The combination of a wide angle timing Cherenkov array and Imaging Atmospheric Cherenkov Telescopes operated in mono mode offers a cost-effective way to construct a few square kilometers array for ultrahigh-energy gamma astronomy. The first stage of the TAIGA Observatory (Tunka Advanced Instrument for cosmic ray physics and Gamma Astronomy) is described here. It will comprise TAIGA-HiSCORE - 120 wide angle Cherenkov stations distributed over an area of 1.0 km2 and three IACTs (TAIGA-IACT).