By YourValley
The town of Gilbert acquired last month land zoned for apartments and will use it for stormwater management.
The town acquired the property Dec. 6 for $17.8 million from an entity tracing to Foxworth-Galbraith Lumber Co., according to commercial real-estate website vizzda.com. The land was zoned for multifamily-high density housing.
The land purchase is related to the management of stormwater needs in and around the Heritage District, according to the town. The land is near Elliot and Cooper roads.
For construction timing and efficiency, Gilbert has incorporated the relocation of the Vaughn Avenue Basin into the Vaughn Ventilator road capital improvement project, according to officials. The Vaughn Ventilator is meant to give road access from the west into the Heritage District.
