Real estate

Gilbert sells land for Heritage District’s South Anchor development

The proposed South Anchor to the Heritage District, shown here in rendering, is considered a key component in the Heritage District's redevelopment.

Courtesy Keeley Properties

The town of Gilbert sold 2.75 acres of land Dec. 16 at the northwest corner of Gilbert and Elliot roads to KDG Heritage South Anchor LLC for the South Anchor mixed-use project in the Heritage District, according to commercial real estate website vizzda.com.

The cost was $4.6 million.

The site, zoned for Heritage Village Center, is planned for a four-story residential building with 175 units and 12,000 square feet of commercial space, along with a two-story retail building totaling 10,930 square feet. The development will include a 91,500-square-foot parking garage with 353 spaces and six surface spaces, for a total of 359 spaces.

You must be a member to read this story.

Join our family of readers starting at $5 for your first month and support local, unbiased journalism.

Already have an account? Log in to continue.

Otherwise, follow the link below to join.

I am anchor

Real estate

Gilbert sells land for Heritage District’s South Anchor development

Courtesy Keeley Properties

The proposed South Anchor to the Heritage District, shown here in rendering, is considered a key component in the Heritage District's redevelopment.

Posted Sunday, December 21, 2025 5:15 pm

South Anchor
10 N. Gilbert Road
Gilbert, AZ 85233
View larger map

Development

South Anchor development clears hurdle with Gilbert Redevelopment Commission

Development

Gilbert’s Heritage District redevelopment progressing

Development

Heritage District South Anchor sale going before Gilbert Town Council

Independent Newsmedia

The cost was $4.6 million.

The residential mix will feature studios, one-bedroom units, one-bedroom units with dens and two-bedroom units. Plans also call for a pool and ground-floor retail space. The project’s proposed building height is 47 feet, 4 inches.

Keeley Properties, based in St. Louis, is leading the development. Associated Bank is listed as the lender.