Desco Arizona LLC plans to construct a new hotel, “SLS Scottsdale,” in Old Town Scottsdale, with 235 guest rooms and five restaurants. Despite facing foreclosure auction proceedings, Desco aims to secure a new loan to proceed with the project. The development has faced delays and financial challenges, including a $25 million cost increase during the pandemic. Desco is working with Accor and Dakota Development on the project, with construction anticipated to start in the third quarter of this year and completion slated for the fourth quarter of 2026. The article highlights the project’s history, financial hurdles, and the involvement of key stakeholders in its development.
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