By City of Chandler
The Chandler City Council has unanimously approved a ground lease with a new subsidiary of Vesper Aviation, CHD Curtis East LLC, to build 29 new executive hangars for sale or lease at Chandler Municipal Airport, also known as CHD. Vesper Hangars, the new development, will span 113SKF located on the airport’s northern boundary, addressing growing regional demand for hangar space.
“Chandler has always been a city that invested in its future, and this development is a prime example of that commitment,” said Chandler Mayor Kevin Hartke. “This lease puts a dormant city asset to work, brings a proven aviation partner to Chandler, and delivers real value to taxpayers, all without putting a dime of public money at risk. This also is smart growth that benefits pilots, businesses and the East Valley for decades to come.”
Vesper Aviation develops, owns and operates FBOs and hangar facilities in Texas, California, Washington and Arizona, and continues to expand into other U.S. markets. The company is backed by aviation families, including professional pilots, an aviation mechanic and owners of multiple aircraft, who collectively bring experience developing, owning and operating more than 4MSF of facilities. That combination of firsthand aviation knowledge and operational experience informs Vesper’s long-term, hands-on approach to all its projects.
Under the terms of the 30-year ground lease, with a single 10-year extension option, CHD Curtis East will develop 4.798 acres of currently undeveloped land adjacent to an airport taxi lane. Within 24 months of lease execution, the company will deliver a minimum of 10 standard, four large, and two extra-large executive hangars. Over the project’s lifetime, Vesper Hangars will develop and sell or lease a total of 29 units.
The City will also receive 1% of the sale price each time a hangar changes hands or a long-term prepaid rental is executed, which provides ongoing revenue benefit to the community.
For information about the new hangars and to join the waitlist, visit Vesper Hangars and call or text 602-912-3531. For more general information about CHD, visit Chandler Municipal Airport. (Source: City of Chandler)
