As many of you know, the Park Place development located to our north side has been an ongoing item of concern over the past few years. Below is the most recent information on what's happening with the development, based on information from the Town of Fountain Hills.
For background, the Town and the developer have a legally-binding development agreement in place for all three phases of Park Place, outlining the types of buildings to be built, parking requirements, height and massing of the buildings, and other town requirements. The only way that the proposed development of the subsequent phases can be changed is if the Council approves amending the development agreement.
The first phase of Park Place has been completed, and both buildings are being occupied. The second phase of the development consists of constructing a smaller, mixed-use building on the Avenue of the Fountains to Saguaro and a townhouse building that will be east/west facing adjacent to the hotel property. The final (third) phase will consist of a low-rise three-story apartment building at the southwest corner of Verde River and Paul Nordin Parkway to the south of Park Place and west of the Morningstar building. The development agreement also calls for an art walk that would significantly mirror the appearance of the plaza areas of the Avenue of the Fountains (minus the fountains) with art nodes for public art. This art walk area will be constructed by the developer PRIOR to the completion of Phase 3 of Park Place.
As yet, we do not know when construction will begin on Phase 2 or Phase 3 of the project.