FSD/RHCH – Ritz-Carlton Residences Paradise Valley – Arizona - Project Profile
"FSD/RHCH – Ritz-Carlton Residences Paradise Valley – Arizona - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.
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Five Star Development (FSD) and The Ritz-Carlton Hotel Company, LLC (RCHC) are undertaking the construction mixed-use community in Paradise Valley, Arizona, the US.
The project involves the construction of a mixed-use community on 49.3ha of land.
It includes the construction of a 32,701m2, 200-room hotel on 8ha of land, a grand lobby, 80 single-level Villas, 39 single-family Estate Homes, 5,016m2 of retail space, a pool, a 1,300.64m2 spa with indoor and outdoor treatment areas, a health and fitness center, indoor and outdoor meeting and event space, citrus orchard; herb garden harvested by the resort’s restaurants, walking paths, a grand lawn, 340 space parking and related facilities.
Mason Architects, Inc. has been appointed as architect, Layton Construction as a General Contractor and Coe & Van Loo Consultants, Inc as a Civil Engineer and Landscape Architect.
In March 2015, FSD submitted the revised plans to Paradise Valley Town Council.
On December 21, 2015, Paradise Valley Town Council approved special-use permit. FSD and RCHC signed an agreement for the development of the project on January 14, 2016.
In February 2016, Paradise Valley Town Council approved the project plans.
Groundbreaking for the development was held in January 2017.
In October 2017, FSD secured US$282 million in senior and mezzanine construction financing, which includes US$210 million senior land and construction loan with Bank of the Ozarks, and the US$72 million mezzanine financing with Starwood Property Trust, Inc. The Holliday Fenoglio Fowler, L.P.(HFF) team worked on behalf of the FSD, to place the funding.
The funding will be used to refinance an existing land loan and construct The Ritz-Carlton hotel and residences.
Construction activities are underway and slated to be completed in the fourth quarter of 2018.Scope
The project involves the construction of a mixed-use community on 49.3ha of land in Paradise Valley, Arizona, the US.
The US$2,000 million project includes the following:
1. Construction of a 32,701m2, 200-room hotel on 8ha of land
2. Construction of 91 villas
3. Construction of 40 single-family homes
4. Construction of 5,016m2 of retail space
4. Construction of a pool
5. Construction of a 1,300.64m2 spa with indoor and outdoor treatment areas
6. Construction of a health and fitness center
7. Construction of indoor and outdoor meeting and event space
8. Construction of restaurants
9. Construction of 340-parking spaces
10. Construction of other related facilitiesReasons To Buy
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