Peter Corbett
The Arizona Republic
Oct. 25, 2007 12:12 PM SCOTTSDALE – The developer of the W Scottsdale Hotel is planning a $390 million project that would redevelop a portion of downtown’s nightclub district with new clubs, restaurants, condos, offices and another hotel.
Triyar Companies LLC, which will complete the sleek W Hotel in February, has assembled about 10 acres southeast of Scottsdale and Camelback roads for an 850,000-square-foot development.
The nightclubs Axis/Radius, Myst and Suede would be torn down and rebuilt as smaller venues. “We feel this area is ripe for redevelopment,” said Shawn Yari, a Triyar principal, adding that it would replace dozens of 50-year-old commercial buildings. Yari is a partner in the three nightclubs.
Area businesses have shown support for the project, he said.
The unnamed development would spread over several blocks from Buckboard Trail and Camelback Road to Sixth Avenue and Civic Center Plaza.
Most of the buildings would be three to five stories, with underground parking, but the 140-room hotel could be as high as 72 feet.
Triyar plans to file a rezoning application for the project next week, zoning attorney John Berry said.
If approved, Triyar hopes to start construction by the end of 2008 and complete the first half of the project in about two years, Yari said.
The idea is to diversify the demographics of Scottsdale’s entertainment district, he said, with more one-of-a-kind restaurants, coffee shops, delis and smaller nightclubs to truly make it a 24-hour environment.
Right now the nightclub district is quiet in the evening until it gets going from 11 p.m. to 2 a.m., he said.
If you are looking for a property in the old town area give us a call at 480-767-2738.
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