The Parque: North Scottsdale's $1 Billion Development
If you've driven Scottsdale Road near the Loop 101 and wondered what's happening at the former CrackerJax site, this is one development worth paying attention to.
The Parque is a planned mixed-use development at 16001 N. Scottsdale Road, just north of Scottsdale Quarter and Kierland and near the Scottsdale Airpark. And this isn't a small project.
The approximately $1 billion development is planned to bring residences, restaurants, retail, a hotel, office space and a significant amount of outdoor space to roughly 30 acres along one of North Scottsdale's busiest corridors.
For people who live, work or own property nearby, The Parque could be another important piece of North Scottsdale's continued transformation into a more connected, mixed-use environment.
What Is The Parque?
The Parque is being developed on the former CrackerJax site along Scottsdale Road. The overall approved development plan allows for approximately 1,200 residential units, a 223-room hotel and 253,000 square feet of commercial space.
Rather than creating another traditional shopping center or isolated residential community, the vision is to combine places to live, work, eat, shop and spend time outdoors within the same development.
A central feature is planned to be a large public green space surrounded by buildings, restaurants and pedestrian areas. That's an important distinction.
North Scottsdale has plenty of amenities, but it has historically been a relatively car-dependent area. Projects like Scottsdale Quarter and Kierland Commons helped introduce a more walkable model, and The Parque appears positioned to continue that evolution.
What's Planned for Phase One?
Phase One gives us a better idea of what the project could eventually feel like. Plans approved by Scottsdale's Development Review Board include approximately 690,000 square feet of development with:
- 159 residential units
- Restaurant space
- Retail
- Fitness uses
- Significant landscaped and pedestrian areas
- A central park/open-space component
The residential portion is expected to include both apartments and condominiums, creating another housing option for people who want to live close to North Scottsdale's employment, dining and shopping centers.
The larger master plan also includes a hotel, additional residential development and commercial space that would be built over multiple phases.
The Location Is What Makes This Particularly Interesting
The Parque sits in a very strategic location. Just south are Scottsdale Quarter and Kierland Commons. Across and around the corridor are the Scottsdale Airpark, employment centers, retail and dining, while Loop 101 provides quick access to the rest of the Valley.
Nearby The Promenade Scottsdale is another major commercial destination along the same stretch of Scottsdale Road. A little farther east, Cavasson is developing its own major live-work environment with offices, residences, restaurants and hospitality.
Taken together, these projects are changing the character of this part of Scottsdale. It isn't simply an area where people commute to work or drive to dinner anymore. It's increasingly becoming somewhere people can live, work, shop, dine and spend their free time within the same general area.
Why the Green Space Matters
One of the most interesting pieces of The Parque is right in its name. The development has been designed around a substantial central park and a network of landscaped pedestrian areas. Creating density is one thing. Creating density that people actually enjoy living around is another.
Shade, landscaping, gathering areas and walkability can make a significant difference—particularly in a climate where thoughtful outdoor design matters. If executed well, the park could give the development more of a neighborhood feel rather than simply becoming a collection of large buildings.
What Could The Parque Mean for Nearby Real Estate?
This is the part I'll be watching closely. Large developments don't automatically increase surrounding property values, and I wouldn't tell a homeowner that The Parque alone is going to make their home worth more. But developments of this scale can change how buyers perceive an area.
More restaurants, retail, housing, employment and entertainment can make nearby neighborhoods increasingly attractive to buyers who value convenience. That's particularly relevant for properties in and around 85254 and 85260, as well as nearby North Scottsdale communities.
For someone relocating to Scottsdale for work, being able to live close to restaurants, shopping, fitness, entertainment and major employment centers can be a meaningful advantage.
For investors, additional employers, residents and visitors can also create new demand, but the addition of substantial multifamily inventory means supply needs to be considered as well.
There's a Bigger North Scottsdale Story Happening
The Parque becomes even more interesting when you stop looking at it in isolation. Cavasson, near Loop 101 and Hayden Road, is planned as a 135-acre mixed-use development with approximately 1.8 million square feet of office space, 1,600 residences, hotels, restaurants and retail.
Scottsdale Quarter and Kierland are continuing to evolve. New residential projects are appearing throughout the Scottsdale Airpark corridor. And now The Parque is preparing to transform a large, long-underutilized site along Scottsdale Road.
Collectively, these developments are creating a different version of North Scottsdale—one with greater residential density, more employment, more restaurants and services, and more opportunities to live closer to the places people already frequent.
My Take
The Parque isn't going to change North Scottsdale overnight. But I do think it's part of a much bigger shift. For years, Scottsdale's most recognizable concentration of restaurants, entertainment and walkability was farther south around Old Town. North Scottsdale is increasingly developing its own version.
Between Kierland, Scottsdale Quarter, the Airpark, Cavasson and now The Parque, we're seeing more reasons for people to live, work and spend their time in North Scottsdale without having to travel south. For buyers, homeowners and investors, that's something worth paying attention to. And as The Parque moves from plans and renderings into actual construction, I'll be watching not only what gets built—but how the surrounding real estate market responds.
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The City of Scottsdale also has the project's official site plans and planning documents available. The current approved Phase One includes 159 residences along with restaurant, retail and fitness uses, and the preliminary plat for the larger 32.29-acre site is still active. More information can be found here: https://eservices.scottsdaleaz.gov/bldgresources/Cases/Details/53990?utm.
