By Terrance Thornton | Scottsdale Independent
The trapped value of land where the iconic Mountain Shadows Golf Resort once stood may soon be realized by a joint venture between West Roc Hospitality and the Woodbine Development Corp.
Rod Cullum, owner of Cullum Homes, at the Jan. 24 McLarens, Martinis & Models at The Village at Mountain Shadows event announced the dual effort bringing a top-flight resort product to the Mountain Shadows property.
Crown Realty & Development Senior Vice President of Property Acquisition Rick Carpinelli has confirmed the deal is done and a luxury resort will be built and operated through a 50-50 partnership between West Roc and Woodbine.
The duo is expected to close escrow in late January on the resort portions of the Mountain Shadows property on the southwest corner of 56th Street and Lincoln Drive, according to Crown Realty officials.