Five Star Development, the group behind the upcoming $2 billion project for the Ritz-Carlton resort in Paradise Valley, will be holding a one-day, private event for the first phase of the Ritz-Carlton Residences on June 11. The event is for property specific reservations, and is projected to bring in about $240 million. The 91 villas will surround the future resort, and vary from 1,500 to more than 4,000 square feet and $1 million to $5 million in price range. Five Star said the villas will be…