The Scottsdale City Council recently gave the green light to The Parque, a large-scale development that is estimated to be worth more than $1 billion and measures 32 acres. The land was previously occupied by the CrackerJax amusement park, located close to the Scottsdale airport.

The site situated at the junction of Scottsdale Road and Paradise Lane has plans for multiple structures of mixed use, and a two-acre “central park” green space, open to the public.

The complex will feature over 250,000 square feet of commercial space, as well as a hotel and residential building with up to a total of 1,322 rooms and apartments.

Scottsdale Mayor David D. Ortega expressed his excitement at the Parque being developed into a landmark in the city, stating that it embodies the ideals of sustainable development. He further highlighted the huge success it represents for Scottsdale as it brings a top cyber security employer and other associated national security entities.

A recommendation from the Scottsdale Planning Commission was unanimous, which preceded the approval of the City Council.

Submitting an application to the Scottsdale Development Review Board for the first phase of the process is the next step.

In 2022, George Kurtz, the billionaire co-founder and CEO of CrowdStrike, purchased the property for $55.5 million and he is the force behind The Parque.

The plan is to construct the project in several stages.