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The recent closing of The Lakefront at Scottsdale marks an important milestone not only for Diversified Partners, but for the continued evolution of Scottsdale's waterfront. As one of the city's most recognizable lakefront properties enters its next chapter, the redevelopment reflects broader trends shaping how people live, work, dine and gather.
For Diversified Partners, the project is not just a redevelopment. It is an opportunity to thoughtfully reposition a landmark property for the next generation while preserving the qualities that have made it a destination for decades.
Originally developed in 1978, the property has long been a recognizable part of Scottsdale's waterfront. As redevelopment plans move forward, the focus is on preserving elements of the site's architectural character while modernizing the property to better serve today's community. With uninterrupted views of the lake and Camelback Mountain, the project is designed to encourage daily activity, extended visitation and long-term value for the surrounding community.
Throughout the planning process, the team has also listened closely to neighborhood feedback to help ensure the redevelopment complements the surrounding area and adds long-term value for residents, visitors and local businesses. 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 redevelopment reflects a broader shift toward experience-driven, mixed-use environments.
Key elements include:
Each component is designed to create a more connected and engaging destination.
Scottsdale's growth reinforces the significance of projects like The Lakefront. The city welcomed more than 11 million visitors in 2024, generating $3.7 billion in economic impact and supporting more than 36,000 jobs. Visitors spent approximately $2.4 billion locally and generated an estimated $75.8 million in tax revenue for the city.
Visitor preferences also continue to align with projects like The Lakefront. According to Longwoods International, shopping was the most popular activity among Scottsdale visitors in 2024, followed by sightseeing, celebrations and nightlife. These are all experiences that benefit from walkable, mixed-use destinations.
Beyond tourism, Scottsdale continues to benefit from strong demographics and a highly educated workforce. Three out of five Scottsdale residents over age 25 have earned a bachelor's degree or higher, while nearly half of all Scottsdale households earn more than $100,000 annually.
Taken together, these trends continue to reinforce demand for thoughtfully designed destinations that blend dining, retail, office and public gathering spaces into a cohesive experience.
The Lakefront represents more than a single redevelopment project. It reflects how Scottsdale is growing and how development is adapting alongside it.
Today’s most successful destinations are no longer defined by a single use. Instead, they bring together dining, retail, wellness, office and public gathering spaces in ways that encourage people to stay longer, engage more frequently and build stronger connections to the place.
With steady population growth and a strong tourism base, the city remains well positioned for projects that bring multiple uses together in one destination.
Looking ahead
The closing marks the beginning of redevelopment. As plans move forward, the Lakefront is positioned to bring new energy to Scottsdale’s waterfront while building on what already makes it a destination.
By bringing together dining, retail, office and public gathering spaces in one waterfront setting, the project aims to create lasting value for both the community and future generations of visitors.
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