The Valley developer behind the redevelopment of the CrackerJax amusement park is planning a five-acre infill project in Old Town Scottsdale.
The Scottsdale mixed-use project is called 5th & Goldwater and will feature a five-story multifamily residential building with 232 units and approximately 32,000 square feet of ground level retail, according to Scottsdale city documents.
The developer behind the project is Scottsdale-based FalconEye Ventures. It’s founder and CrowdStrike CEO Gorge Kurtz, along with known business partner David Megdal, are also working together on a billion dollar mixed-use project in Scottsdale called The Parque, at the former CrackerJax site. FalconEye Ventures submitted site plans for the first phase of that sprawling 30-acre project back in March.
An entity tied to Megdal — dubbed Old Town Waterfront LLC — purchased the four parcels needed for the 5th and Goldwater project for $36 million on June 14 from New York-based firm Pan Am Equities, according to Maricopa County documents.
A nearly 5,000-square-foot freestanding restaurant, a three-story motel, three retail buildings and a trio of two-story office buildings located on the site were demolished a few months ago. Construction is expected to begin once permits are secured, said Susan Smith, a FalconEye Ventures spokesperson for the project.
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.
The post The Parque developers formulate next Scottsdale mixed-use project appeared first on KTAR.
