Arizona land purchased for proposed Ritz-Carlton project

05/31/2007 |

Five Star Development has purchased a $100 million, 123-acre parcel in Paradise Valley, Ariz., where a mixed-use project featuring a Ritz-Carlton hotel is planned. The site is one of the largest undeveloped parcels in the region, and developers are proposing a $1.5 billion development that would be the first Ritz-Carlton mixed-use project of its kind.

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