This week, RED Development announced that construction is underway on the $300 million development of The Grove, the highly anticipated mixed-use destination on the northwest corner of 44th Street and Camelback Road that features the recently announced hotel, The Global Ambassador, by restaurant innovator Sam Fox.
Arguably the most high-profile intersection in the Valley, the 15-acre development also features a signature four-story Class-AA office building, several ground-floor retail spaces and restaurants; two additional two-story office buildings; a self-storage facility by Hibernia Capital; a covered parking structure; and a luxury apartment building by StreetLights Residential. Completion of the first phase is expected in the latter half of 2022 with final completion and the hotel’s opening slated for fall 2023. The Grove is also home to the new, state-of-the-art Phoenix Suns and Phoenix Mercury private training facility that opened in late 2020.
“Between RED, Sam Fox and the Phoenix Suns and Phoenix Mercury, The Grove is being thoughtfully designed and created by local companies with proven track records for building exceptional developments,” said Mike Ebert, managing partner at RED. “On the office front, The Grove will feature the first new Class AA office campus in the area in close to 20 years. In the coming weeks, we’ll be announcing the first office tenants, which are currently set to surpass state records for price-per-square-foot leasing rates.”
Already making headlines around the country, The Global Ambassador is an internationally inspired hotel that will merge impressive hospitality, culinary and wellness experiences within one perfectly and precisely curated destination. The hotel will blend a refined and elevated hospitality experience created through a global lens and locally connected. Every detail of the well-appointed hotel has been meticulously poured over, studied and designed by Fox himself. Each element is purposefully designed to elicit one cultivated experience that is rich in charm and sophistication. As a dynamic restauranteur, Fox’s stellar lineup of inventive culinary offerings defines The Global Ambassador. The hotel boasts five original dining venues with cuisine influenced by the vibrant flavors found all over the world. The piece de resistance will be the Mediterranean rooftop restaurant that overlooks the iconic Camelback Mountain. The world-class amenity offering includes a Wellness Center complete with an expansive fitness level and ultra-luxe spa where health, beauty and fitness experts will curate treatments and practices designed to put the mind and body in perfect balance. Fox is co-developing The Global Ambassador with his trusted collaborator, business partner and friend Brian Frakes of Common Bond Development Group, a company known for its notable lifestyle development projects.
“I think this location at 44th Street and Camelback Road is the most prime piece of real estate in Arizona. It just doesn’t get better than this – the convergence of Phoenix, Scottsdale and Paradise Valley, plus it’s in my own backyard,” said Fox. “As with all of our projects, The Global Ambassador will be rooted in the surrounding community and the hotel will take that to the next level. When you first walk in, you’ll notice how open and all-encompassing the ground-level is, which allows travelers and locals to mix, mingle and connect. From one space to the next, the energy plays off one another. We want people to reconnect and celebrate being together. Welcoming people into our neighborhood is the premise and foundation of The Global Ambassador.”
The Grove will also be home to the fifth Arizona residential community by StreetLights Residential, a trusted leader in the multifamily industry that takes a design-centric approach to urban development. The building will feature 58 two and three-bedroom luxury apartment homes with custom design features and finishes including wood flooring, quartz countertops, mini bars, spa-like bathrooms with walk-in showers and premium Sub-Zero and Wolf kitchen appliances with custom ready finishes to match built-in cabinetry. The building’s amenities include a lobby with access to a full-service concierge, a clubroom and resident bar, two fitness studios and an elevated pool deck with private cabanas, lounge seating and outdoor fireplaces.
“We believe this is one of the best pieces of real estate in the state of Arizona, and we are excited to be part of this transformative project,” said Greg Nadeau, vice president of development over the Arizona region for StreetLights Residential. “We have carefully crafted our residential building to complement the architecture of the district, delivering sophisticated and boutique feeling apartment homes designed for a similar style of living experienced in the surrounding Paradise Valley and Arcadia neighborhoods.”
Demolition on the site’s former buildings is fully completed and the initial site work including the parking garage excavation, shoring, underground utility work and waterproofing is now complete. Footings and the office building columns are currently being poured.
“The Camelback Corridor is nationally recognized as the most prestigious office location for premier businesses in the Valley, and The Grove will only further enhance the strength and vitality of this area,” said Christine Mackay, director, Phoenix community and economic development. “As the first new Class AA office campus in two decades, we look forward to seeing the significant positive impact this development will have on the neighborhood in attracting world-class tenants.”
A wholly integrated commercial real estate company, RED Development maximizes asset value and performance for its high-quality retail and mixed-use portfolio that comprises 21 properties totaling 9 million square feet in 7 states. For more than 20 years, RED has been a preferred partner for national retailers and investors. The company also works with third-party property owners seeking RED’s expertise in remerchandising and repositioning properties to improve profitability and appeal. A privately held company headquartered in Phoenix, AZ, RED builds on its development capabilities as an active acquirer of existing properties.
The creation of restaurant innovator Sam Fox as his foray into the luxury hospitality world, The Global Ambassador is an internationally inspired hotel that merges impressive hospitality, culinary and wellness experiences within one perfectly and precisely curated destination. Where Phoenix, Scottsdale and Paradise Valley converge, The Global Ambassador blends a refined and elevated hospitality experience that is created through a global lens and locally connected. Every detail of the well-appointed, 141-room hotel has been meticulously poured over, studied and designed by Fox himself. Each element is purposefully designed to elicit one cultivated experience that is rich in charm and sophistication. As a dynamic restauranteur, Fox’s stellar lineup of inventive culinary offerings defines The Global Ambassador. The hotel boasts five original dining venues with cuisine influenced by the vibrant flavors found all over the world. The piece de resistance will be the Mediterranean rooftop restaurant that overlooks the iconic Camelback Mountain, at 18,000 square feet it will be the largest rooftop restaurant in the state. The world-class amenity offering includes a Wellness Center complete with an expansive fitness level and ultra-luxe spa where health, beauty and fitness experts will curate treatments and practices designed to put the mind and body in perfect balance. This is a convergence of significance found in hospitality, wellness and culture.
StreetLights Residential specializes in new urbanist apartment homes and mixed-use developments. Its business plan focuses on building around neighborhoods with the highest home prices (price per square foot). With in-house development, design and construction expertise, the StreetLights team focuses on building custom luxury communities which rival the experience, lifestyle and amenities of living in an urban boutique hotel. StreetLights has numerous urban infill projects throughout the country with more than 9,400 multifamily units completed, in progress or projected in 11 cities across six states. Since StreetLights’ inception in 2011, the company has grown to more than 150 employees in its development and construction companies and has offices in Dallas, Austin, Houston; Atlanta; Orlando, Fla; Phoenix; and, San Diego.
