Gilbert’s Heritage District still booming hot spot

(Town of Gilbert)

By Cecilia Chan | Gilbert Sun News

Since Gilbert designed its downtown as an area in need of an economic boost over three decades ago, the Heritage District has become a booming hotspot.

There are approximately 1 million square feet of existing commercial development with another 840,000 square feet approved with the anticipation of construction in the next five years.

“The Heritage District is outpacing other areas in Gilbert,” Redevelopment Project Manager Sydney Bethel Price told the Redevelopment Commission last week.

The Heritage District’s full cash value per acre increased 77% from 2018 to 2022, according to Price. It was just over $2 million an acre in 2022.

Price added that from Fiscal Year 2008 until the end of 2017-18, revenue from sales taxes in the Heritage District increased 177%.

READ ON:

Share this!

Additional Articles

Top master-planned communities for 2024

By AZ Big Media Here are the Top 10 master-planned communities in Arizona, based on public voting for the 2024 edition of Ranking Arizona, the state’s biggest and most comprehensive business opinion poll. Ranking Arizona

Read More »
News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.