Housing development going forward near Gateway Airport
Jun 20, 2012, 7:09 AM | Updated: 7:27 am
PHOENIX — The first of what could eventually be thousands of homes at the old General Motors proving ground in Mesa goes up next year.
Developer DMB bought the land six years ago before the housing crash. The company shelved plans for building homes and focused on bringing big employers to the Phoenix-Mesa Gateway airport region.
Mark Stapp with the W.P. Carey School of Business at Arizona State University said the Eastmark community project has a lot working in its favor, starting with Gateway’s growth as a business magnet. The airport will be undergoing a $1.4 billion expansion.
“That area is and will continue to be for a long time a location for business formation and businesses to relocate to,” said Stapp.
DMB hopes to sell 800 homes next year and 15,000 homes, high-rise condos and townhouses in the Eastmark community over the next several decades.
Stapp has no doubt the project will be successful.
“That part of the Valley started to show signs of growth the earliest and is one of the most desirable submarkets in the Valley.”
