$1 Billion Project Proposed at Shuttered CrackerJax Site in North Scottsdale

Article originally posted on AZ Central on July 24, 2023

A shuttered amusement park in north Scottsdale could make way for a $1 billion redevelopment with apartments, condominiums, office space, a hotel and retail development on the 28-acre CrackerJax site. George Kurtz, CEO of cybersecurity company CrowdStrike, bought the former CrackerJax amusement park in mid-2022 for $55 million, according to real estate database Vizzda. Kurtz submitted plans to Scottsdale to redevelop the site, on Scottsdale Road south of Bell Road, into a mixed-use project, called the Parque.

According to the application submitted to the city, the Parque project will include:

A 223-room five-star hotel.
126 five-star hotel-branded condominium units.
115 condominium units in another building.
897 for-rent apartment units.
98 workforce housing units.
100,000 square feet of office space.
25,250 square feet of retail buildings.
34,800 square feet of restaurant space. Site plans show five restaurants.
A two-acre central park that would be public open space.
A “green parking garage” planned to have vegetation and open space on the roof.

In total, about 2 million square feet of buildings are planned on the site.

Kurtz said he is in discussion with two luxury hotel companies for the hotel and branded residences, but cannot name a brand on the project yet. Scottsdale is home to many five-star hotels, including the nearby Fairmont Scottsdale Princess.

The city has not yet scheduled public hearings for the Parque project, and the development will have to be reviewed by both the city’s planning commission and City Council.

The existing CrackerJax facility includes a driving range, go-karts, miniature golf, batting cages and an arcade. It announced its permanent closure in July 2022 after about 30 years in business.

Developer calls it a transformational ‘legacy project’

Kurtz said he had been looking for a location in Scottsdale where he could build a development that “could sustain a transformational mixed-use campus,” he said in an email. The goal is to create a project that will attract investors, technology entrepreneurs and venture capitalists.

Dedicating 10% of the housing on the site to “workforce housing” will allow the area to attract workers to Scottsdale who might otherwise choose to live elsewhere, he said.

“This is important to the success of our unique community, as it will allow us the opportunity to attract the necessary knowledge workers, who could go anywhere in the country, to Scottsdale,” Kurtz said.

Commercial space, natural resource conservation could be benefits

The project has more commercial space than some of the other mixed-use developments around the city, which is a benefit, Janik said. Across the Valley, many City Councils have put an emphasis on additional commercial space in mixed-use projects.

When the proposal does come before the council, Janik said, councilmembers will look closely at sustainability measures taken.

“We will definitely focus on conservation measures and not adding to the heat island,” Janik said. “But it would not surprise me if this particular developer is more innovative than some others when it comes to that.”

Kurtz said conservation and sustainability will be key pieces of the development.

“It is important to me that this community focuses on wellness for its residents and that it is a sustainable community that is a catalyst for innovation,” he said.

When could construction begin?

The project still has several stages of approval before any development can move forward, but if granted the go-ahead, Kurtz said he would like to start construction as soon as possible.

“The market will certainly dictate our phasing plan, but we are excited to see our vision move forward,” he said.

Scottsdale development:Big expansion planned for Arizona Boardwalk entertainment destination

5-year-old plan never came to be

Kurtz is not the first high-profile Arizonan to take a crack at redeveloping CrackerJax. In 2017, JDM Partners, the real estate firm led by Jerry Colangelo, David Eaton and Mel Shultz, submitted plans for the site.

At the time, the partners proposed a development focused on “innovation and art,” according to city documents from 2017. JDM’s plans placed more of an emphasis on office buildings, which have become less popular in the wake of the COVID-19 pandemic. The plan also called for a new hotel, a grocery store, condominium and apartment units. The plan never went forward, and the amusement park remained in its place.