Nearly 30 years of planning and development have languished on a 27-acre site at the SWC of University and Mesa drives, including a planned water park/resort that never materialized and other tentative development agreements that never came to pass.
Now, however, the City of Mesa is optimistic about a partnership with Miravista Holdings that could transform the Transform 17 site (also known as Site 17) into a residential-focused mixed-use development that would finally bear fruit.
Mesa spent $6M to acquire and demolish 63 homes on the site starting in 1996 in expectation of a developer building the Water Verde resort. That plan was withdrawn when the developer could not line up funding.
Mesa and Miravista Holdings entered into an agreement last year to develop a master plan for the site. Miravista is assembling the plan in cooperation with Gensler.
The proposal calls for 800-850 market rate units that include apartments, townhomes and live/work units along with 200KSF of office, 30KSF of commercial space and a parking garage. Any portion of the eight-segment plan can be built in any order after the first phase is complete, depending on market needs.
The first planned development features 375 apartments and 44 single-family townhomes as for-sale residences.
The City is scheduled to sign a deal with Miravista in August, after which the company would purchase the first two blocks of property and then complete construction within two years after that.
Development incentives include Mesa reimbursing Miravista for up to 75% of the land purchase if the developer makes public improvements, such as a linear park and streetscape improvements. Temporary tax waivers on some development blocks in the master plan are also possible.
Miravista will hold neighborhood meetings on April 7th and 14th.
Earlier resident preference statements expressed strong interest in a grocery store on the property. Miravista officials have said a 12KSF portion of the commercial space would be an excellent location for such a tenant but that they cannot guarantee a grocery store will be interested in the property. (Source)
