McCormick Ranch Is Getting a $70 Million Makeover. Here's Why Buyers Care

McCormick Ranch is the community that put lakes on the map in Scottsdale, and this fall it is making headlines again. The original master-planned neighborhood, built in the early 1970s on the former ranch of Fowler and Anne McCormick, is about to break ground on a $70 million lakeside dining and retail project along McCormick Lake. For buyers, the timing is interesting: lakefront values are climbing, golf and trail living come at a lower entry point than North Scottsdale, and the broader Scottsdale market just tipped a little further in buyers' favor. Here is what it actually feels like to live in McCormick Ranch in 2026, and what it costs.

Is McCormick Ranch a good place to live in Scottsdale?

Yes, and it has been for more than five decades. Spread across roughly seven square miles and more than 3,000 acres in central Scottsdale, McCormick Ranch is one of the largest and most established master plans in the Valley, home to tens of thousands of residents across 60-plus subdivisions. Its defining feature is water: two man-made lakes, the most famous being Lake Marguerite, ring the community, connected by more than 25 miles of walking and biking paths, parks, and greenbelts. It sits minutes from Old Town and Scottsdale Fashion Square, and it pairs a resort feel with some of the most mature, tree-lined streets in the city. It is also Scottsdale's original upscale community, the place that first proved a golf-and-lake lifestyle could thrive in the desert.

Why is everyone talking about McCormick Ranch in 2026?

Because the neighborhood is getting a dramatic new centerpiece. The Lakefront at Scottsdale, a roughly $70 million, 100,000-square-foot mixed-use project by Scottsdale-based Diversified Partners, is set to break ground along McCormick Lake in late September 2026. It redevelops the former Forever Corporate Plaza site on East McCormick Parkway, where The Charthouse restaurant operated until it closed in 2025. The plan pairs a modern Santa Barbara-inspired design with about four signature waterfront restaurants, including SUSHISAMBA, a celebrated Japanese-Brazilian-Peruvian concept, plus boutique retail, luxury wellness tenants, Class A office space overlooking the lake, and a pedestrian-focused promenade. The first phase could open as soon as fall 2027.

For residents, this is a big deal. McCormick Ranch has long been a quiet, residential enclave, and a walkable lakeside dining and shopping district changes the daily rhythm of the neighborhood while adding a fresh reason for buyers to seek it out. It is the kind of amenity refresh that tends to show up in both lifestyle and resale value.

How much does a home in McCormick Ranch cost in 2026?

Entry into McCormick Ranch is more attainable than North Scottsdale's luxury enclaves, but the range is wide. The latest published data varies by source and month: the Arizona Homes & Condos August 2026 report put the median sale price near $995,000 with about 62 days on market, while Redfin's most recent data shows a median near $1.1 million, about $456 per square foot, and roughly 60 days on market. Condos and townhomes typically run from about $400,000 to $700,000, single-family homes generally start around $1 million, and golf-front and lakefront estates climb past $3 million, with renovated waterfront homes holding the strongest values.

That range sits below Scottsdale's overall numbers, where the citywide median sale price is around $945,000 in September 2026 with roughly 3,150 active listings, up about 26 percent from a year ago, a sign of growing buyer leverage. With the 30-year fixed mortgage averaging 7.03 percent in late September 2026, per Freddie Mac, the sweet spot in McCormick Ranch tends to be the well-kept single-level patio home or a refreshed lake-adjacent property, where you get the community's signature lifestyle without the multi-million-dollar price tag of a trophy estate.

What is Lake Marguerite, and why are lakefront homes so rare?

Lake Marguerite is McCormick Ranch's signature body of water, ringed by some of the most coveted homes in central Scottsdale. The community's two lakes support fishing and non-motorized boating, which means kayaks, paddleboards, and quiet mornings on the water are part of everyday life for the homes that face them. Waterfront lots are the rarest and most sought-after in the neighborhood, and they command the biggest premiums, with lakefront and lake-view estates regularly trading above $1 million and well into the millions when renovated. If a lake view matters to you, these homes come up infrequently, so acting when one appears is usually the winning move.

What are the golf courses at McCormick Ranch like?

McCormick Ranch Golf Club anchors the community with two championship 18-hole courses, the Pine Course and the Palm Course, both par 72, laid out by renowned architect Desmond Muirhead. At roughly 7,000-plus yards each, they offer a classic desert layout with wide fairways, mature trees, and water in play, plus a driving range and restaurant, and they are open to the public year-round. Two resort hotels flank the courses, adding a resort feel to the neighborhood and making it easy for visiting family or out-of-town buyers to stay steps from your door. It is a different, more relaxed golf scene than the private clubs of North Scottsdale, and for many buyers that accessibility is exactly the appeal.

Who is McCormick Ranch right for?

McCormick Ranch suits a wide cross-section, but it is especially popular with downsizers, families, and executives who want the lakes, golf, and trails without the price and gated formality of communities like Silverleaf or DC Ranch. North Scottsdale's luxury tier runs to a roughly $1.3 million median, so McCormick Ranch offers a more accessible entry to a Scottsdale address, with lake and golf views at a fraction of that. The trade-off is that much of the housing stock dates from the late 1970s and early 1980s, so buyers often value renovation potential and location over turnkey finishes. For a full neighborhood-by-neighborhood comparison, my Scottsdale luxury living guide weighs McCormick Ranch against Silverleaf, DC Ranch, and the rest, and our recent deep dive on living in Scottsdale covers schools and day-to-day life across the city.

If you are ready to make an offer, understanding how a lakefront or golf-front purchase closes is worth doing before you write it. My guide to buying a Scottsdale luxury home from accepted offer to closing day walks through the escrow, inspections, and cash-versus-financed decisions that matter most at this price point.

Whether you are searching for the best luxury realtor in Scottsdale or simply exploring what a lakefront lifestyle actually costs, the smartest first step is current numbers for your specific neighborhood, not generalizations. Recent sales, pricing trends, and what your budget buys right now, that is exactly what I bring to every conversation.