Scottsdale City Council signs off on pricey high-rise project in Old Town
PHOENIX – A multimillion dollar mixed-use project intended to revitalize a tourist destination in Scottsdale has been approved by the city council.
The council OK’d plans for SouthBridge 2, which would take up about 10 acres in Old Town along the Arizona Canal, by a 4-3 vote during Wednesday’s meeting. The development could include a high-rise at least 150 feet tall.
The Phoenix Business Journal reported the development will probably cost more than $700 million.
Space for up to 570 apartments and 200 hotel rooms have been designed into the project near Goldwater Boulevard and Fifth Avenue.
Opponents are worried that would mean the end of the small shops and art galleries in the area.
A proposed master plan submitted to the city showed the residential building would go up in the first phase of construction.
The council has been busy moving ahead with redevelopment plans for its downtown in the past couple of months.
In late October the members approved the $300 million Museum Square for the Old Town Arts District.
Four buildings at Goldwater near Marshall Way were earmarked for residences. The site would include a 190-room hotel and restaurants.