Developers eye multifamily use for The Ranch in Gilbert in effort to work together with neighbors

Developers eye multifamily use for The Ranch in Gilbert in effort to work together with neighbors

Article Originally Posted by PhoenixBusinessJournal on April 3, 2023

Just months after Gilbert residents repeatedly halted Town Council discussion in opposition of The Ranch, a developer in the project expects that a modified proposal for the project will be one the neighbors get behind.

Pew & Lake PLC, on behalf of IndiCap and Colmena Group, submitted a pre-application narrative and exhibits to the town of Gilbert for a minor general plan amendment and rezoning for nearly 39 acres that would make way for a multifamily development and boutique retail at The Ranch. That aspect of The Ranch will be heard at Gilbert Planning Commission's next meeting on Wednesday evening.

Mike Chernine, a founding principal of IndiCap, said that adding more mixed-use elements such as a park and multifamily is a "game-changer" for ultimate neighborhood approval for The Ranch, which is a more than 300-acre development on the southwest corner of Elliot and Power roads.

These 39 acres on site would be known as Residences at The Ranch and entail a "luxury development with residential uses and boutique shops, all infused with lifestyle amenities that will complement and enhance the area," according to documents submitted to the town of Gilbert.

Plans call for Residences at The Ranch to be located on the east end of the 300-acre site in a way resembling an upside-down L.

“I think we have a plan that both the city and neighbors can get behind," Chernine said.

Sean Lake, the land-use attorney for IndiCap and Colmena Group, said he and his team are working with neighbors to come up with a plan that works for Morrison Ranch neighbors, landowners and the developers. A conceptual exhibit submitted to Gilbert shows that more than 700 apartment units and 26,000 square feet of retail are being proposed for Residences at The Ranch, though a final number is still being worked out, Lake said. The proposal also calls for open space and trail access on-site.

Chernine said IndiCap and Salt Lake City-based Colmena Group are already receiving inquiries from restaurants to be located on-site.

Humphreys & Partners Architects and Ware Malcomb are the project's respective architect and civil engineer. Lee & Associates Arizona will handle the retail inquires and JLL will handle the brokerage services for the industrial aspect of The Ranch.
 Most of the proposed development was proposed to be industrial space with more than 3.5 million square feet across 16 buildings. Other elements of the development include a 718,000-square-foot business park and two sites that total more than 1.3 million square feet of retail, according to the site plan submitted to the Town Council late last year. That version of The Ranch received approval from the Gilbert Planning Commission in October.