When it comes to the epitome of luxury living, Paradise Valley, Arizona, is undoubtedly at the top of the list. Recently, a groundbreaking project has captured the attention of discerning individuals seeking the ultimate in upscale living. The highly anticipated collaboration between Ritz-Carlton and Fendi, set against the stunning backdrop of Paradise Valley, has achieved a significant milestone by securing its financing.
Experience Unparalleled Luxury: Ritz-Carlton Paradise Valley Set to Open by Year-End
In the heart of the highly anticipated $2 billion Palmeraie development, a haven of luxury is taking shape. The Ritz-Carlton Paradise Valley, alongside Fendi-branded private residences, high-end retail, and gourmet dining, is poised to welcome guests and residents by the close of this year.
Five Star Development, the visionary behind the 122-acre Palmeraie project, recently secured a significant $585 million loan from Madison Realty Capital to bring this exceptional vision to life. This financing marks the final piece of the puzzle needed to complete the development, marking a momentous step towards its grand unveiling.
The Jewel of Paradise Valley
Situated near the intersection of Lincoln Drive and Scottsdale Road, this sprawling project encompasses both Paradise Valley and Scottsdale, offering an exclusive blend of natural beauty and sophistication. With approximately 80% of the project already realized across its expansive acreage, the resort’s grand opening is on the horizon, with certain elements poised for an earlier debut.
The inaugural collection of Ritz-Carlton Villas, elegant condominiums within the development, has been completed and will soon be ready for occupancy. Comprising 80 single-story villas, all of which have been swiftly claimed, and 32 Ritz-Carlton branded “estate homes,” with half already reserved, this enclave sets new standards for luxury living.
This fall, a captivating sales campaign will commence for 52 luxury for-sale residences, meticulously branded by Fendi, the renowned Italian luxury fashion house. These exceptional homes, yet to be officially listed, are sure to capture the imagination of discerning buyers.
Luxury Beyond Measure
The retail and culinary aspects of the development are currently undergoing design review with both Paradise Valley and Scottsdale. Spanning approximately 20 acres in Scottsdale, the initial phase will encompass an impressive 46,000 square feet of restaurants, 98,000 square feet of office space, and around 133,000 square feet of upscale shopping. While specific retail and restaurant brands are yet to be revealed, rest assured that the area will boast “ultra-luxury retail and dining.” The shopping district is designed to blend seamlessly with open-air retail spaces around a vibrant central green area.
This visionary project has been in the making for years, initially gaining approval in Paradise Valley back in 2008. Progress was temporarily halted by the challenges of the Great Recession, only to reemerge in 2015. Legal disputes regarding underground drainage and infrastructure costs further delayed the project. However, its triumphant return to the forefront of luxury living is now imminent.
Embrace the Future of Luxury
As the Ritz-Carlton Paradise Valley nears its completion, it beckons those with a taste for the extraordinary. Whether you seek a serene residence or an investment opportunity in the lap of luxury, this development promises an unrivaled experience. Stay tuned for further updates on this opulent masterpiece, poised to redefine upscale living in Paradise Valley and Scottsdale.
Contact Francesca today to explore the world of opulence that awaits at the Ritz-Carlton Paradise Valley and secure your place in this luxurious haven.
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