Brian,
First question - are you maintaining this or do you have unlimited funds and can have someone handle this for you. Makes a huge difference in how much putting surface and fairway areas you create. I'd build flexible holes like #6 at Tobacco Road to create the greatest possible variety. The greens would be about 50 yards wide going one way and exceptionally shallow the other, with teeing areas everywhere. As a par-3, it could be anything from 250 yards with the green going the long way, to a flip sand wedge to the shallow dimension. There'd be knobs, hollows, a variety of bunkers, big open areas on the green, and then some tiny tongues sticking out. I'd try to create the same thing with one or two par-4's, with lots of width for bombing (and a large teeing area for general use as a practice range), but other angles (maybe created with trees) where it would be much tighter.