Via the City of Mesa
By Cecilia Chan | The Mesa Tribune
Soletrust could bring a hotel to the site of The Grid, an unfinished multi-use project sitting dormant on 3 acres of city-owned land at the southwest corner of Main Street and Pomeroy in downtown Mesa.
City Council last week approved without comment a ground lease and other agreements, clearing the way for the developer to buy the building out of bankruptcy court. The developer also has negotiated settlement of all 32 claims against the bankruptcy estate, according to the city.
“This has probably been one of the most frustrating projects we’ve all been involved in for some time,” City Manager Chris Brady said at his last study session the week prior, where the deal was discussed at length. “We had great aspirations for this mixed-use development downtown — lots of pretty pictures, lots of excitement, high school bands, everything.
“And here we are and at one point we were stuck with a shell. This is a big relief that we’re going to be able to take a project at 60%, have a developer come in and finish it off.”
