|Conceptual Site Plan for Mountain Shadows Resort Estates|
The subject property is a 11.523 gross acre graded portion that is final platted for 40 lots, ranging in size from 8,000 ft2 minimum dimension to a maximum dimension of 10,000 ft2. Lot widths are roughly 60’ and 70’ with eighteen and twenty-two lots of each type, respectively. There are 10' front, 7’/10' side and 20' rear setbacks for each lot. The 40 lot plan reflects 3.47 density units per acre with 9.25% of the project dedicated to open space.
The Town of Paradise Valley approved the plan for “Mountain Shadows Resort Estates” on February 13th, 2014 with the final plat recording June 20th, 2014. As part of the approval, the Town required $1.6M of street improvements along 56th Street to be completed before the plat could record. Residences are limited to 16’ build height on the subdivision perimeter and 24’-26’ on the interior. Access is provided along both Lincoln Drive and 56th Street.
|Mountain Shadows Resort Estates Vicinity Map|
The prior seller was Host Hotels & Resorts, doing business as Marriot Corporation. Following a bankruptcy in July 2012, Crown Realty entered into an amended development agreement with Town of Paradise Valley in April 2013, coupled with new financing in December 2013. Demolition permits for the resort were issued January 19th, 2014.
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