Stalled Mesa mixed-use project gets second chance with new developer

Article originally posted on Phoenix Business Journal on June 16, 2025

For more than five years, the fate of a mixed-use development in downtown Mesa hung in the balance. The project formerly known as The Grid faced headwinds from the start amid the Covid-19 pandemic before stalling out for good last year.

About 15 months later, the 3.3-acre downtown project has new life after Mesa City Council unanimously authorized a ground lease agreement on June 2 with its new developer, Soltrust Main QOZB LLC.

A U.S. bankruptcy trustee coordinated with the city and selected Soltrust, a real estate developer with office footprints in Scottsdale and Seattle, to take over after The Grid’s previous developer — The Grid at Mesa LLC — filed for Chapter 11 protection in March 2024.

Soltrust purchased the project and its assets from the trustee for $5.59 million, according to Maricopa County documents. The newly revived development, located at 233 E. Main St. along the Valley Metro Light Rail line, will be called Glo.

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