Heritage Park Launches in Downtown Gilbert

A long-awaited transformation is finally underway in Gilbert. Here’s what real estate investors should know about the $500 million Heritage Park project:

🔨 Project Overview

  • Location: 10-acre site at the north entrance of Gilbert’s Heritage District
  • Developer: Creation, in partnership with Crescent Communities
  • Scope: Mixed-use development with retail, restaurants, luxury apartments, a hotel, and office space

🏗️ Key Milestones

  • Construction Start: May 2025
  • Phase One Opening: Mid-2026 – 47,000 sq. ft. of retail/restaurants + public square
  • NOVEL Heritage Park Apartments: 288-unit luxury complex, opens March 2027

🍸 Featured Restaurants

  • Ghost Donkey (craft mezcal bar)
  • Palma (lush desert bar concept)
  • Blue Sushi Sake Grill

🏘️ What This Means for Investors

  • Fills a Gap: Downtown Gilbert lacked rental housing—this brings high-end supply online
  • Tenant Magnet: Premium restaurants + luxury living = reduced vacancy risk
  • Mixed-Use Momentum: Retail, office, and hospitality create a stable, diversified tenant base

💡 Strategic Investor Insight

  • Gilbert’s tight zoning and prior focus on retail left a hole in the rental market—this project fills it
  • Heritage Park adds “live-work-play” infrastructure that will attract affluent renters