Paradise Valley will soon be a whole lot busier. Five Star Development has undertaken the task of developing a 105-acre Ritz-Carlton project to the tune of $2 billion. On the southeast corner of Indian Bend Road and Mockingbird Lane, the development will consist of a 200-room Ritz-Carlton resort. It will have 91 villas as well as 40 other Ritz-christened homes. The added perk? This new development will officially have the longest pool in North America.

The prices of the villas range between $1 million and $5 million. As of last June, 89 of the 91 villas have already been claimed.

“Five Star Development remains the master developer and will continue to control and guide the quality level of the homes made available in the master plan, stated the President of the company, Jerry Ayoub. He continued, “Five Star has established the standard of luxury and aesthetic to ensure there is a synergy with the resort and all residences within the community.”

Adding to this lucrative deal, Five Star Development sold off 23 acres of land to Shea Homes for the amount of $45 million. The company plans to build 66 luxury-sized, single-family homes on the Ritz development site.

“Paradise Valley is the ideal location for Shea to announce our new luxury brand, “stated the Vice President of Sales and Marketing, Ken Peterson. He said,  “Known as the ‘jewel in the desert’ this area is a perfect match for the elevated living and lifestyle we will bring with Shea Signature.”

Five Star will continue their expansion of the Scottsdale area with their recently announced partnership with Dolce Vita Development LLC. Together, they are building a 19-acre, 160,000 square-foot development called, “The Palmeraie.” It will contain an eclectic mix of higher end retailers and restaurants.