritz-Carlton Resort Gets Final Stamp of Approval

In Blog, Real Estate on January 25, 2016 by Community Expert Team
Ritz-Carlton Resort Gets Final Stamp of Approval

The Town of Paradise Valley put the final stamp of approval on the long-awaited Ritz-Carlton resort community at its meeting Jan. 14.

According to the Paradise Valley Independent, after hours of deliberation—including a possible reconsideration of the plans approved Dec. 21—the town council approved the development agreement with Five Star Development and the municipality.

“The approved development agreement speaks to tax revenues over the next 30 years, phasing of construction ensuring a hotel is built and identification of a luxury resort operator,” the publication said.

The development will include seven different phases and include branded villas, a retail center and single-family homes.

Construction is expected to begin in July 2016 with the resort opening in late 2018, the publication reported.

Read more here.

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This local update courtesy of your Paradise Valley Community Expert.

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