Mesa: Council Approves Landmark Development Agreement for Legacy Park and Gateway Crossing

~ In a unanimous decision, the Mesa City Council has approved a development agreement for Legacy Park and Gateway Crossing, paving the way for a massive private investment of approximately $3 billion in southeast Mesa. This marks a significant milestone in the ongoing efforts to revitalize the Gateway area and capitalize on its proximity to major economic and community assets such as Mesa Gateway Airport, Arizona State University's Polytechnic campus, Arizona Athletic Grounds, and State Route 24.

Mayor Mark Freeman expressed his excitement about this "generational opportunity" for Mesa, stating that it is the largest private investment in the city's history. He also assured residents that the council has worked diligently to ensure that this deal is beneficial for both Mesa and its taxpayers. The expected new tax revenue generated by this development will go towards funding essential services such as public safety, street maintenance, parks, libraries, and other city services.

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According to an independent economic analysis conducted by Applied Economics, Legacy Park and Gateway Crossing have the potential to generate approximately $58.8 billion in economic activity over 30 years. This could also result in more than 13,500 jobs being created and $1.4 billion in tax revenue for the city.

For Mesa residents, this development means more opportunities for employment, dining, shopping, and recreation within their own community. With new hotels, restaurants, retail spaces, offices, and recreational amenities planned for these developments, there will be more options for residents to spend their money locally.

City Manager Scott Butler emphasized the importance of growing the city's revenue base responsibly while providing new opportunities for residents and businesses. He stated that while Mesa works hard to manage its finances efficiently and responsibly use taxpayer dollars, long-term fiscal sustainability also requires increasing revenue sources. The Legacy Park and Gateway Crossing developments present an opportunity to do just that while also bringing new benefits to residents across the entire city.

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Legacy Park and Gateway Crossing are envisioned as connected mixed-use destinations, featuring a combination of hospitality, dining, retail, office, and residential developments. A public park will also be included in the plans. The developments will be connected by pedestrian pathways and will also see improvements in transportation and utility infrastructure to support the growing Gateway area.

The development agreement includes specific requirements and milestones that developers must meet to receive reimbursement for advancing the cost of eligible public infrastructure. These reimbursements will be funded over time from specified tax revenues generated by the development.

With the City Council's approval of the development agreement, Legacy Park and Gateway Crossing can now move forward with their next stages of development. This has the potential to attract even more investment and further strengthen the Gateway area as a regional economic and entertainment destination. Mesa residents can look forward to a brighter future with increased job opportunities, local spending options, and improved city services thanks to this major private investment in their community.

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