Scottsdale-based developers Pinnacle Group and Cavan Investments and Toronto-based Four Seasons are the masterminds behind the fractional ownership resort project. Last year, the partnership paid $12.5 million for 136 acres that back up to the Cocoino National Forest. Seller Phoenix-based NZ Corp is a land investment firm with thousands of acres of land in Arizona and New Mexico.
Des Moines-based Weitz Co. has nabbed the lucrative general contractor's award for the project. Clay Wells of The Weitz Co. Southwest Division tells GlobeSt.com that exact square footages and prices for the villas and casitas are still being determined by thedevelopers. He did say that 80 plus golf club memberships have been sold for the championship course, which has been under construction for more than a year. Wells is optimistic the project will be extremely popular among the snowbird crowd.
The 65,000-sf golf clubhouse will feature a pro shop, fitness center, spa and salon, formal and casual dining restaurants, swimming pool and locker rooms. Wells says the club house will be finished in 2003. The master plan calls for all villas and casitas to be ready to occupy between 2005 and 2006, depending on sales.
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