Developer to invest $70M on McCormick Ranch lakefront destination in Scottsdale

Diversified Partners is about to break ground on the mixed-use project, and the first phase could be done next fall.

BY HELENA WEGNER/PHOENIX BUSINESS JOURNAL

Sep 14, 2026, 5:00 AM

The Lakefront at Scottsdale development in McCormick Ranch will have upscale eateries, high-end retail, wellness concepts and Class A office space. (Stewart + Reindersma Architecture rendering)

(Stewart + Reindersma Architecture rendering)

Diversified Partners is about to break ground on Scottsdale’s next mixed-use destination within the affluent McCormick Ranch community, and the first phase could be done next fall.

The Scottsdale-based developer is investing $70 million into The Lakefront at Scottsdale, a more than 100,000-square-foot redevelopment that will have upscale eateries, high-end retail, wellness concepts and Class A office space.OK

Interior demolition and remodeling on the former Forever Corporate Plaza at 7501 E. McCormick Parkway is set to begin Sept. 24. Diversified Partners in late May closed on its $25.5 million acquisition of the site.

The first phase of the project will include the conversion of 60,000 square feet of office space into restaurant, retail and Diversified Partners’ new corporate office, which will cover 10,000 square feet.

La La Land Cafe, V Modern Italian, SUSHISAMBA and Frost Gelato have already signed leases at The Lakefront, with another concept to be announced once the business has secured building permits. Three of those eateries will have large patios spanning 3,000 to 4,000 square feet, the Business Journal previously reported.

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