A new mixed-used project has been proposed for the downtown area.

Town staff is reviewing a plan that covers about 18 acres of downtown property, which includes the south side of Avenue of the Fountains between the civic center area and Saguaro Boulevard.

Several of the proposed buildings would be four stories high.

According to documents obtained by The Times through a public records request to the town, N-Shea Group LLC, a Scottsdale company, and the Gambacorda Family Trust have submitted the plan for a development known as Park Place.

The development proposal calls for 50,000 square feet of commercial/retail space, 400 multi-family housing units proposed as apartments and 91 assisted living/memory care units.

There is no movie theater complex in the proposal.

The assisted living facility is planned for 4.17 acres, multi-family residential on 3.08 acres and mixed use with commercial and multi-family residential on 10.61 acres that line Avenue of the Fountains.

According to the plan, the property is not to be developed in phases, but with three different districts to be developed separately based on market demand.

They are planned to be built in a contiguous fashion and completed over five years.

The assisted living component is proposed to be a 91-unit facility operated by MorningStar, a national company with two facilities in Phoenix.

The assisted living is proposed for the parcel of land immediately west of the Lexington Hotel.

A 100-unit, three-story apartment building would sit farther west across Verde River Drive immediately adjacent to the Community Center.

Two mirror image buildings would sit along Avenue of the Fountains on either side of Verde River Drive. They would each include 15,000 square feet of commercial/retail on the first floor with 115 housing units on three floors above.

A third mixed-use component would stretch west along the Avenue from Saguaro Boulevard and would include 20,000 square feet of commercial/retail at street level with 70 apartment units rising to four stories.

The developer is proposing the use of a shared parking model for the mixed-use development along the Avenue. Since there is a mix of uses on the site the shared model predicts varied times of use for commercial and residential.

The Planned Area Development package being sought from the town would allow the developer to combine a variety of uses under a single zoning umbrella, such as residential, different types of commercial (including restaurants and retail) and the assisted living use.

For decades there has been a struggle to get development in this area of downtown Fountain Hills. Numerous plans have come forward only to fail due usually to financial issues and lack of capital or ability to obtain financing.

One difference with this plan is that the property owner is involved in the development proposal. According to the Maricopa County Assessor’s records the property is already owned by Park Place Properties LLC.

Staff will work with the developer to assure compliance with land use standards. The plan will be presented to the Planning and Zoning Commission for its review and recommendation for the Town Council, which will have final say on approval for the PAD.

At this point there is no scheduled timetable for P&Z Commission review of the plan.