Skip to main content
search
CommercialNewsResidential

Scottsdale Approves $450M Mixed-Used Redevelopment Plan

By December 8, 2020November 14th, 2022No Comments

By Corina Vanek | Phoenix Business Journal

The Scottsdale City Council narrowly approved the planned redevelopment of the southeast corner of Scottsdale and Camelback roads known as the Scottsdale Collection at its (Dec. 7) meeting.

The project, planned by Los Angeles-based Stockdale Capital Partners, totals 10.25 acres of land, though not all will be redeveloped. In total, plans call for the project to include 580,451 square feet of commercial space and 512 units of residential. The site is adjacent to where Stockdale is already developing the Marquee office building at Scottsdale Road and Shoeman Lane.

Mayor Jim Lane and Councilwomen Linda Milhaven, Suzanne Klapp and Virginia Korte voted in favor of the redevelopment. Vice Mayor Solange Whitehead and Councilwoman Kathy Littlefield instead supported waiting until the new city council is seated in January to take up the issue. Councilman Guy Phillips also voted against the project.

John Berry, founding partner of Berry Riddell and attorney for Stockdale, said the redevelopment is an opportunity to “transform an area with no character into Scottsdale’s next great neighborhood.”

Berry said through 2019, Stockdale has invested over $434 million in Scottsdale, and in 2020 the company invested $39.5 million. Stockdale’s projects include the reuse of the Scottsdale Galleria, the Ilume office building renovation in north Scottsdale and several developments, including the W Hotel, in Old Town Scottsdale. The Scottsdale Collection is expected to cost $450 million to develop.

Read More (subscriber content)