PHOENIX——It may be a pile of rubble now, but the million dollar view hasn't changed a bit. Mountain Shadows Resort, once one of tony Paradise Valley's premier resort destinations, is going to be restored to its former glory.
The resort at 56th Street and Lincoln Drive at the base of Camelback Mountain opened in 1959 and played host to celebrities such as Frank Sinatra and Sammy Davis Jr, and vacationers from around the world—it was a Valley icon for decades.
Crown Development purchased the property from Marriott in 2007 for $42 million, but the resort has sat vacant for years. Asbestos, outdated mechanical systems, and run-down facilities plagued the property.
Crown Realty's CEO Robert Flaxman stated at a demolition dedication ceremony, “We've been working since 2004 on options for this property. We've dealt with HOAs, the town has been great working with us and here we are—10 years later. We're finally ready to move forward.”
Crown plans to spend $300 million updating the property to include a pool, spa, restaurants, shops, bars, a luxury hotel and residential housing. The golf course has remained open during the resort's closure.
Mountain Shadows will retain its name and is expected to open in 2016.
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