The Suns, of course, have been in talks with the city of Scottsdale for years, and it was announced Wednesday that they would be the beneficiaries of a $1.2 billion land development project.
The Suns are also expected to receive $1 million in public funds in exchange for their support of the development.
The proposed development includes a hotel and office tower that would create approximately 3,000 new jobs in Scottsfield.
The project would also include a new medical facility for local doctors.
The development is expected to create approximately 5,000 permanent jobs in the city and would bring approximately $2.5 billion to Scotts, Ariz., during the first three years.
The project is expected for completion in 2019.
The site is located in the former Scotts County Detention Center, which is located approximately a mile south of the proposed development.
Construction is expected beginning in 2020.
The property will have approximately 200 residential units, including a hotel with rooming houses and apartments.
The new development will be approximately 1,300 feet north of the current Phoenix airport.
The site is owned by the city, which owns the existing airport property.
The plan is for the site to be developed and maintained as an open-air facility with an approximately 500-acre parcel.
The Phoenix Suns and Scotts Valley Unified School District have been partners for years in the development of the Scotts Arizona Airport.
The city of Phoenix and the Suns have been collaborating on the project for over a decade, and the city received a $5 million grant from the state of Arizona to assist in the project.