Local hoteliers announce $65M Mountain Shadows resort

By Terrance Thornton | Scottsdale Independent

A deal has been finalized between Westroc Hospitality, Woodbine Development Corp. and Crown Realty & Development for the creation of a $65 million luxury resort and 18-hole golf course where Mountain Shadows Golf Resort once stood.

The property now under development is at 5517 E. Lincoln Drive in the Town of Paradise Valley.

Crown Realty & Development Senior Vice President of Property Acquisition Rick Carpinelli says the sale of all but 11 acres of property at Mountain Shadows emerged from escrow Feb. 20.

Mr. Carpinelli says the $10.5 million does not include an 11-acre portion of property, which Crown Realty is retaining for future development.

Continued:

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February 26, 2015

Crown Realty & Development, Lincoln Drive, Mountain Shadows, Paradise Valley, resort, Westroc Hospitality, Woodbine Development Corp.

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