Editor's Note: A former version of this story misidentified the components of The Palmeraie. The Palmeraie is a 122-acre property straddling both the Town of Paradise Valley and city of Scottsdale, comprised of a mixed-use development with plans for 41 residential units, commercial space and office space.
Although about $60 million in mechanics’ liens have been filed against Scottsdale-based Five Star Development, the company’s president says these disputes are in no way an indication of troubled waters at the forth-coming Ritz-Carlton Paradise Valley.
“The liens filed from the former contractor are a normal and expected result of that transition process and are in no way indicative of the project being at risk for non-completion,” said Five Star Development President and CEO Jerry Ayoub.
