The Valley developer behind the redevelopment of the CrackerJax amusement park is planning a five-acre infill project in Old Town Scottsdale.
The Scottsdale mixed-use project is called 5th & Goldwater and will feature a five-story multifamily residential building with 232 units and approximately 32,000 square feet of ground level retail, according to Scottsdale city documents.
The developer behind the project is Scottsdale-based FalconEye Ventures. It’s founder and CrowdStrike CEO Gorge Kurtz, along with known business partner David Megdal, are also working together on a billion dollar mixed-use project in Scottsdale called The Parque, at the former CrackerJax site. FalconEye Ventures submitted site plans for the first phase of that sprawling 30-acre project back in March.
An entity tied to Megdal — dubbed Old Town Waterfront LLC — purchased the four parcels needed for the 5th and Goldwater project for $36 million on June 14 from New York-based firm Pan Am Equities, according to Maricopa County documents.
A nearly 5,000-square-foot freestanding restaurant, a three-story motel, three retail buildings and a trio of two-story office buildings located on the site were demolished a few months ago. Construction is expected to begin once permits are secured, said Susan Smith, a FalconEye Ventures spokesperson for the project.
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