Wednesday, November 30, 2005

The Bottom Line: Millions help downtown Scottsdale bloom

Scottsdale is doing some number crunching to add up all of the investment that is occurring in the southern part of the city.
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From January 2003 to August 2005, the city says $1.4 billion will be pumped into downtown through the construction or renovation of hotels, condominiums and retail and office development.

More than 2,000 lofts and condos will be built in the area and there are several highprofile boutique hotels on tap. An $82 million remodel of the Hotel Valley Ho, with its 194 hotel rooms and 36 condos is set to open next month, said Dave Roderique, Scottsdale economic vitality director. The $80 million W Hotel with its 255 hotel rooms and 25 condos is expected to open in late 2007. Across the street from it, owners are ready to construct the Hacienda Resort, a $6.5 million, 54 room hotel.

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