Five Star, which bought the land from an affiliate of Marriott International, says the development will be the first Ritz-Carlton mixed-use project of its kind, combining a 225-room resort hotel, a residential development with villas, luxury homes and one-acre estate lots as well as a mixed-use component along Scottsdale Road.

Five Star snagged the development site in bidding that included several national and international companies. The land is located on the west side of Scottsdale Road between Lincoln Drive and Indian Bend Road. According to a Paradise Valley land-use plan for the project, most of the development site, about 105 acres, is in Paradise Valley, with the remaining 18 acres in Scottsdale.

A spokeswoman for Five Star tells GlobeSt.com that the development firm is working with city officials to secure entitlements for the project. Some details of the planning have yet to be determined, such as whether the housing component will include multifamily. The mixed-use component of the project most likely will include retail, but that has not definitely been established either, the Five Star spokeswoman says.

Five Star has not named an architect for the project yet nor set a tentative construction schedule. Five Star Development will own and develop the project, with the Chevy Chase, MD-based Ritz-Carlton Hotel Co. to operate the hotel and community under long-term management agreements. According to David Schmid, vice president of development for Five Star, the company's "most significant role" in the project will be as "stewards of this one-of-a-kind location."

Five Star, founded in 1978 by Texas real estate developer Jerry Ayoub, owns and develops hospitality, industrial, residential and retail in Texas, California, Arizona and Mexico. The company has completed 50 projects totaling more than 15 million sf.