The Town of Gilbert has approved zoning for The Ranch, a first of its kind $1 billion, mix-use project. (Rendering provided by Indicap)
By AZRE
The boutique commercial real estate company IndiCap, who specializes in industrial investment and development in Arizona along with Colmena Group, a real estate development and investment company headquartered in Salt Lake City, and Arizona-based Langley Properties announced today, after a near 18 month negotiation with both the town of Gilbert and their neighbors, that the groundbreaking project has received approval on its zoning request and general plan amendment revisions, which clears the way for development of The Ranch.
The groundbreaking 311-acre mixed-use project, located on the west side of Power Road between Elliot and Warner Roads directly off the 202 Freeway, will be the first mixed-use development of its kind to be built in Gilbert, a growing suburb of Phoenix. At build out, the project will be valued at more than $1 billion.
“We are incredibly excited and grateful for the Town of Gilbert’s zoning approval, which solidifies our vision for this groundbreaking project,” said Todd Ostransky, Regional Vice President of Development for Indicap. “This development will not only serve as an economic catalyst, but also as a testament to our dedication in creating a sustainable and vibrant destination that meets the evolving needs of the Gilbert community.”
