EMDR Therapy in Paradise Valley, AZ

RED Development, announced Life Time will join PV, the more than 100-acre redevelopment of the former Paradise Valley Mall, with of an athletic country club and luxury-for-lease residences slated to open in 2026.

The planned 11-story Life Time Living Paradise Valley will include more than 300 luxury residential residences for lease that combine the country club with thoughtfully designed residences to inspire a holistically healthy lifestyle.

Life Time Living will feature a mix of one- and two-bedroom and penthouse units ranging from 850 square feet to more than 2,100 square feet with a host of amenities, including work-from-home lounges; private dining rooms; private yoga/fitness studio, meditation area, outdoor deck with a pool, jacuzzi and cabanas; indoor/outdoor bar area; grilling stations; outdoor game areas; firepits; dog park; EV charging stations and covered parking. Residents will also have access to the concierge wellness programming, providing direct access to in-home resources and Life Time’s wellness professionals, including nutrition coaching with meal preparation and delivery.

PV will also be home to a 92,000-square-foot Life Time athletic country club, located steps away from the resort-style high-rise Life Time Living. Highlights include dedicated studios for group fitness, barre, cycling, pilates and yoga, a fitness floor with cardio and strength-based equipment for small group and personal training, outdoor pickleball courts, Kids Academy, LifeCafe and LifeSpa. A rooftop beach club, which connects to the Life Time Living rooftop pool, will create a hospitality deck totaling more than 1.5 acres.

“Bringing the state’s first Life Time Living, along with its athletic country club, to Paradise Valley is a proud moment for RED and marks a major milestone for PV in bringing luxury living and wellness to this market with a first-of-its-kind concept,” Mike Ebert, managing partner at RED, said in a press release. “From the beginning, we set out to build something original that would elevate the community to a whole new level, partnering with Life Time is a testament to that goal and a sign of the innovation Arizonans can expect at PV.”

The multi-phase, multi-year project will also contain a 3-plus acre central park and community gathering place situated amongst dining, entertainment and retail experiences. PV will eventually be home to more than 3,000 residences with Life Time anticipated to open during the 2026 phasing of the redevelopment.

“We are thrilled to work with RED in bringing Life Time to PV in this tremendous, game-changing development,” Parham Javaheri, chief property development officer and executive vice president at Life Time, said in a press release. “In addition to serving members and the surrounding area with our iconic athletic club experience, we cannot wait to debut Life Time Living at PV, all as part of one vibrant experience that embraces the ethos of our healthy way of life brand.”

For more information about PV, visit pvphx.com. For additional information about Life Time, visit lifetime.life.

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Five Star Development has secured a $585 million construction loan from Madison Realty Capital to complete what’s known as The Ritz-Carlton Paradise Valley, The Palmeraie, a $2 billion mixed-use, ultra-luxury retail, residential, hotel and dining development in Paradise Valley, Ariz.

Bryan Clark, managing director of JLL (JLL) Capital Markets, brokered the financing. Madison Realty Capital’s $585 million origination is anticipated to finish construction of the project, which is 80 percent completed and is expected to open this year.

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“Madison Realty Capital’s significant experience with branded hotel residences and deep understanding of the hospitality market sets their team apart,” Clark said in a statement. “We were pleased to work with them to deliver tailored financing for a hospitality and luxury retail project that will set a new standard in Paradise Valley.”

The Ritz-Carlton Paradise Valley, The Palmeraie is one of the most ambitious mixed-use undertakings initiated in the Paradise Valley region, which sits just outside Phoenix and Scottsdale. Covering more than 122 acres of land and incorporating more than 160,000 square feet of high-end, mixed-use space, the development is expected to redefine both the living and shopping experiences in the state’s wealthiest ZIP code.

The Palmeraie dining and shopping center is expected to incorporate more than 60 luxury boutiques into its 22 acres of retail and restaurant space, while the 215-room Ritz-Carlton Resort and Hotel will be supplemented by 80 single-level Ritz-Carlton residential villas and 32 single-family estate homes, which will be branded and serviced by Ritz-Carlton staff.

The residential Villas include private balconies, terraces with outdoor fireplaces, and floor-to-ceiling glass windows. The estate homes are adjacent to the Ritz-Carlton Hotel and Residences and within the property grounds, and span four different design styles, ranging from 8,468 square feet to 12,323 square feet.

Josh Zegen, managing principal and co-founder of Madison Realty Capital, described the project as “one of the most impressive undertakings of a luxury master-planned community on the West Coast,” and said that Five Star Development has pre-sold all 80 single-level residential Villas and nearly half of the 32 single-family estate homes.

“The Ritz-Carlton is one of the world’s most iconic luxury brands, and this development is catered for the affluent and desirable Scottsdale market, which is consistently ranked as one of the best places to live in the U.S,” Zegen said in a statement.

Five Star Development is a Scottsdale-based developer with projects across all CRE asset classes. Since its founding in 1978, the firm has developed more than 20 million square feet at a value of $1.2 billion, mainly across the Southwest and at the El Paso/Ciudad Juarez border region.

This is the second deal in the last week that Madison Realty Capital has announced together with Ritz-Carlton. The New York-based firm announced May 3 the origination of a $340 million construction loan for The Ritz-Carlton Residences, Palm Beach Gardens, a three-building residential project in Palm Beach Gardens, Fla., that includes 106 private residences and a private marina with 29 boat slips.

Blanco Cocina + Cantina, which will be adjacent to PV’s 3-acre central park, will debut an expanded dinner experience along with an elevated bar program. (Rendering provided by J. Lauren PR & Marketing)

RED Development today revealed six new tenants are opening at PV, the highly anticipated redevelopment of the former Paradise Valley Mall, with an impressive roster ranging from restaurants, including two concepts by notable restaurateur Sam Fox, to global beauty retailers and services along with the expansion of local favorites opening in 2024.

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Fox Restaurant Concepts is opening two of its culinary hotspots, Blanco Cocina + Cantina and Flower Child, in summer 2024. Blanco, a lively and vibrant, Sonoran-style Mexican restaurant, will debut an expanded dinner experience featuring favorites such as tacos on house-made corn tortillas and crave-able cheese crisps perfect for sharing alongside new, delectable steak and seafood mains. The bar program will also be elevated, featuring cocktails and design elements inspired by Nashville-based sister concept, Pushing Daisies, Fox’s first-ever bar serving up one-of-a-kind margaritas and an extensive menu of agave-based spirits.

Blanco will be adjacent to PV’s 3-acre central park and community gathering place – primely located in the heart of the mixed-use Paradise Valley Mall redevelopment. Flower Child, a healthy fast-casual restaurant catering to all lifestyles from vegetarian and vegan to keto and paleo, will be situated nearby.

“Bringing Blanco and Flower Child to such an iconic location felt like a natural fit. With Blanco being the center beacon around the park, launching the restaurant’s new dining experience here was an opportunity we couldn’t miss,” said Fox, founder of Fox Restaurant Concepts. “It's an honor to be a part of this vibrant transformation and we can't wait to share our concepts with the community, we know both will become staples at PV.”

Sephora, the largest prestige beauty omni-retailer in the U.S., is also coming to PV. Since its debut in North America more than 20 years ago, Sephora has been a leading pioneer with a mission of creating an inviting beauty shopping experience offering thousands of products from more than 340 carefully curated brands. Joining the new tenant lineup is Aveda, the leading high-performance, plant-based hair and skin care brand, with Distinctive Salon Aveda. The full-service salon will offer services to women, men and children spanning across haircuts, styling, color, extensions and more that connect beauty, well-being and sustainability with powerful products rooted in nature.

Also opening next year is Wren House Brewing Co., offering finely crafted beer with Arizona roots. As one of the premier breweries in the state, Wren House is renowned for its quality and is a recipient of multiple awards from the Great American Beer Festival, including gold medals for its Hazy IPA, Spellbinder and Festbier German Lager. PV will mark its fourth location and first in north Phoenix. Frost Gelato, the Tucson-headquartered company serving classic and inventive flavors of handcrafted gelato and sorbet, is expanding with the opening of its fifth Valley location. Frost imports most of its raw ingredients from Italy and produces all its gelato and sorbet on site, fresh daily. Under the direction of Nazario Melchionda, the award-winning master gelato chef hailing from Bologna, Italy, Frost creates the most authentic Italian gelato in the state.

“The progress being made at PV is phenomenal and the upcoming phase one opening represents a significant milestone for Phoenix,” said Councilwoman Debra Stark. “This project will undoubtedly leave a positive impact on our local economy. PV is truly a testament to the strength and resiliency of our community, and I look forward to seeing the continued growth and prosperity it will bring.”

At more than 100 acres and situated in the heart of one of the oldest and most affluent neighborhoods in metro Phoenix, PV is expected to become one of the Southwest’s most monumental mixed-use developments. The multi-phase, multi-year project will feature a mecca of dining, entertainment and retail experiences along with a hotel. It will be surrounded by lush landscaping, linked open spaces and expansive walk and bike paths, giving live-work-play a new meaning with luxury residential complexes and office campuses with sought-after amenities, including a four-story office building complete with rooftop amenities such as a tenant lounge, training center and pickleball court.

Opening during the first phase of the massive redevelopment in 2024, the mixed-use development will be home to a 400-residence luxury apartment building, The Blake, by StreetLights Residential, Whole Foods Market and Harkins Ciné Grill™, a new dine-in luxury theatre concept. RED previously announced phase two at PV will see the debut of Life Time Living – a first for Arizona, the fully integrated concept consisting of an athletic country club and luxury-for-lease residences is slated to open in 2026.

“PV is not just about revitalizing the former Paradise Valley Mall, but creating a new destination that can be the core of the community,” said Mike Ebert, managing partner at RED. “Welcoming best-in-class tenants like Sam Fox’s Blanco and Flower Child, Sephora and Aveda along with local favorites Wren House Brewing and Frost Gelato brings us a step closer to shaping the space we envisioned that fundamentally fosters a sense of belonging and pride in the neighborhood.”

For more information about PV, the Paradise Valley Mall redevelopment and to stay updated on the latest announcements, visit pvphx.com.

The Ritz-Carlton Paradise Valley, part of a long-awaited $2 billion development that also will include Fendi-branded private homes and high-end retail and restaurants, is expected to open by the end of the year.

Five Star Development, the developer of the Palmeraie, a 122-acre project, secured a $585 million loan to complete construction. The loan, originated by Madison Realty Capital, is the final financing needed for the development, the developer announced Friday.

The project is about 80% built based on total acreage, a spokesperson for the developer said.

Portions of the development, located near Lincoln Drive and Scottsdale Road, are in Paradise Valley and in Scottsdale.

The 215-room resort is expected to open by the end of the year, but some pieces could be ready sooner.

The first group of Ritz-Carlton Villas, which are condominiums for sale in the development, is completed and soon will be ready for occupancy.

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The development will include 80 single-story for-sale villas, which are fully sold, and 32 Ritz-Carlton branded “estate homes,” half of which are already sold.

A sales campaign will begin this fall for 52 luxury for-sale residences that are branded by Fendi, the Italian luxury fashion house. Those homes have not yet gone up for sale, a project spokesperson said.

The retail and restaurant pieces of the development are in design review with Paradise Valley and Scottsdale.

The portion of the development that is in Scottsdale is about 20 acres, according to documents submitted to the city. The first phase of the Scottsdale portion will include about 46,000 square feet of restaurants, 98,000 square feet of office space and about 133,000 square feet of shopping, according to city documents.

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A project spokesperson said no retail or restaurant brands have been announced yet for the space, but the area will include “ultra-luxury retail and dining.” The shopping district is planned to include open-air retail around a common green space.

The project, which has been in the works for years, was first approved in Paradise Valley in 2008. Plans were delayed by the Great Recession, and the project resurfaced in 2015. The project also was subject to a legal dispute between Five Star Development and the town about the costs of underground drainage and infrastructure on the site, further delaying progress.

Reach the reporter at cvanek@arizonarepublic.com. Follow her on Twitter @CorinaVanek.

Paradise Valley is a small community situated just northwest of Scottsdale where the town's 25,000 residents earn a median household income of more than $200,000, making it one of the wealthiest communities in the entire state.

It's run by six Town Council members who serve staggered four-year terms, meaning half of the governing body goes up for reelection every two years. None of them gets paid for taking on the role, but they have big responsibilities to the upscale community ranging from crafting short-term rental regulations to keeping up with road maintenance.

Here's who runs what might be Arizona's swankiest town.

Vice Mayor Scott Moore

Moore is serving his second term on the Town Council, and previously held roles on both the town's Board of Adjustments and Planning Commission. He is an executive for a large real estate investment and development company called BET Investments, and has spent nearly four decades in that industry.

Moore's current council term will expire in 2024.

Mark Stanton

Stanton is the longest-serving member of Paradise Valley's Town Council, having served nearly a decade in the role so far. He is a public relations and marketing specialist who founded his own communications firm called Stanton & Associates, and also leads the Scottsdale Area Chamber of Commerce.

Stanton's term on the Town Council will end in 2024.

Julie Pace

Pace has served on the Town Council since 2018 and launched an unsuccessful bid for mayor in 2022. She has spent her 30-year career as a lawyer representing companies in employment, construction and workplace safety cases, and she has worked in investment and insurance sales management.

Pace will be eligible for reelection to the Town Council in 2024.

Ellen Andeen

Andeen first took her seat on the Paradise Valley Town Council in 2018 and is serving her second term in office. She spent 25 years in the banking industry with a focus on automotive companies. She also worked for Penske Automotive Group in Phoenix as an acquisition team leader.

Andeen's current Town Council term will expire in 2026.

Anna Thomasson

Thomasson is in her second term as a Town Council member and has also served as a member of the town's Board of Adjustments. She spent her nearly four-decade career in the corporate finance and human resources industry, during which she worked for the firm Towers Perrin/Towers Watson.

Thomasson's term on Paradise Valley's Town Council will end in 2026.

Christine Labelle

Labelle is Paradise Valley's newest Town Council member, having only been elected for the first time in 2022. She owns a real estate agency in Paradise Valley and is a member of the town’s Historical Advisory Committee.

Labelle will be eligible for a second term in 2026.