What's Hot

    Split Vote Complicates Plans for VAI Resort

    May 28, 2025

    Safford Approves 165-Unit Multifamily Development

    May 28, 2025

    JDM Proposal Reimagines Biltmore Infill Project

    May 27, 2025
    Facebook Twitter Instagram
    AZBEX
    NEWS TICKER
    • [May 28, 2025] - Split Vote Complicates Plans for VAI Resort
    • [May 28, 2025] - Safford Approves 165-Unit Multifamily Development
    • [May 27, 2025] - JDM Proposal Reimagines Biltmore Infill Project
    • [May 27, 2025] - $500M Whiteriver Hospital Preparations Advancing
    • [May 27, 2025] - Peoria Council Approves $1.9B 10-Year CIP
    • [May 27, 2025] - Industry Professionals 05-27-25
    • [May 27, 2025] - Commercial Real Estate 05-27-25
    • [May 23, 2025] - Laveen Towne Center Plan Advances, Expands
    Facebook Twitter YouTube LinkedIn
    • Home
    • News
      1. View Latest
      2. Planning & Development
      3. Local News
      4. Classifieds
      5. Editorial Analysis
      6. Budgets & Funding
      7. Commercial Real Estate
      8. People on the Move
      9. Arizona Projects
      10. Legislation & Regulations
      11. Trends

      Split Vote Complicates Plans for VAI Resort

      May 28, 2025

      Safford Approves 165-Unit Multifamily Development

      May 28, 2025

      JDM Proposal Reimagines Biltmore Infill Project

      May 27, 2025

      $500M Whiteriver Hospital Preparations Advancing

      May 27, 2025

      EdgeCore 44-Acre Mesa Land Buy Sets Up Massive Expansion

      May 23, 2025

      Ariz. Construction Added 2,400 Jobs in April

      May 21, 2025

      Phoenix Considering Data Center Development Restrictions

      May 21, 2025

      City Engineers Stress Collaboration, Adaptability at BEX Public Projects Event

      May 16, 2025

      Glendale Voters to Determine VAI Resort’s Fate

      May 16, 2025

      Legislation Would Effectively Strip NIMBYs of Referendum Tool

      February 11, 2025

      2025 Forecast Tries to Clarify an Uncertain Market

      February 7, 2025

      KOREPlex Buckeye Site Quietly Listed For Sale

      January 31, 2025

      Peoria Council Approves $1.9B 10-Year CIP

      May 27, 2025

      Scottsdale Water Needs $50M for ‘Toilet to Taps’

      May 9, 2025

      Phoenix Releases $11.5B, 5-Year CIP with Nearly 1,000 Projects

      April 1, 2025

      Buckeye Starts Planning Bond Funding Outlays

      February 26, 2025

      Commercial Real Estate 05-27-25

      May 27, 2025

      Commercial Real Estate 05-20-25

      May 21, 2025

      Commercial Real Estate 05-13-25

      May 13, 2025

      Commercial Real Estate 05-06-25

      May 6, 2025

      Industry Professionals 05-27-25

      May 27, 2025

      Industry Professionals 05-20-25

      May 21, 2025

      Industry Professionals 05-13-25

      May 13, 2025

      Industry Professionals 05-06-25

      May 6, 2025

      Arizona Projects 05-23-25

      May 23, 2025

      Arizona Projects 05-16-25

      May 16, 2025

      Arizona Projects 05-09-25

      May 9, 2025

      Arizona Projects 05-02-25

      May 2, 2025

      Phoenix Considering Data Center Development Restrictions

      May 21, 2025

      Glendale Voters to Determine VAI Resort’s Fate

      May 16, 2025

      Executive Order Will Streamline Federal Acquisition Regulations System

      April 26, 2025

      Legislation to Save Axon Plan Continues to Advance

      April 16, 2025

      Ariz. Construction Added 2,400 Jobs in April

      May 21, 2025

      Backlogs, Confidence Increase in April

      May 16, 2025

      Multifamily Developer Confidence Down in Q1

      May 13, 2025

      U.S. Construction Added 11,000 Jobs in April

      May 6, 2025

      Split Vote Complicates Plans for VAI Resort

      May 28, 2025

      Safford Approves 165-Unit Multifamily Development

      May 28, 2025

      JDM Proposal Reimagines Biltmore Infill Project

      May 27, 2025

      $500M Whiteriver Hospital Preparations Advancing

      May 27, 2025
    • AZBEX
      • Subscribe
      • Classifieds
      • Advertising
    • DATABEX
      • Webinars
      • Monthly Snapshot
    • Events
      • Housing Projects on the Horizon
    • About Us
      • Meet the Company
      • Meet the Sales Team
      • Meet the Editorial Team
      • Meet the BEXperts
    AZBEX
    Home » Economic Development » Heritage District Could Produce More Revenue for Gilbert
    Economic Development

    Heritage District Could Produce More Revenue for Gilbert

    BEX StaffBy BEX StaffSeptember 5, 2023No Comments3 Mins Read
    Credit: Gilbert Sun News
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The Town of Gilbert is not getting all the revenues it should from the Heritage District redevelopment area, according to a planning and economic development analyst.

    Joe Minicozzi of Urban3D told the Town Council in a special meeting last month that the best way to add taxable revenue dollars is to increase building heights, particularly in sought-after areas like the Heritage District.

    Downtown Gilbert has a height limit of just 55 feet, and developers have faced significant hurdles getting projects approved, Minicozzi said, even though those projects generate the most value for the Town. He used a project he had been involved with as an example. That project was a building with ground-floor retail, second-floor offices and residential units above that increased the property’s taxable value from $300K to $11M.

    He noted municipal infrastructure projects, such as roads, operate at a deficit and that single-family residential projects do not generate sales taxes. He also pointed out 59% of Gilbert’s revenue comes from sales taxes, which he called “unbelievably dumb,” and 48% of the land in the Heritage District is non-taxable due to uses like parks, churches and community centers that would probably not be redeveloped.

    He added that the Town’s slowness in building up the downtown area, compared to outlying and suburban districts, put the town “behind the eight ball a little bit to grow it up.”

    Minicozzi called the Heritage District the Town’s “golden goose” and said downtown had the strongest taxable real estate, urging the Council to make sure it was developed with appropriate height and density to maximize its value. He cited Creation RE/PE’s 40.5KSF office project The Collab, with a property value of $15.3M, as an example of development done right from a municipal revenue perspective.

    Talking about the ways in which the height limit obstructs growth, Minicozzi brought up The Brundrett Building redevelopment. The original proposal called for the redevelopment of an existing building with a 68-foot proposed height and restaurants, offices and a rooftop patio and bar. The proposal was rejected because some area business owners objected, saying it would obstruct views of the iconic Water Tower.

    The plan has since been revised downward to 55 feet and is progressing through the approval process. Minicozzi chided officials for the rejection, saying, “You have to make a critical choice: Is the Water Tower a be-all- and-end-all for your community?” and advising the Town to invest its processes and efforts toward projects that would generate the most revenue for its operations.

    After the presentation and an exercise to demonstrate what developers must go through to create projects in compliance with the current design standards in place, the Council asked Town staff to look into options for increasing height in the downtown area. (Source)

    Creation RE/PE economic development Gilbert Town Council Heritage District Joe Minicozzi The Brundrett Building The Collab Town of Gilbert Urban3D
    Share. Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email

    Related Posts

    Creation Planning 4-Bldg. Flex Industrial Project in Scottsdale

    February 21, 2025

    Phoenix, Suburbs Squabble Over Housing Efforts

    January 17, 2025

    Back to Industrial for 6-Acre Tempe Site

    January 14, 2025

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Our Picks

    Split Vote Complicates Plans for VAI Resort

    May 28, 2025

    Safford Approves 165-Unit Multifamily Development

    May 28, 2025

    JDM Proposal Reimagines Biltmore Infill Project

    May 27, 2025

    $500M Whiteriver Hospital Preparations Advancing

    May 27, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • LinkedIn
    • YouTube
    Don't Miss
    Planning & Development

    Split Vote Complicates Plans for VAI Resort

    May 28, 20250

    By BEX Staff for AZBEX Unofficial election results show Glendale voters apparently casting a split…

    Safford Approves 165-Unit Multifamily Development

    May 28, 2025

    JDM Proposal Reimagines Biltmore Infill Project

    May 27, 2025

    $500M Whiteriver Hospital Preparations Advancing

    May 27, 2025

    BEX serves architecture, engineering and construction firms as well as all the ancillary product and service categories that market to them. These include manufacturing representatives, public agencies and private real estate organizations, specialty subcontractors and services providers related to our industry.

    Our Picks

    Split Vote Complicates Plans for VAI Resort

    May 28, 2025

    Safford Approves 165-Unit Multifamily Development

    May 28, 2025

    JDM Proposal Reimagines Biltmore Infill Project

    May 27, 2025
    Contact Us

    Phone: 480-709-4190
    Address: P.O. Box 12196 Tempe, AZ 85284
    Email: sales@azbex.com

    Type above and press Enter to search. Press Esc to cancel.