Staff Reports | Business & Commerce
Diversified Partners has closed on a Scottsdale waterfront property that will be redeveloped into The Lakefront at Scottsdale, a mixed-use project planned for one of the area’s longtime lakefront sites.
The development is intended to transform the property into a destination featuring restaurants, retail, office space and public gathering areas focused on the waterfront setting.
Found east of Scottsdale Road near McCormick Parkway, the approximately 100,000-square-foot property will be redeveloped in phases and include restaurant, retail and office space designed around walkability and public gathering areas, according to a press release.
Originally developed in 1978, the property will retain elements of its existing architectural character while undergoing modernization. Project representatives said neighborhood feedback has been incorporated into the planning process to help ensure the redevelopment complements the surrounding community.
“This is one of the most exciting projects I’ve worked on in my career,” Diversified Partners CEO Walt Brown Jr. said. “The Lakefront represents an opportunity to create a true destination in Scottsdale, a place where exceptional dining, curated retail and beautiful waterfront spaces come together in a way that reflects the lifestyle and energy of this community.”
The development is planned to feature:
Restaurants with outdoor dining overlooking the lake
Boutique retail concepts
Wellness and lifestyle tenants
Class A office space with waterfront views
Restaurant spaces will be located on the south and west sides of the property, while retail storefronts will line a pedestrian-oriented promenade.
Plans also call for hospitality-focused amenities, including Forever Lane, a dedicated valet arrival area designed to serve visitors and tenants.
Additional features include a small marina with Duffy boat rentals, according to a press release.
Construction will occur in two phases.
The first phase is expected to begin in the third quarter of 2026 and will focus on demolition and renovation work intended to activate the restaurant and retail portions of the site. The second phase is anticipated to begin in early 2027 and will continue redevelopment of the remaining retail and office components.
Once completed, the project is expected to provide additional dining, retail and office opportunities along the waterfront, according to a press release.
The property is located within a Scottsdale submarket surrounded by resorts, golf destinations and residential communities.
Within a three-mile radius, the area includes more than 56,000 residents with average household incomes exceeding $205,000, according to a press release.
Mr. Brown said the project is intended to create a gathering place for residents and visitors.
“Our goal is to create something truly special here,” Mr. Brown said. “We’re building a place where people come to spend time, whether that’s enjoying dinner on the waterfront, meeting colleagues for lunch or simply taking in the atmosphere.”
