With very few empty sites to build new homes one company is finding space on the former site of the Mountain Shadows Marriott Resort.
New homes soon will go up on the former site of the Mountain Shadows resort in Paradise Valley.
Cullum Homes plans to build 40 multimillion-dollar houses on the eastern edge of the 68-acre site at 56th Street and Lincoln Drive. The $100 million development is called the Village at Mountain Shadows. Cullum Homes is a second generation, family owned full service Design/ Build/ Renovations firm specializing in luxury custom home design and construction.
The one-story houses, ranging from 3,300 to 4,600 square feet, could double in size if buyers opt for the deluxe basement being offered.
Homebuyers will also get a membership to work out and golf, as well as other privileges, at the boutique hotel planned for most of the former Mountain Shadows site.
Cullum paid Crown Realty $23 million, or $575,000 per lot, for 10 acres of the site in early July.
“Prices for the homes will start at $2.1 (million) and go up from there,” said Rod Cullum, owner of Cullum Homes. Already, he said almost a dozen potential buyers have put down a refundable deposit for a Mountain Shadows house.
Paradise Valley is landlocked and has few empty sites left to build homes.
Cullum said construction of model homes will begin in early October. One of the models will have an elevator from the garage down to a glass-walled basement.
Plans are being finalized for the hotel, which could have 100 rooms and 100 casitas.
The 55-year-old Mountain Shadows resort was demolished early this year after being closed since 2004.
Crown Realty bought the resort for $42 million in January 2007, according to commercial real estate research firm Vizzda.
Another 100 new homes could be built on the property.
The Mountain Shadows Marriott Resort and Golf Club in Paradise Valley has been closed since 2004, and was demolished early this year.