Diversified Partners, a real estate brokerage and development firm, has officially closed on a landmark waterfront property that will become The Lakefront at Scottsdale, a mixed-use redevelopment designed to reimagine one of the area’s most recognizable settings.
The project is being led by Diversified Partners and signals a major investment in reshaping the property into a destination centered on dining, retail, hospitality-driven experiences and walkable gathering spaces. Positioned east of Scottsdale Road off McCormick Parkway, the approximately 100,000-square-foot site will be transformed in phases, balancing design with elements of the property’s original 1978 architecture.
With sweeping views of the lake and Camelback Mountain, the redevelopment is designed to encourage longer visits and more daily activity, creating a connection between waterfront ambiance and the surrounding retail and dining environment.
“This is one of the most exciting projects I’ve worked on in my career,” CEO Walt Brown Jr. said. “The Lakefront represents an opportunity to create a true destination, a place where dining, curated retail and beautiful waterfront spaces come together in a way that reflects the lifestyle and energy of this community.”
Planned features include signature waterfront restaurants with expansive patios, boutique and experiential retail concepts, luxury wellness and lifestyle tenants, and Class A office space overlooking the lake. A pedestrian-focused promenade will weave through the property, activating the site with walkability and encouraging a steady flow of residents, visitors and professionals throughout the day.
Hospitality-inspired design elements will further elevate the experience, including Forever Lane, a dedicated valet arrival area that creates a welcoming entry point. The project also envisions a small marina with Duffy boat rentals, adding a resort-style amenity that enhances the lakefront setting and deepens the property’s appeal as both a leisure and social destination.
Construction is planned in two phases, beginning with demolition and initial activation work focused on restaurant and retail components. The first phase is expected to begin in the third quarter of 2026, followed by a second phase in early 2027 that will complete the remaining retail and office buildout.
Once finished, The Lakefront is expected to stand as a year-round destination for dining and gathering. Within a three-mile radius, the area includes more than 56,000 residents with average household incomes exceeding $205,000, underscoring its appeal for high-end tenants and experiential concepts. Learn more at dpcre.com.
