Stalled Mesa mixed-use project gets second chance with new developer
The project formerly known as The Grid faced headwinds from the start amid the Covid-19 pandemic before stalling out for good last year.
Watch: The deadly truth about Kratom: A mother’s heartbreaking warning | 12 mins
For more than five years, the fate of a mixed-use development in downtown Mesa hung in the balance. The project formerly known as The Grid faced headwinds from the start amid the Covid-19 pandemic before stalling out for good last year.
About 15 months later, the 3.3-acre downtown project has new life after Mesa City Council unanimously authorized a ground lease agreement on June 2 with its new developer, Soltrust Main QOZB LLC.
A U.S. bankruptcy trustee coordinated with the city and selected Soltrust, a real estate developer with office footprints in Scottsdale and Seattle, to take over after The Grid’s previous developer — The Grid at Mesa LLC — filed for Chapter 11 protection in March 2024.
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.
Related
Waymo expands Phoenix service area by 55 square miles into East Valley
Which Arizona cities, counties, law enforcement agencies have stopped using Flock cameras?
Walmart announces $250K grant to boost workforce development opportunities in Arizona
Rival coffee chain questions Salad and Go’s deal with Dutch Bros
Arizona state land sales nearly double to $817.8M, fueled by major auctions
Walmart buys 38 acres along growing West Valley distribution corridor
Comments
1 Comments
Good. Let's hope it is truly mixed use and not just apartments over a nail salon.
Work toward combining it with a convenience store, drugstore or something useful to the tenants that will keep them of the streets to do basic shopping.