By Brandon Brown | Phoenix Business Journal
Officials from the town of Paradise Valley say a lawsuit filed against the municipality by the developer of a $2 billion master-planned community, not only has no legal basis, but is allegedly an attempt to change the terms of the development agreement.
Five Star Development, which is building the Palmeraie luxury community and accompanying Ritz-Carlton, Paradise Valley, filed its lawsuit in Arizona Superior Court on June 25. In a response, Paradise Valley Town Manager Jill Keimach said the town’s goal is to “protect the best interests of our residents and to abide by the agreements we have in place to bring this project to fruition.”
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