AZRE | AZBigMedia
Five Star Development – builder of The Palmeraie luxury community and accompanying Ritz-Carlton, Paradise Valley – has filed suit against the Town of Paradise Valley in Arizona Superior Court.
The legal action is the culmination of months of attempted coercion on the part of Paradise Valley officials, who seek to disregard the terms of a 2016 development agreement in order to force Five Star Development to pay millions of dollars in new and unstipulated infrastructure costs. No coincidence, the Town’s pressure campaign comes as its operating revenues are down an estimated 40% and it faces a potential $10 million reduction to its General Fund in the coming year.
