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Gilbert Considers $1.3M Incentive For New Agritopia Development
Builders transformed Gilbert farmland into a suburban community called Agritopia almost 20 years ago.
The developers plan to invest $70.3 million in the project’s next phase called Agritopia Epicenter.
The Gilbert Town Council will vote on a development Thursday that includes $1.3 million in reimbursements to Agritopia Epicenter for nearby infrastructure improvements and other fees.
Plans include 287 multi-family housing units and 55,300 square feet of retail space.
The Town of Gilbert hired Applied Economics to estimate the project’s economic impact. The firm found Agritopa Epicenter could create an annual economic impact of $18.5 million dollars, which includes 215 direct jobs.
“Aside from jobs, aside from the physical development, we know that this area will be a magnet for very high end culinary cuisine as well as shopping,” said Gilbert Economic Development Director Dan Henderson.
The city has budgeted $500,000 to cover the cost of improvements to nearby public rights of way. An additional $817,000 would reimburse Agritopia for permit and plan review fees. The money will come from the Economic Development Reserve, $5 million set aside each year to help grow business in Gilbert.
Agritopia business manager William Johnston said he is pleased with the town’s offer of support.
“A lot things that we are going to be doing are going to impact the roads, streets and businesses around us so it’s really just helping us help the town,” Johnston said.
If approved, the project is scheduled to break ground by the end of this year and open in early 2019.