Mixed-use project planned west of Lake Pleasant, an article from the Phoenix Business Journal, reports that two local investment and development firms are creating a 4,900-acre mixed-use, master-planned community on the west side of Lake Pleasant.

The Cardon Group of Mesa and Harvard Investments in Scottsdale recently purchased about 1,110 acres north of Highway 74 near 211th Avenue for about $10.5 million.

The proposed community, called Lake Pleasant 5000, is within the Surprise general planning area in Maricopa County. Wil Cardon, president and CEO of The Cardon Group said, "It's one of the last contiguous big pieces with great slopes and great views of the Valley. It's like buying land in the early 1900s around Camelback Mountain. It literally feels like sacred ground." Once completed, the project is expected to include 8,500 housing units, 170 acres configured as an employment center, retail development, a golf course and a resort.