Current print subscribers can create a free account by clicking here
Otherwise, follow the link below to join.
To Our Valued Readers –
Visitors to our website will be limited to five stories per month unless they opt to subscribe. The five stories do not include our exclusive content written by our journalists.
For $6.99, less than 20 cents a day, digital subscribers will receive unlimited access to YourValley.net, including exclusive content from our newsroom and access to our Daily Independent e-edition.
Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.
Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.
Need to set up your free e-Newspaper all-access account? click here.
Non-subscribers
Click here to see your options for becoming a subscriber.
Register to comment
Click here create a free account for posting comments.
Note that free accounts do not include access to premium content on this site.
I am anchor
Real estate
Grocer sells back lot in Gilbert for Aldi Commons apartments
Independent Newsmedia/Tom Blodgett
Aldi opened its first store in Gilbert in 2022 and has its eyes on a second one near Baseline and Country Club, one that will be next to an Aldi Commons apartment building.
German grocer Aldi has sold part of a lot it owns in Gilbert to an apartment developer, according to commercial real estate website vizzda.com.
An entity tracing to Wood Partners acquired the property near Baseline and Country Club on March 18 for $3.45 million, or $16.30 per square foot, from Aldi with an unspecified amount of new debt per affidavit.
Aldi is planning to build one of its discount supermarket chain stores on the front of the lot while the Aldi Commons is built on the back end.
The sold land is 4.8591 acres, or 211,662 square feet, of vacant land zoned multifamily/high density by the town of Gilbert.
The proposed project is for a 257-unit multifamily residential unit in one four-story building on 4.91 acres for a ratio of 52.34 dwellings per unit per acre.
The gross building area of 294,750 SFexcludes garage). Lot coverage of 49.9% (106,710 square feet) and landscape coverage of 41.8% (89,382 square feet).
Amenities will include a courtyard with pool and clubhouse.
The project will have 482 parking spaces in one wrapped garage, and seven surface spaces, for a total of 489 parking spaces (1.9 per unit).
The unit mix: 151 one bedroom (59%), 102 two bedrooms (39%), and four with three bedrooms (2%).
