By Parker Leavitt for The Arizona Republic
A $175M hotel and residential complex called WaterView is the latest big-ticket development unveiled for Scottsdale’s bustling downtown district, situated along the Arizona Canal near Scottsdale and Camelback roads.
The project includes a five-story luxury hotel with 269 rooms, a rooftop pool and ground-level shops and restaurants along Camelback Road, across from the W Hotel and Scottsdale’s entertainment district.
A four-story apartment or condo community would run along the canal to the north behind the hotel, with a pedestrian bridge leading to the numerous shops and restaurants just a five-minute stroll away at Scottsdale Fashion Square mall.
Construction could start next year
Los Angeles-based developers Steven and Shawn Yari, who also built the W Hotel and redeveloped the Galleria Corporate Centre in downtown Scottsdale, filed plans for WaterView to city officials in November.
Their company, Stockdale Capital Partners, hopes to start construction in late 2016, Shawn Yari said. But the company must first seek city approval to rezone the 8-acre property, which was previously slated for a similar mixed-use development called Solis.
That project had also envisioned a hotel and condos on the land and proposed to move a Salt River Project electrical substation that currently sits next to the canal. Stockdale’s plan, however, wraps around the substation instead, according to city documents.
Residential complex with high-end amenities
The residential side includes about 240 units that could be sold as condos or leased as apartments. The complex features underground parking and a pool, spa, bocce ball court, outdoor yoga space and two-story fitness center along the canal.
Residential units range from an average of 511 square feet for the 28 studios to 1,384 square feet for eight three-bedroom units.
Read more at The Arizona Republic