Illinois Investors Envision 152-acre Business, Residential Park in Gilbert

Article originally posted on Phoenix Business Journal on November 14, 2018

An Illinois investment group has big plans for a vacant 152-acre parcel in Gilbert as it looks to create a mixed-use center with commercial and residential uses.

The proposed commerce center, called Gabriella Pointe, borders Loop 202 at Higley Road. Greg Davis, with iPlan Consulting, is working with the family business backing the project, registered in Illinois as Michelon Family AZ Land LLC, to get entitlements from the city of Gilbert. The project’s master plan calls for about 56 acres of employment space, 57 acres of retail and 39 acres of residential uses, according to city documents.

“Right now we are just working to get the entitlements cleaned up,” Davis said. “The next step is to design the master plan.”

Davis said he and the family are working to “set the table” at the location for developers to come in and build with the vision of the master plan. Development on the site could be joint ventures between developers and the family, who are the landowners, or the family could decide to sell pieces of the property to a developer to be built.

To set the stage, about $80 million worth of improvements will have to be made to the site, and vertical development could end up costing hundreds of millions of dollars, depending what is built, Davis said.

Town leadership had some concern the proposed development could be competition for Rivulon, a 250-acre mixed-use development under construction at Loop 202 and Gilbert Road, Davis said.

However, it will probably be the third quarter of 2020 before any businesses can open at Gabriella Pointe, Davis said, so the development could capture employers who wanted to get into Rivulon, but couldn’t get the space, and keep them in Gilbert.