Downtown Gilbert just got a major preservation win, and a boost for property values.
Key Takeaways:
- Clare House Saved: The 106-year-old cottage, once home to Bergies Coffee, will be preserved instead of demolished.
- New Ownership: Nathan Ares, owner of the Prep & Pastry brunch chain, purchased the property for $2.9M.
- Future Plans: Ares plans to expand his adjacent restaurant and turn the lot into an open-air venue called Clare House Social, featuring:
- An elevated beer garden
- Ordering windows and a bar
- Private dining inside the Clare House
- Local Backlash Avoided: The project replaces the controversial Bottled Blonde proposal, which faced major public opposition and collapsed after the prior landowner’s legal troubles.
Investor Insight:
- This project enhances the walkability and desirability of Gilbert’s Heritage District.
- The preservation of historic charm, paired with adaptive reuse, can boost rental demand and home values.
- Investors should watch for surrounding property appreciation and potential STR or mixed-use redevelopment opportunities nearby.