By AZRE | AZ Big Media
Five Star Development and the Town of Paradise Valley reached a mutual settlement agreement today resolving the legal dispute pertaining to the costs of the underground drainage structures and street improvements on the future site of the luxury master-planned development of The Palmeraie.
Both parties have chosen to work together to enhance and renew their relationship in advance of the development’s upcoming opening. This is one of the most ambitious undertakings of a luxury master-planned community to ever exist in the Southwest.
“We are pleased to collaborate with the Town of Paradise Valley under Mayor Jerry Bien-Willner’s leadership in order to put this issue behind us and move forward with a renewed sense of alignment as we near the opening of the first phase of The Palmeraie, a cornerstone of our $2 billion development, in 2022,” said Jerry Ayoub, president of Five Star Development.