$250 million hotel, residential development planned for Old Town Scottsdale

“A $250 million, 7-acre mixed-use development with a hotel, residential complexes and a community open space could replace an abandoned transit station and parking lot in Old Town Scottsdale.

Plans submitted to the city of Scottsdale by Canada-based Macdonald Development Co. include a 150-foot-tall hotel and four residential buildings, three of which are planned to be condominiums and one is planned for rental housing. Adjacent to the hotel, developers plan to create a landscaped community park.

Museum Square would be built near Marshall Way and Second Street. It is adjacent to Scottsdale’s Museum of the West, Stagebrush Theater and Scottsdale Artists’ School and near several community art galleries.”

“John Berry, an attorney for the project, said the Museum Square has been endorsed by the Scottsdale Gallery Association and will ‘enhance the reputation and the vibrancy of the arts district.'”

“City Council voted unanimously to approve the sale of the land to Macdonald Development in order to create the project. The plans and related rezoning request have yet to be heard by the city’s planning commission.

Borders said once all approvals are given, the project will probably be shovel-ready by summer or fall of 2019.”

Excerpts from the Phoenix Business Journal. See the article here.