FIVE-STAR DEVELOPMENT INITIATES CHAPTER 11 TO PROTECT THE RITZ-CARLTON PARADISE VALLEY AND ADVANCE COMPLETION OF THE PALMERAIE PROJECT

FIVE-STAR DEVELOPMENT INITIATES CHAPTER 11 TO PROTECT THE RITZ-CARLTON PARADISE VALLEY AND ADVANCE COMPLETION OF THE PALMERAIE PROJECT

PARADISE VALLEY, Ariz. and SCOTTSDALE, Ariz., Nov. 4, 2025 /PRNewswire/ -- Five Star Development, LLC and affiliated entities (together, "Five Star" or the "Company"), including those developing The Palmeraie, today announced that it has filed voluntary petitions for Chapter 11…

Developer of Ritz-Carlton Paradise Valley Files Chapter 11, Aims to Complete Construction

Five Star Development, LLC and affiliated entities , including those developing The Palmeraie, announced that it has filed voluntary petitions for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. The filing is intended to create a clear, court-supervised path toward completing The Ritz-Carlton Paradise Valley, The Palmeraie—a 122-acre master-planned…