If you've heard someone say "PV is adding a ton of new stuff this year," you've probably pictured one thing when two different things are actually true at once. There's the Town of Paradise Valley, the low-density enclave tucked between Camelback and Mummy Mountains where resorts like Camelback Inn and Sanctuary have anchored the local economy for decades. And there's "PV," the branded name for the roughly 100-acre redevelopment of the old Paradise Valley Mall site, which sits north of the town line, across the border in Phoenix at Cactus Road and Tatum Boulevard.
Both are having real growth years in 2026. Almost none of it is connected. And the single most talked-about project of either story, a Ritz-Carlton that was supposed to open this spring, just slipped a year in bankruptcy court while quieter things opened without much fanfare.
Here's where things actually stand, town versus redevelopment, open versus delayed:
| Project | Location | Status as of August 2026 |
|---|---|---|
| Ritz-Carlton, The Palmeraie | Town of Paradise Valley | In Chapter 11 restructuring; hotel opening now tracking toward 2027 |
| Kimpton Miralina Resort & Villas | Town of Paradise Valley | Open since Jan. 7, 2026 |
| Mountain Shadows | Town of Paradise Valley | Open, with discounted summer rates and a golf pass running through Sept. 20 |
| Life Time Paradise Valley | PV redevelopment, north Phoenix | Open since April 30, 2026 |
| Harry & Izzy's | PV redevelopment, north Phoenix | Opening Aug. 26, 2026 |
The Project Everyone Was Waiting For Just Slipped a Year
For most of last year, if you asked a Paradise Valley resident what was new, the answer started with The Palmeraie, the master-planned community anchored by a Ritz-Carlton hotel and its promised centerpiece restaurant, Mott 32, the Hong Kong-born Cantonese concept opening its first Arizona location and only its second in the entire country. Early announcements pointed to a spring 2026 debut.
That timeline changed in November 2025, when developer Five Star Development filed for Chapter 11 bankruptcy protection to halt a foreclosure attempt from its lender, Madison Realty Capital, according to reporting from the Arizona Republic. The bankruptcy court has since approved new financing to keep the project moving, and by July 2026 the developer had reached a term sheet with its lender to provide additional liquidity during restructuring, per Phoenix Business Journal coverage. A Texas bankruptcy judge, where the case is being heard, also cleared the way in December 2025 for villa sales at the property to continue even as hotel construction stayed paused. Several dozen villas have reportedly closed already, separate from the hotel timeline.
The upshot for anyone who's been waiting for the big one: the hotel and Mott 32 are now tracking toward 2027 rather than the spring 2026 date first announced. Keep it on the calendar, just not this year's calendar.
What Actually Opened While Everyone Was Watching That Corner
A mile away, a much less publicized project quietly finished. Kimpton Miralina Resort & Villas opened Jan. 7, 2026, following a $42 million renovation of the former Scottsdale Plaza Resort by Trinity Investments and Partners Group, according to Hotel Online's coverage of the opening. The property debuted with 224 guestrooms and 36 casitas, phase one of a planned 404 keys, along with six pools and more than 50,000 square feet of event space.
The signature restaurant, Hecho Libre, comes from chef Wes Avila, recognized by both the Michelin Guide and the James Beard Foundation for his California and Mexican cooking. Colm O'Brien was named managing director on Feb. 25, 2026, to run day-to-day operations. Because the property was built to keep 224 rooms of guests entertained without leaving the grounds, the spillover for residents is real: a mid-week bar seat, a spa opening, a pool day pass, or a quiet lounge that's actually available on a Tuesday.
The Golf Pass That Actually Pencils Out
Mountain Shadows didn't need to open anything new this year. It just repriced itself for the people who already live here. Summer rates, running June 1 through Sept. 30, waive the resort fee entirely and start at $159 on weeknights and $199 on weekends, with no-deposit booking and a seven-day cancellation window, an unusually loose policy for a Paradise Valley property.
The golf side is where the math gets interesting. The Short Course, an 18-hole par-3 layout, comes with a Summer Golf Pass priced at $399 plus tax for the season, running May 26 through Sept. 20, 2026. The pass allows up to 36 holes a day, with tee times open anytime Monday through Thursday and after 10 a.m. Friday through Sunday. Play it six or more times over that sixteen-week window and the pass already beats paying per round. Play it hard through the summer and the effective cost per round pushes down toward the price of a fast-food lunch. It's the kind of deal built for someone who's already local, not for a visitor booking a single tee time.
A New 91,000-Square-Foot Front Door, Two Miles North
Back at the redevelopment in Phoenix, Life Time opened its Paradise Valley club on April 30, 2026, a 91,000-square-foot facility at 12800 N. Tatum Blvd, according to the company's own announcement. The club includes a rooftop pool deck with a lap pool and lounge seating for 300, seven pickleball courts split between three indoor and four outdoor, a full workout floor, and a dedicated recovery space with cold plunge and compression therapy. An 11-story, 327-unit residential tower called Life Time Living is planned next door, with completion targeted for 2027.
This is the clearest example of the naming overlap causing real confusion. Life Time Paradise Valley sits inside the PV redevelopment, which is in Phoenix, not inside the Town of Paradise Valley where Kimpton Miralina and Mountain Shadows actually operate. Same name, different jurisdiction, different growth story entirely.
The Corner at Cactus and Tatum Keeps Filling In
The rest of the PV redevelopment has been adding tenants steadily since its first restaurants opened in fall 2024. Whole Foods Market relocated its Phoenix store into the development in October 2025, moving into a space topping 50,000 square feet and stocking more than 330 items made or grown in Arizona, replacing a smaller store that had operated near Shea and Tatum boulevards for 22 years, per Phoenix New Times reporting. Trevor's Liquor took over the former Sears Auto Center on Tatum with a 14,000-square-foot space that includes a full-service bar, a pizzeria, a golf simulator, a cigar lounge, and a dog-friendly patio. Velvet Taco is already open.
Two more are landing soon:
- Harry & Izzy's, the Indianapolis steakhouse group, opens Aug. 26, 2026, according to the restaurant's own site, facing the development's central park where live music and events are staged.
- The Vig, the Arcadia-born neighborhood tavern now on its eighth Valley location, is expected to open late this summer or early fall, next door to Harry & Izzy's on the same greenspace corner.
None of this is happening inside the Town of Paradise Valley itself. It's a few blocks north, in Phoenix, wearing the same name.
One Closure to Actually Plan Around
If you hike, this affects you in the next two weeks, not next year.
Cholla Trail on Camelback Mountain will be closed for construction Aug. 17 through Aug. 28, 2026. During the closure, access the mountain instead through Echo Canyon Trailhead at 4925 E. McDonald Dr., according to the City of Phoenix parks department.
Echo Canyon has its own parking limits and fills fast on weekends even without the extra traffic from Cholla regulars rerouting, so an early start matters more than usual for that stretch.
The Pattern Underneath It All
Paradise Valley the town has a reputation for adding almost nothing for years at a stretch, then adding several things at once when it finally moves. This is one of those years, but the burst split unevenly. The Town of Paradise Valley got a finished resort in Kimpton Miralina and a repriced Mountain Shadows, while its most ambitious project sits in bankruptcy reorganization with a 2027 target. The Phoenix side of the map, still called "PV" by habit, got a new athletic club, a relocated grocery store, and a restaurant lineup that keeps growing on its own schedule.
Neither story needs the other to be interesting. But mixing them up means either overestimating what's ready in the town or underestimating what's already open a few minutes north.
If any of this has you wondering what a summer this active means for your own property here, the team at Jonny West Real Estate tracks these shifts as they happen, not after they've settled. Schedule a free consultation whenever you're ready to talk specifics.
