GILBERT, AZ (AZFamily) — The town of Gilbert is continuing its recent growth.
The Planning Commission gave the final entitlement approval for The Ranch, a $1 billion mixed-use development in the heart of Gilbert, on Wednesday.
Now, planning and construction work on The Ranch can begin. The 295-acre development will be situated along Power Road between Warner and Elliot roads. Once completed, The Ranch will be Gilbert’s largest mixed-use development.
“This entitlement approval marks a turning point not just for The Ranch, but for Gilbert as a whole,” said Todd Ostransky of development partner IndiCap. “This development is designed to meet the evolving needs of businesses and residents while driving sustainable economic growth in the region.”
Phase 1 of The Ranch is scheduled to break ground later this year. It will feature Harvest Village, the development’s neighborhood retail center that’s set to include over 50,000 square feet of retail space. Phase 1 is also planned to feature an 18-acre open space, which will include a community gathering area and a landscaped greenbelt.
Rendering of The Ranch mixed-use development in Gilbert, AZ.(Hand-out | The Ranch)
In June 2023, the Gilbert Town Council greenlighted the proposed development. The first proposal from developer The Colmena Group involved 93% of the 311-acre property being zoned for light industrial use, including warehouses and loading docks. Many people voiced concerns at earlier meetings about the original project vision interrupting day-to-day life in the nearby community.
The warehouses and loading docks were replaced in the plans with more mixed-use land. Nearly everyone in attendance at that 2023 meeting was in favor of the new version of the district.
“I think that it’s going to be a really fun destination, so I think that a lot of the folks that had to drive quite a bit away to have all those fun factors are going to be close. So I’m hoping for restaurants, I’m hoping for grocers, I’m hoping for entertainment. I think it’s going to be a really fun place,” one woman said at the 2023 meeting.
Developers did not provide a planned completion date for the project. They say it’s expected to generate over $1.5 billion annually for the town of Gilbert.
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