As of today, plans for a Ritz-Carlton property to be built in Paradise Valley have yet to be finalized, even though its original concept was approved in 2008. Following a forced referendum and 2009's economic recession, the project was put on hold until a later day. Seven years later, reports are beginning to spread again that the hotel’s plans have been revived.
Five Star Development was said to have submitted their formal proposal at the end of last month to get an approval for a 2016 construction commencement date. From there, they hope to have the property built by the fall of 2017.
According to AZ Central, the hotel will be built on the northwest corner of Scottsdale Road and Lincoln Drive and will include a residential community and retail complex. As of now, they are estimating a $125-million cost to build its 225 rooms, a men’s club, two pools and a poker room. With its unobstructed views of Camelback Mountain, the area is also mapped out to include detached single-family homes, with 50 of them being under the Ritz umbrella and 85 to 100 non-branded properties.
But this is all heresy until the green light is given; so for now, we sit and wait. Again.