By Terrance Thornton for Scottsdale Independent
A deal has been finalized between Westroc Hospitality, Woodbine Development Corp. and Crown Realty & Development for the creation of a $65M luxury resort and 18-hole golf course where Mountain Shadows Golf Resort once stood.
The property now under development is at 5517 E. Lincoln Drive in the Town of Paradise Valley.
Crown Realty & Development Senior Vice President of Property Acquisition Rick Carpinelli says the sale of all but 11 acres of property at Mountain Shadows emerged from escrow Feb. 20. He says the $10.5M does not include an 11-acre portion of property, which Crown Realty is retaining for future development.
Plans call for construction to begin this August on a full-service boutique resort featuring 180 guest rooms in a two-building complex, an adjacent building containing 31 hotel–condominium units, and a corner neighborhood market to be coined “Lincoln Market.”
The Mountain Shadows Golf Course, an 18-hole course well-suited for today’s golfers, will be rehabilitated as part of the project. Developers intend to retain the Mountain Shadows name when the new resort opens in December 2016.
Paradise Valley officials have confirmed plans have been submitted and approved for construction to commence this summer.
Shadows on the horizon
Cullum Homes has been the first to break ground — building a community to be known as The Village at Mountain Shadows — at the resort site at 56th Street and Lincoln Drive in the Town of Paradise Valley.
A subsidiary of Scottsdale-based Cullum Homes purchased the 40 residential lots — just over 9,500SF with a value of $575K per lot — with intentions to ceremonially break ground Monday, Sept. 8. Mr. Cullum says sales continue to surge at the Village at Mountain Shadows.
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