Proposed Heritage Marketplace project may be doomed

Long billed as an important catalyst for downtown Gilbert's revitalization efforts, the proposed Heritage Marketplace project sputtered during the recession and may now be on its last legs. Gilbert's agreement with the developer requires construction to begin by Dec. 31. Town officials say that won't happen, so the Town Council must decide whether to extend the deadline or cancel the agreement. Heritage Marketplace was to include five buildings for a total of 90,000 square feet of office, retail and residential space. The 2.7-acre mixed-use development was expected to bring as many as 350 jobs and $15 million in annual payroll to the Heritage District, town officials estimated. "The job creation . . . is an essential element in any successful downtown redevelopment effort since those workers will eat and shop at the local establishments," officials said in a report several years ago to the Town Council.

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