Utah-based investment firm proposes destination steakhouse in Old Town Scottsdale

Just over a month after Scottsdale City Council gave a continuance for a rezoning request for a new high-end restaurant in Old Town, the case will be back for the council’s consideration.

The case for Swags, a proposed high-end steakhouse by Utah-based Wags Capital, will be heard by Scottsdale City Council on Dec. 4. The restaurant, which would be located at 7323 E. Shoeman Lane, would be two stories with a rooftop terrace and encompass about 9,100 square feet. The existing single-story building on site would be demolished to make way for the building.

Swags would be located just to the east of Galleria Corporate Centre and across the street from entertainment concepts like Maya Dayclub and Dierks Bentley’s Whiskey Row.

Wags was founded by Aaron Wagner — a former football player who played collegiately at Washington State and BYU, as well as professionally in the Canadian Football League. Wagner’s firm makes investments in real estate, private equity and more than 100 food and beverage concepts.

Wags is working with Jordan Rose, president and founder of Rose Law Group, on the rezoning of the site.

“Any city around the country would be salivating to land a high-end restaurant of this caliber,” Rose said in a statement to the Business Journal. “[Wagner] is taking what is currently a run-down building, investing millions of dollars to make it beautiful and run a world class restaurant in the heart of Scottsdale’s nightlife.”

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