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Crescent Claims Gilbert Land, Plans 317-Unit MF Development
Charlotte, NC-based Crescent Communities, LLC acquired of 8.61 acres at Val Vista Square in Gilbert with plans for Novel Val Vista, a 317-unit apartment community. Val Vista Square is a 55-acre mixed-use development at Val Vista Drive and Pecos Road, north of the Loop 202.
Cleveland-based Gilbert Growth Properties LLC was represented by NAI Horizon’s Lane Neville and Logan Crum in the $7.5 million transaction.
Crescent Communities’ Ken Keefe says, “We are thrilled to begin our work on Novel Val Vista and look forward to breaking ground in early 2021. The community will feature a variety of amenity-rich offerings suited to the residents of the growing Phoenix market, including top-of-the-line finishes, a spacious and refined clubhouse, a luxury pool, sky lounge, fitness center and more.”
Park Corporation’s Morgan Neville says, “This transaction is a major milestone for our property, as Crescent Communities’ Novel Val Vista brings the critical living component to Val Vista Square and to our vision of creating the finest mixed-use community development in Gilbert.”
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