ARIZONA NEWS

Billion-dollar CrackerJax redevelopment project gets first approval in Scottsdale

Oct 2, 2023, 4:15 AM

An artist's rendering of The Parque, which is a proposed mixed-use project at the former CrackerJax...

An artist's rendering of The Parque, which is a proposed mixed-use project at the former CrackerJax amusement park. (Nelsen Partners Photo via City of Scottsdale)

(Nelsen Partners Photo via City of Scottsdale)

The next billion-dollar development project in north Scottsdale took another step toward reality on Wednesday.

A rezoning for The Parque — a mixed-use development at the site of the former CrackerJax amusement park — was recommended for approval on Sept. 27 by the Scottsdale Planning Commission in a 6-0 vote.

Proposed for The Parque are more than 1,200 residential units including multifamily, condominiums and workforce housing; a 100,000-square-foot Class A office building; nearly 35,000 square feet for new restaurants; more than 25,000 square feet for additional retail; a 223-key, five-star branded hotel; and 92,500 square feet of flexible space. A hotel-branded condominium would be the tallest of the 12 possible buildings at The Parque at 119 feet.

Plans also call for a 2-acre, open space “Central Park” in the middle of the development, which is described as a “focal point” of The Parque.

Billionaire George Kurtz, the co-founder and CEO of cybersecurity company CrowdStrike, and one of the wealthiest people in Arizona, acquired the land in 2022 for $55.5 million. At the time of the purchase, Kurtz said he wanted to create “a transformational, sustainable mixed-use campus as a catalyst to attract top innovators, technology entrepreneurs, knowledge workers, and venture capitalists to accelerate Scottsdale’s growing technology cluster.”

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

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Billion-dollar CrackerJax redevelopment project gets first approval in Scottsdale