1st phase of $2B Paradise Valley development to open by year’s end

PHOENIX — The first phase of a $2 billion Valley mega-development is set to open by year’s end.

Located within Paradise Valley and Scottsdale, The Palmeraie is a 122-acre community that offers shopping, hospitality, dining, living, wellness and relaxation.

The main attraction of the development is The Ritz-Carlton, Paradise Valley.

The hotel will feature 215 rooms with bungalows, detached casitas, private entrances and suites spread across 20 acres.

Resort amenities feature a 2,500 square-foot health and fitness center in addition to a 16,000 square-foot spa with indoor and outdoor treatment areas.

Surrounding the resort will be residences that include 81 condominium-style homes that start at $1.6 million and 39 single-family estate homes that start at $5 million.

The second phase of The Palmeraie will be more focused on dining, shopping, social, office and residential housing spread over 18 acres.

It will feature over 60 boutiques and include 41 bespoke residences that will go on sale later this year.

Phase two is scheduled to be completed by the end of 2022.

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