As part of the project, the hotel would add 380 rooms, create almost 8,000 square feet of resort-oriented retail space, add about 16,000 square feet of administrative offices and construct 44 casitas that may be put up for sale on the residential market.

The proposal also would renovate 51 existing guest cottages and introduce a 25,000-square-foot spa.

One of the first resorts in the Valley, the historic property is owned by Boston-based Pyramid Hotel Group and Morgan Stanley, Wood said. It is part of the Waldorf Astoria Collection and managed by the Hilton Hotels group.

The proposal is working its way through the application process and a formal hearing date in front of Phoenix's full Planning Commission has not been set. The Phoenix City Council also must approve the project before construction begins.

Story courtesy of The Phoenix Business Journal