Diversified Partners has officially closed on the landmark Scottsdale waterfront property that will become The Lakefront at Scottsdale, a mixed-use redevelopment designed to revitalize one of the area’s most recognizable lakefront sites. The Lakefront at Scottsdale represents the revitalization of a landmark waterfront site in Scottsdale, transforming a long-established location into a destination for dining, curated retail and gathering spaces. The development integrates hospitality-driven experiences with thoughtfully designed public spaces that connect the lakefront environment with surrounding retail and restaurant uses.

With uninterrupted views of the lake and the iconic Camelback Mountain, the project is designed to encourage daily activity, extended visitation and long-term value for the surrounding community. Located just east of Scottsdale Road off McCormick Parkway, the approximately 100,000-square-foot property will be redeveloped in phases into a destination featuring restaurant, retail and office space centered around walkability, gathering spaces and waterfront activation.

Originally developed in 1978, the redevelopment will preserve elements of the property’s longstanding architectural character while modernizing the site to better serve the evolving needs of the Scottsdale community. The project team has also worked closely with neighborhood feedback throughout the planning process to ensure the redevelopment complements the surrounding area while adding long-term value for residents and visitors alike.

“This is one of the most exciting projects I’ve worked on in my career,” said Walt Brown Jr., CEO of Diversified Partners. “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 Lakefront at Scottsdale will feature a thoughtfully curated mix of uses, including:

• Signature restaurants with outdoor dining overlooking the lake
• Boutique and experiential retail concepts
• Luxury wellness and lifestyle tenants
• Class A office space with waterfront views

Restaurant spaces will occupy the south and west sides of the property, offering lakefront patios and views of Camelback Mountain, while retail storefronts will create an active pedestrian promenade throughout the development. The project will also incorporate hospitality-inspired elements designed to elevate the visitor experience, including Forever Lane, a dedicated valet arrival experience that creates a seamless and welcoming entrance for guests. Additional waterfront features include a small marina with Duffy boat rentals, further enhancing the resort-style environment and providing a unique amenity for visitors and tenants alike.

Construction for The Lakefront will occur in two phases, beginning with demolition and renovation work focused on activating the site’s restaurant and retail environment. Construction is expected to begin in the third quarter of 2026, with the second phase anticipated to begin in early 2027 and continue the redevelopment of the remaining retail and office components. Once complete, the development will establish a new waterfront destination designed to attract both residents and visitors while supporting Scottsdale’s growing demand for experiential retail and dining environments.

“Our goal is to create something truly special here,” Brown added. “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.”