BILL CLARKSON, CCIM Commercial & Investment Specialist

Developer targets January groundbreaking for new entertainment hub in Scottsdale

Developer targets January groundbreaking for new entertainment hub in Scottsdale

  • By: BILL CLARKSON, CCIM
  • Posted: December 19, 2022

 
Article Originally Posted by PhoenixBusinessJournal on December 19, 2022
 

A year after pivoting the development plans from office to entertainment, Palmer Development Group's The Sydney is ready to break ground.

Daniel Lupien, president of Scottsdale-based Palmer Development, told the Phoenix Business Journal that the $80 million project has a groundbreaking date set for Jan. 15. The 26-acre project is set to be located near Pima Road and Pima Center Parkway in Scottsdale.

Tenants committed to The Sydney include Pickle and Social, The Rustic and Goodsurf, each offering a blend of food and beverage and entertainment nightlife.

Pickle and Social will include several indoor and outdoor courts, a restaurant and bar, event space and a rooftop bar. The Rustic will be a restaurant with a backyard bar and will be the concept's first location outside of Texas. As the name suggests, guests of Goodsurf will be able to hop on board and ride a wave in an on-site pool. Food, drinks and live music will also be available at the site.

Beyond what's already planned, Palmer Development is in negotiations to bring a 180-key boutique hotel. Lupien said he is in negotiations with a user for the hotel, which would be located to the east of the existing HonorHealth Hospital. Additionally, Palmer Development is looking to bring a food hall to the northeast side of the development.

Palmer Development is working with Upwards Architects for the design of The Sydney. LeDonna Spongberg of Edge Realty Partners is the broker for The Sydney.

The Sydney had been initially thought of as an office development and was on its way with leadership in the Salt River Pima-Maricopa Indian Community. Those plans were to build four buildings totaling between 535,000 to 750,000 square feet and geared toward large corporations looking for 50,000 square feet or more.

However, Lupien and Palmer Development pivoted those plans because of the Covid-19 pandemic's effect on how often companies would work in the office. Instead, Lupien targeted what he thought was a void that needed to be filled in the entertainment sector for central Scottsdale.