Developer Thompson Thrift has acquired 35 acres in Gilbert with plans for luxury apartment homes and more than 200,000 square feet of restaurant and retail space.
The company expects to break ground in the first half of 2023, according to a news release.
The project, called The Gilmore, is located on the northwest corner of Val Vista Drive and Germann Road, off Loop 202 South Mountain Freeway.
The Gilmore will feature a Main Street-style entrance, covered walkways, murals from local artists and outdoor gathering spaces.
“The Gilmore will be a unique, high-density, mixed-use project in the southeast Valley,” said Zach Pace, senior vice president for Phoenix Commercial Advisors, which will lease the retail part of the project. “It will include boutique retail, full-service and fast-casual regional and national restaurants along with high-end multifamily residential.”
Thompson Thrift was founded 30 years ago and has invested more than $3.8 billion into local communities. It has more than 20 retail, multifamily and industrial projects in development throughout Arizona at an estimated value of $1.5 billion.