By Terrance Thornton | Independent Newsmedia
It appears all the pieces are falling into place for Crown Realty & Development to successfully gain a special-use permit to redevelop the dilapidated structures at 56th Street and Lincoln Drive once known as the Mountain Shadows Golf Resort.
A large majority surrounding of residents — a little over 100 homeowners on both sides of the resort property — have expressed support for the proposed tenets of development at the site while Paradise Valley officials say they are close to making public a new development agreement.
Paradise Valley Mayor Scott LeMarr says negotiations are still ongoing.
“We are not going to have another public hearing until the development agreement is made public, so everyone knows what the deal is,” he said in a Feb. 26 phone interview. “We have pretty much beat this SUP (Special Use Permit) into the ground.”
Negotiations between the Town of Paradise Valley and Crown Realty in terms of the development agreement — a financial document agreed upon by the developer in order to commence construction — is being created in executive session.
The redevelopment of Mountain Shadows will unequivocally include at least a 100-room boutique hotel, Crown and Paradise Valley officials contend.
Also: Scottsdale-based Spirit Realty Capital brings in $72.6 million
If you’d like to discuss real estate matters, contact RLG founder Jordan Rose, jrose@roselawgroup.com
