November 17, 2024 9:47 am
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Mountain Shadows renovation likely to increase property values

Mountain Shadows Resort and Golf
Mountain Shadows Resort and Golf

By Philip Haldiman | The Arizona Republic

As the Mountain Shadows resort in Paradise Valley has inched closer to redevelopment in recent months, experts say nearby property values will increase with the revitalization.

Real-estate agent Walt Danley, who specializes in luxury homes in Paradise Valley, said there has always been a strong belief that something positive would happen with the resort, so the consensus has been that the property wouldn’t remain an eyesore forever.

And as a result of recent developments, he said, interest in the nearby residences has been percolating.

The two adjacent developments, Mountain Shadow East and West, saw three transactions close in the first six months of 2012. By comparison, Danley said, eight closed in the same time this year. Four properties are in escrow.

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