$6.5 million in street bonds to help Eastmark economic development

With more than 50 floorplans, Eastmark builders offer a wide variety of home styles and sizes to fit almost every need.
With more than 50 floorplans, Eastmark builders offer a wide variety of home styles and sizes to fit almost every need.

By Gary Nelson | The Republic | azcentral.com

When Mesa voters approved $79.1 million in new bonds for street projects this month, the city said it would set aside $10 million of that for unspecified work tied to economic development.

Now we know where a big chunk of the $10 million will go.

The city council this week approved a financing mechanism for public infrastructure in southeast Mesa’s Eastmark development, and the bonds are a key component. About $6.5 million of the bonds will be funneled into that one development.

Eastmark, a mixed-use community on 5 square miles of the former General Motors Desert Proving Ground, is being developed by Scottsdale-based DMB Associates. It will have everything from heavy industry to upscale executive housing, and over time may include dense high-rise urban nodes.

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