DMB Associates recently received a land-use permit from the city that gives the developer the green light to begin work on the Stack 40, a prime piece of raw acreage and one of the largest remaining concentrations of undeveloped commercial property in the city, located at the southeast corner of Scottsdale Rd. and Thompson Peak Parkway. "This piece of land has all the requirements for a successful venture," Robin Meinheart, of the city's planning and development services department, tells GlobeSt.com. "It will have huge economic benefits for the city."

The project, which encompasses land equivalent in size to metropolitan Tucson, will create "a mix of uses that will work well together," Meinheart says. Among the planned uses will be several hotels, a commercial and retail center and residential developments that will add 1,100 more homes to the northeast valley, making the area one of the densest in the valley.

The first phase of the project, set to begin in 2004, will create an auto complex, including a Lund Cadillac and other luxury car dealerships on 20 acres of adjoining land. The long-term project, which is expected to take about 20 years to build out, will also include improved transportation access to accommodate the development.