April 25, 2024 1:10 am
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Kyrene signs off on 77-year land lease worth millions

Photo submitted to Ahwatukee Foothills News

By Ahwatukee Foothills News

Kyrene School District officials have signed off on a 77-year lease with developer ViaWest for the use of a 28-acre parcel of land along the I-10 between Chandler Boulevard and Ray Road in Ahwatukee.

Governing board members unanimously gave final approval to the lease, hailing the promise of an annual source of funds.

“I believe it will be April of 2022 that we should get our first check in the mail and I’m sure that would be very exciting,” General Counsel Jordan Ellel told them.

ViaWest plans to build three industrial buildings that will mirror three it owns on a parcel in Chandler that’s parallel to the Kyrene land.

The lease provides for monthly payments totaling $240,000 next year, then $800,000 annually for the following five years.

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