The Mesa City Council will consider a development agreement for a downtown mixed-use project at Main and South Pomeroy Streets.
Right now there’s a parking lot and garage on about three acres at the corner of Main Street and South Pomeroy. 3W Management, LLC wants to add apartments and office and retail space to the city-owned property.
“This will be the largest and most visible project to come to our downtown since light rail opened in August of 2015,” said Jeff McVay, Mesa Downtown Transformation manager.
McVay said the project meets the city’s goals of getting more people living downtown.
“There are a lot of developers, there are a lot of very interested investors that are watching this and if this is successful, there is going to be a lot more that will follow,” McVay said.
The city is offering to lease the property at 6 percent of its appraised value with the option to sell it outright in the future.
“There is also credits that are being applied to that lease rate based off of the developer’s design and construction of public infrastructure improvements,” McVay said.
The developer could get up to $3 million for work on public streets and parks.
The Mesa City Council meets Monday, Nov. 20.
