McCormick Ranch Is Having a Moment: The Lakefront Update
Ground has officially broken on The Lakefront at Scottsdale, and it’s giving the old Chart House site a brand new chapter.
We recently reported on The Lakefront when Diversified Partners announced plans to transform the former Forever Corporate Plaza on the McCormick Ranch lake. Now it’s official. The project broke ground last month, with Scottsdale Mayor Lisa Borowsky and more than 200 guests on hand to mark the start.
Out With the Old, In With the New
If you’ve lived in the Scottsdale area for a while, this spot probably holds a memory or two. The site was home to The Chart House, which opened in 1984 and closed last year. For decades it was a go-to for waterfront dinners, and plenty of locals still think of it as part of the McCormick Ranch landscape. Longtime tenant Forever Living Products is staying put in the upgraded office space, so the property’s history carries forward even as the look changes. Diversified Partners is investing $70 million in the redevelopment, which will cover more than 100,000 square feet.
What the People Behind It Are Saying
The Mayor spoke to what this site means to the neighborhood. She grew up within two miles of it, and she told the crowd she expects creativity, luxury and a welcoming experience to lead the way while honoring the lake area. Walt Brown Jr., founder and CEO of Diversified Partners, has described the design as inspired by “modern Santa Barbara.” Ned Lyerly, CEO and managing partner of V Modern Italian, called The Lakefront a perfect setting to introduce his restaurant to Scottsdale. When the developer, the city and the restaurateurs are all this enthusiastic, it’s a good sign.
The First Restaurants Are Named
Diversified Partners announced three dining concepts at the groundbreaking. SUSHISAMBA has signed a letter of intent for about 12,000 square feet, bringing its mix of Japanese, Brazilian and Peruvian cuisine to the lake. V Modern Italian, whose menu was developed with a Michelin-starred chef, is expected to open in 2027. La La Land Kind Cafe will take a freestanding corner spot. Frost Gelato has also been reported as a tenant, and three of the restaurants are expected to have large patios, between 3,000 and 4,000 square feet each.
The Vision Is Coming Into Focus
Beyond dining, the plans call for boutique shops, Class A office space, a valet arrival lane and a small marina with Duffy boat rentals. The first phase includes converting 60,000 square feet of office space into restaurant and retail, and it could wrap up as soon as next fall. Everything is designed around views of the lake and Camelback Mountain.
Our Take
The Chart House earned its place in McCormick Ranch history, and it’s not easy to follow an institution like that. But when a developer invests $70 million and well-known restaurant brands line up to be part of it, it says something about where this area is headed. We’ll keep you posted as more tenants are announced.
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About Mattisinko Group | Scottsdale, Arizona
Rob and Dani are dedicated to educating and guiding you toward wise decisions. Armed with in-depth market knowledge, pricing expertise, custom marketing strategies, and sharp negotiation skills, this team can help you reach your real estate and lifestyle goals. Call 480-REALTOR (732-5867).
