Scottsdale-based Five Star Development has announced its plans to develop a mega retail and dining destination, The Palmeraie, strategically located in the heart of Scottsdale. The project is connected to the $2 billion Ritz-Carlton, Paradise Valley master-planned community.
The initial phase of The Palmeraie encompasses approximately 160,000 square feet of high-end, mixed-use space on 18 acres at the corner of Scottsdale Road and Indian Bend, bordering the Town of Paradise Valley, according to a press release.
Home to more than 60 exceptional luxury and specialty boutiques, The Palmeraie will also incorporate a variety of dining destinations lead by local and international chefs. A future phase is expected to include a selection of collectible luxury residences, a best-in-class gourmet grocery store and food emporium, and a boutique hotel.