The first phase of the $2 billion development The Palmeraie, which sits on the Scottsdale-Paradise Valley line, is entering the home-stretch of completion.
In the last three months, owner and developer Five Star Development has pivoted in order to adjust certain elements of the project to better cater to the safety, health and wellness of future residents and guests.
Five Star has continued to pursue an aggressive construction schedule amid the pandemic, according to a press release, while being diligent about implementing social distancing guidelines among its crews. Close to 700 workers maintain their jobs and keep their distance while working across over 50 acres.
Five Star recently made two upgrades to the first phase of the community.
The resort and all 81 residential Villas will have ionized air throughout. Five Star purchased over 1,000 systems from Plasma Air, which claims its ionizer eliminates over 95% of airborne viruses and bacteria within 60 minutes using bipolar ionization technology.
Plasma Air further claims its results are from the HVAC company Tayra, which is based out of Madrid, and have the backing of the Spanish Ministry of Defense Biological Laboratory. The test claims the ionizers reduce MS2 Bacteriophage, a surrogate for the novel coronavirus, in indoor environments.
Charged ions trigger cell oxidation, reducing airborne mold, bacteria and virus cells essentially sanitizing all day, according to a release. All guest touch-points within the resort have also 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,” Jerry Ayoub, president of Five Star Development, said in a prepared statement.
“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 project --- The Ritz-Carlton, Paradise Valley --- has plans 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 estate homes and serviced residences including The Villas, 81 condominium-style homes, and The Estate Homes, 39 single-family estate homes.
The Ritz-Carlton, Paradise Valley was designed as a private sanctuary with guest accommodations connected by courtyard gardens and shaded walkways, which the developer hoped would evoke the sense of a village. The residence features large windows with deep overhangs and glass pocket walls that fully open to the outside.
The spa features indoor/outdoor treatment areas. In the outdoor area, spa guests can access a private pool with a circuit of various jetted treatments. The resort will also feature a 2,500 square-foot state-of-the-art health and fitness center, a walking and jogging trail with alfresco fitness stations, various indoor and outdoor meeting and event spaces and a grand lawn with views of the iconic Camelback, Mummy and McDowell mountains.
While construction has progressed, the luxury real estate component has seen a significant uptick in sales activity at the newest release, The Estate Homes.
May 2020 was the most successful sales month in more than a year with $20.2 million in real estate sold, a release claims. Another $15 million in pending contracts have carried over to June.
Nearly all recent homebuyers purchased their residence as a second home and most originate from states and countries that saw heavy impacts from the COVID-19 pandemic.
Developers also analyzed the second phase to determine what aspects would need to be enhanced. Set within 18 acres, it encompasses the shopping, dining, social, office and residential district including chef-driven dining destinations; a Class-AA+ office tower and FENDI Private Residences with 41 residences. Completion and opening of the second phase are expected by the end of 2022.
“Not many people have the opportunity to be a Monday-morning quarterback and assess what’s needed after the building process has begun,” Hanna Struever, principal of Retail Portfolio Solutions who is leading the curation for The Palmeraie, said in a prepared statement.
“We wasted no time in evaluating how to make The Palmeraie experience even stronger by converting nearly all entry spaces to touchless environments; increasing outdoor dining areas in natural venues; adding more rooftop terraces and VIP spaces including private gardens for retailers; and incorporating nano-doors, operational windows and ionized air systems in office spaces to allow for fresh, clean airflow.
“The dramatic shift away from traditional mall-like environments has been trending for years and it’s more apparent than ever before that luxury is now defined as a sense of safe, which equals an emphasis on health, wellness, fresh air, outdoor spaces and a celebration of natural beauty. The Palmeraie has found a way to make safe equal chic, fresh and energetic. It’s about quality and not quantity. Innovation and new ideas are what’s needed in our industry. Without a doubt, The Palmeraie unequivocally defines the future of retail.”