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Multi-Use Project Funded Near Phoenix
Heritage Park is a commercial, mixed-use location in Phoenix’s Southeast Valley – and Heritage Park is about to see some development.
The players in the joint venture near Gilbert, Arizona’s Heritage District:
- Creation, a Phoenix-based alternative investment and real estate development firm
- Crescent Communities, a nationally-recognized, market-leading real estate investor, developer, and operator of mixed-use communities,
- FCP, a real estate investment firm
With recent rezoning approval, breaking ground is expected to begin Q3 2022, per a news release. The project will include a +/- 154,000 square-foot five-story office building, a 100-room hotel, a 288-unit apartment community, and room for five or more on-site restaurants and retail destinations via +/- 36,000 square feet of retail space.
“This (Gilbert) project has been in the works for several years and our team could not be more excited to get it started,” said Creation Co-founder David Sellers.
Gilbert is currently growing at a rate of 1.6 percent annually and its population has increased by 27.95% since 2010.
- ◦Development
- ◦Financing
- ◦Policy/Gov't
