By Adrienne St. Clair for Arizona Builder’s Exchange
Vedura Residential has submitted a project proposal to the Town of Gilbert to build a new multifamily development on the SEC of Santan Village Parkway and Boston Street.
The project, Elevation SanTan, will be 138KSF and sit on approximately 8.9 acres. It will consist of 297 new luxury units split up between multiple two- and four-story buildings.
Each individual unit will have a balcony and parking, and the finished community will include a clubhouse and pool area. The project is valued at $15M-$25M.
The site is currently vacant but is surrounded on all sides by developed property. Williams Field Road and the SanTan Village Regional Shopping Mall border the site to the north. SanTan Village Marketplace runs along the property to the south. To the east is Market Street and SanTan Village Marketplace and to the west is Santan Village Parkway, SanTan Flats and The Pavilions.
The developer states Elevation SanTan is a “highly-amenitized, urban scale for-rent community.” The proposal also states the new development “will provide a contemporary urban theme that complements and supports the adjacent retail, restaurants and surrounding Crossroads/SanTan Village Marketplace community.” That area includes a number of major retailers and even wholesalers like Costco and Sam’s Club. The property also has the major benefit of easy access to the Santan Freeway from both Williams Field Road and Santan Village Parkway.
No major zoning change is necessary, as the site is currently designated as Regional Commercial with Planned Area Development overlay – the designation needed by Vedura Residential to move forward. However, the owners are requesting an amendment to the PAD in order to increase the allowed building height from 35’ to 55’ and increase the density from 22 to 36 dwelling units/acre.
The development is designed to bring an urban edge to the area while still complying with the General Plan and design standard of SanTan Marketplace. According to the proposal, the result should be “enlivening, energetic and positive.” The landscape will include semi-arid low water use plants while still feeling lush in color, texture and form.
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