Utah-based Chromatic Resorts wants to create a resort-based development with extensive waterways on 741 acres in Cottonwood.
In his presentation to the Cottonwood Planning and Zoning Commission and City Council, Chromatic Resorts’ Bruce Barrett explained the site is an Arizona State Trust Land parcel near Camino Real off SR 260. He explained the intent is to work with the Arizona State Land Department to divide the land and auction portions to eventually build a resort village with water recreation areas, residences and a range of amenities.
The vision for the $2B, 10-to-20-year plan features a total of approximately 3,700 residential units, with one-third as a resort, one-third as primary residences mixed between houses, condominiums and townhomes, and one third as short-term rentals or vacation homes. The plan also includes an affordable/workforce housing component targeting residents with household incomes of between $60K and $170K.
Amenities include an extensive series of waterways, publicly accessible water features with a surf park, parks and trails, retail space, and restaurant and entertainment outlets.
The proposal also calls for a community shuttle program covering transportation to area communities and to Phoenix and Phoenix Sky Harbor International Airport with the ultimate goal of eliminating the need for outside vehicles completely.
The driving vision, according to the presentation, is to drive tourism, recreation and amenities in the Verde Valley area while providing housing and tax revenue.
The issue of water use raised concerns for some of the members. Barrett said the planned features are not intended as a net consumer of water and there is a possibility of buying water rights from Friends of Verde River, collecting rainwater or using reclaimed water.
Members supporting the plan noted any land use will have a water component, and the proposal could ultimately have lower water use impacts than neighborhood developments or other uses.
Barrett explained that because the plan is so water focused, Chromatic Resorts would not be interested in pursuing the development without that component.
Members of both the Council and the Commission expressed their support that Barrett continues to pursue the project through what will certainly be an extensive review and approval process. (Source)