Ritz-Carlton Paradise Valley
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Five Star Development is proud to announce today that it has achieved more than 50 percent sold and exceeded over $160 million in luxury real estate sales at The Estate Homes, the second residential offering within The Ritz-Carlton Residences Paradise Valley, The Palmeraie.

Amongst the highly sought-after, 32-home gated enclave, more than half of the residences are now under contract, all averaging a sales price of approximately $10 million. Construction on the Estate Homes is currently underway, with first homeowners expected to move in at the time of the resort’s opening later this year. The Villas, the development’s first residential offering encompassing 80 condominium-style residences that are branded and fully serviced, sold out prior to 2022 totaling $285 million in real estate that is slated to be completed by this summer.

Priced from the low $7 millions, don’t miss your chance to build your own dream estate and be part of what will soon be the pinnacle of sophisticated living in Arizona.

Source: https://www.facebook.com/theritzcarltonresidencesparadisevalley/photos/a.439347379787373/1914598518928911/

We have some updated info for you since our last Ritz-Carlton, Paradise Valley Construction Update. In addition to the new photos below, we have some updated info on sales progress. Additionally, we know that the rollout of the sales program for the FENDI Private Residences is coming. Currently, the Sales Center aka Residence Gallery is transitioning to FENDI and is slated to have its grand opening in February.

As far as sales progress, the multi-billion-dollar resort project has over $280 Million in contract for The Villas and approx. $150 Million in sales at The Estate Homes. In addition to the guard house, there are three Estate Homes currently under construction.. Four more Estate Homes are expected to break ground in January 2022.

Source: https://williamsluxuryhomes.com/ritz-carlton-construction-update-paradise/

The Ritz-Carlton, Paradise Valley promises to be one of the finest resorts of its kind ever built in Arizona. The design of the hotel will employ simple, elegant forms to create relaxed, comfortable spaces in the time-honored tradition of luxury architecture. The stunning Grand Lobby, situated above the rest of the hotel overlooking Camelback Mountain, will greet guests with a water feature that cascades down through the property to a world-class spa.

Source: https://iconprivateresidences.com/ritz-carlton-residences-paradise-valley-scottsdale-arizona

Looks like the legal issues with the contractor are now resolved.

Peace has come to The Palmeraie, a $2 billion Ritz-Carlton Paradise Valley resort project on the Scottsdale border that had been threatened by $60 million in liens filed by the lead contractor. Developer Five Star Resort and Utah-based Layton Construction issued a joint statement saying “both parties have amicably resolved all issues between them related to the Paradise Valley Ritz-Carlton Resort Project.”

Less than nine months ago, Layton had on file with the County Recorder liens totaling $46.7 million for non-payment and 23 subcontractors that provided painting, roofing and HVAC work had filed 35 separate mechanic’s liens totaling $17.2 million.According to the liens, Layton signed contracts worth up to $259 million in 2016 and 2019 with Five Star Resort Owner LLC to construct the hotel and villas and perform associated site work.

Source: https://www.scottsdale.org/news/contract-peace-achieved-for-2b-resort-project/article_3a671aba-6c02-11ec-bcf8-63ce88bcb8fd.html

The drone shots are really quick so the screengrabs aren't the clearest but this place is looking great.

The same guy posted another video on the same day.

No good screengrabs but a peek over the fence at current construction.

Lastly, there are more CONSTRUCTION WORKERS on site than it may appear. This is a massive development sprawled out over approximately 122 acres. We literally came across 10 workers deep inside the primary hotel. It’s truly fascinating.

Source: https://williamsluxuryhomes.com/construction-ritz-carlton-paradise-valley/

Not a new article but a new image I hadn't seen before of the masterplan model.



Source: https://www.yourvalley.net/stories/scottsdale-developers-push-boundaries-of-paradise-valley-ritz-carlton-heights,90730?