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PHOENIX-A local developer has plans to transform more than a third of the commercial land in Cave Creek into a mixed-use development, with 250-room hotel and as much as 432,000-sf of commercial space.

Phoenix-based Commercial Real Estate Consultants Inc. is planning to build a huge mixed-use project on a 45-acre parcel at the southeast corner of School House and Cave Creeks roads in Cave Creek, a suburb north of Scottsdale that so far has little development.

Commercial Real Estate Consultants is looking to build Cave Creek Town Center, which would include a 250-room hotel, up to 56 residential lofts, a 26,000-sf market and as much as 432,000 sf of commercial space. A three-level parking garage is also planned for the site.

Developers are negotiating with the city of Cave Creek on the plans, which still have to pass Council approval, and hope to begin construction as early as September 2001. Plans are expected to bein Cave Creek’s planning department in February.

If the project is approved, it would become the largest development project in Cave Creek, which has largely remained a rustic, western enclave, with dirt roads and quaint shops and restaurants.

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