$2 Billion Megadevelopment Set to Transform Arizona Luxury Sector

Article originally posted on Commercial Executive Magazine on June 24, 2020

The first phase of the $2 billion megadevelopment, The Palmeraie, is entering the home-stretch of completion and in the last three months, owner and developer Five Star Development has pivoted in order to proactively adjust, reconfigure and elevate certain elements of the project to better cater to the safety, health and wellness of future guests, shoppers, office workers and residents.

As one of the most ambitious undertakings of a luxury master-planned community ever to exist in the Southwest, Five Star has continued to pursue an aggressive construction schedule amid the pandemic while being diligent about implementing social distancing guidelines among its crews. Close to 700 workers have been able to maintain their jobs and keep their distance while working across more than 50 acres within the 122-acre development.

In order to be at the forefront of safety measures for guests and visitors, Five Star recently made two significant upgrades to the first phase of the community. A first for The Ritz-Carlton brand, the resort and all 81 residential Villas will have ionized air throughout. Five Star purchased over a thousand systems from a leading manufacturer, whose research shows its ionizer eliminates over 95 percent of airborne viruses and bacteria within 60 minutes using bipolar ionization technology to proactively purify indoor air. Charged ions trigger cell oxidation, reducing airborne mold, bacteria and virus cells essentially sanitizing 24-hours a day. Additionally, all guest touchpoints within the resort have been converted to touchless, including all entryways, restrooms and amenity spaces.

“We originally designed The Palmeraie around the idea of it being a health and wellness oasis with low density, private rooftop gardens, a large sense of space and a celebration of bringing the outdoors in,” said Jerry Ayoub, president of Five Star Development. “With the health issues we’re facing in the world today, not much needed to change from our original design to maximize distance, transition to a completely touchless environment and ensure the highest cleanliness of airflow throughout the property.”

The centerpiece of the visionary project, The Ritz-Carlton, Paradise Valley, will be ready to open before the year’s end and features 215 hotel rooms with private entrances, detached casitas, bungalows and oversized suites spread across 20 verdant acres. The Ritz-Carlton Residences, Paradise Valley, surround the resort, offering two enclaves of multimillion-dollar estate homes and serviced Residences including, The Villas, 81 condominium-style homes priced from $1.6 million, and The Estate Homes, 39 single-family estate homes with prices starting at $5 million.

 

Find Complete Article Here: https://cem-az.com/2-billion-megadevelopment-set-to-transform-arizona-luxury-sector/

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