W Hotel Scottsdale & Residences
February 26th, 2008 Posted in Condos, Luxury Phx Homes, Old Town Scottsdale, ScottsdaleW Hotel Scottsdale & Residences
Only 18 Luxury Residences Will Be Available at W Hotel Scottsdale .
W HOTEL TO BE CENTERPIECE OF RETAIL-ENTERTAINMENT-HOSPITALITY-RESIDENTIAL PROJECT
Scottsdale – The developer of the W Scottsdale hotel is planning a retail, residential, entertainment and hospitality district in old town Scottsdale that is expected to cost $500+ million when completed. The 1.1 million-square-foot mixed-use project will be built on a 10+ acre site located just east of Scottsdale Road and south of Camelback Road.
A company formed by TriYar Capital in Phoenix (Steven Yari, Shawn Yari, Bob Agahi, principals), also the developer of the W Scottsdale, assembled the property for the proposed project over the past two years. The 224-room W Scottsdale, scheduled to open next spring, will be the centerpiece of the upscale development. Future phases include a 140-room boutique hotel, office space, retail shops, restaurants, nightclubs, lounges, residential lofts and an entertainment component with a bowling alley and comedy club.
Shawn Yari says the project will be the ultimate live, work and play development. The multi-building complex will feature retail plazas with water features and trendy patio-style restaurants and speciality shops. The boutique hotel is expected to have a rooftop pool and cabana. Plans include 160 upscale residential condominiums and office condominiums. A bowling alley called Split Lanes that will be partly owned by former Phoenix Suns basketball player Dan Majerle is part of an entertainment component that is expected to include a comedy club. “We are trying to redefine entertainment,” says Shawn Yari. RSP Architects in Tempe is designing the project, which has yet to be named.
Phase one construction of about 500,000 sq. ft. of buildings should start late 2008. The development is scheduled to open mid-2010. The initial phase is likely to include the boutique hotel, 200,000 sq. ft. of office space, 70 loft-style condominiums and more than 130,000 sq. ft. of retail and entertainment space. Phase two plans call for another 400,000 sq. ft. of office, retail, restaurants, bars and lounges and 90 upscale residential condominiums. The popular nightclubs Myst, Suede and Axis/Radius (all partly owned by the TriYar principals) are now located in the second phase of the site and will eventually be relocated into newly-constructed buildings. Development cost (land and buildings for both phases) estimated at $400 million. Construction financing yet to be arranged.
The 10-acre site being developed by TriYar is generally bounded on the north by Camelback Road, on the south by 6th Avenue, on the east by both sides of Saddlebag Trail and on the west by Brown Avenue. TriYar is spending $110 million to develop the W Scottsdale. That seven-story project also includes 18 luxury condominiums. Those penthouse units, which should average about 1,700 sq. ft., are expected to be priced from about $1.6 million to $3.5 million. Sales are scheduled to start in December. TriYar has been an active player in the Phoenix real estate market. The company is interested in additional investment and development opportunities in the Valley.
W Scottsdale Hotel and Residences will be developed and owned by TriYar Hospitality LLC and will be located at the intersection of East Camelback and North Scottsdale Road. A focal point of the hotel’s design will be unique water features throughout, which will create a most unusual arrival experience, setting the stage for surprises throughout the hotel. The second floor pool area will be the center of entertainment in the hotel featuring a full service spa, fitness facilities and pool bar.
Hornberger & Worstell, who were the architects for the W San Francisco, have been retained as the architects for this project and Remedios Siembieda have been retained as interior designers.
“The W Scottsdale will be a unique alternative to the more traditional resorts for which Scottsdale is famous,” said Barry S. Sternlicht, W’s creator and Chairman and CEO of Starwood Hotels, W’s parent. “We’re creating a visually stunning hotel with a bit of an urban edge and a focus on nightlife. We think the hotel’s restaurants and bars will attract stylish locals, and in fact, some locals will actually call W Scottsdale home.”
The W Residences will offer owners a combination of stylish one and two bedroom condominiums with the benefits of being attached to a W Hotel including all the amenities enjoyed by hotel guests. Owners will have full use of the property’s facilities, as well as access to 24-hour room service, maid service and concierge services. Other highlights include in-home catering, botanical service, limo service and special W Resident Rates and VIP service in all W hotels worldwide. .
Starwood operates nine hotels in the Phoenix area including the famed Phoenician resort, the Sheraton Wild Horse Pass and The Westin Kierland Resort and Spa. Earlier this month, Starwood’s Sheraton brand won a competitive bid to manage a new 1,000-room convention hotel in downtown Phoenix.
SCOTTSDALE - Scottsdale visitors will have to wait until summer before one of downtown’s flashiest additions swings open its doors.
W Scottsdale Hotel & Residences plans to open May 27, according to General Manager Leon Wood.
That is more than a month later than the April 18 opening date listed on its Web site. The delayed opening means that the hotel owner, Triyar Hospitality LLC, will miss Scottsdale’s entire high tourism season.
Nevertheless, the W Scottsdale Hotel, described on its Web site as “the chilliest place to stay in the sultry heat of stylish Scottsdale,” is aiming high in bedding well-heeled travelers.
Rack rates are listed at $659 to $759 in mid-July, and $749 to $849 in January. I guess W stands for “whoa!”
$110 million hotel in urban scene
W is courting its loyal guests to the new $110 million hotel, which is an important element in downtown’s transformation into a hip, urban playground for travelers and hundreds of new residents.
When it broke ground on the W in November 2005, Triyar had hoped to open the hotel early in 2007 in time for the winter tourism season. But the target date has been pushed back a number of times.
The W will include 224 rooms and 18 condominiums in a seven-story glass and steel building southeast of Scottsdale and Camelback roads.
It will feature a zero-edge swimming on a second-level deck fronting Camelback Road.
Guests can also be pampered in a 4,000-square-foot Bliss Spa or dine in Sushi Roku.
Hollywood-based sushi eatery
The Japanese restaurant from the Innovative Dining Group got its start in Hollywood a decade ago and expanded to Las Vegas two years ago.
In that time, it has attracted lots of attention, including the support of celebrity investors Ryan Seacrest, the American Idol host, actress Tori Spelling and film director Brett Ratner.
“There is a great synergy between the Los Angeles, Las Vegas and Scottsdale markets,” said Lee Maen, an Innovative Dining Group partner.
The key in Arizona is to continue to offer guests great food with the right atmosphere, he added.
Innovative Dining Group has lured Tim Fields, formerly of the Boulders Resort, as its executive chef.
The Los Angeles-based restaurant company will also provide the food and beverage service for the entire W Scottsdale Hotel. Its room service offerings will include Sushi in Bed.
Sushi Roku plans to open its 6,000-square-foot restaurant in early June.
If you are looking to purchase at W Hotel Scottsdale luxury condos, don’t wait as they we sell very quickly. Contact Bette Zerba GRI REALTOR RE/MAX for information - 602-791-1766
W Hotel Scottsdale & Residences
1 Trackback(s)