A month ago on November 4, 2008, Paradise Valley special election results approved a new Special Use Permit to Five Star Development Resort Communities, L.L.C., who are the developers of The Residences at The Ritz-Carlton, Paradise Valley. The almost 2-1 decision in favor of The Ritz, allows for the rezoning of land to build a 110 acre residential resort community in the heart of Paradise Valley and Scottsdale.
The purpose of this article is not to get into a discussion or voice an opinion of whether the results are going to be good or bad for the town of Paradise Valley. The intention is to provide information about the development and what The Ritz-Carlton, Paradise Valley is going to offer its residents.
The Ritz-Carlton, Paradise Valley is tentatively scheduled to start construction the summer of 2009 and be completed in 2010. The Residences will be the first of its kind in the world to be entirely branded and serviced by The Ritz-Carlton, including a 225-room hotel, 25,000 sq. ft. spa, and residential development that includes villas, luxury homes and one-acre estate lots.
The two and three bedroom villas will range from 2,200sf – 3,000sf with 30 to be released in the first three weeks. The plan calls for a total of 88 villas by completion. A total of 46 estate homes are to be built with eight released in the initial weeks along with 12 of the one-acre home sites. Prices are currently being determined, but will try to be in line with the current market and incentives will be offered to early registrants.
The Residences will be located between Indian Bend Road and Lincoln Drive to the North and South, and Mockingbird Lane and Scottsdale Road to the East and West. Being in the prestigious Paradise Valley, neighboring homes within a mile radius range anywhere from the $130,000’s for condominiums to over $10 million for acre estates. So, by living at the Ritz Carlton, Paradise Valley you will be surrounded by luxury in more ways than one.
All residents will have membership in The Ritz-Carlton Residences Program, including full access to resort services and amenities, including concierge, room service, spa, fitness center, housekeeping, and maintenance. The Residences will also provide an array of retail shopping and restaurants that are unique to the United States, making it a truly one of a kind experience and a world destination.
For more information (floor plans, site maps, etc.) and to set up a personal tour of the property before it’s introduced to the public, please contact me.
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To find out more about Paradise Valley or Arizona Real Estate
Call 480-540-2291 or visit: www.AZintheValley.com
Copyright © Andy Zeal “Passing of Prop 411 – Welcome Ritz-Carlton Paradise Valley”
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