Independent Newsmedia | Yourvalley.net
Glendale annexed its largest property in two and a half years Tuesday, adding a 234-acre property that is planned to bring 4 million square feet of industrial space to the city.
The Park 303 property is spread over three parcels east of Loop 303 and on either side of Glendale Avenue. The properties will officially become part of Glendale 30 days after Tuesday’s vote — Thursday, June 25.
An economic study commissioned by Glendale estimated the annexed property will net $860,000 in revenue each year to the city. City Manager Kevin Phelps noted that these estimates are not exact because the city does not yet know exactly what business types will be built there. The study assumed 50% warehousing and 50% manufacturing on the property. Manufacturing yields more revenue to the city through taxes and fees, meaning the property could yield more than $860,000 with more than 50% manufacturing or less money with less manufacturing.
