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MESA, AZ — Vestar has taken one step closer to initiating its proposed $3 billion Legacy Park project, which would create the largest mixed-use hospitality project in the history of the city of Mesa — and among the largest in Arizona.
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On Sept. 10, the Phoenix-based retail real estate developer and city staff presented a development proposal for the 197-acre project at a Mesa City Council study session, in anticipation of a City Council vote on Sept. 14.
If approved, Vestar is prepared to break ground in January 2028 on public infrastructure, public amenities and traffic improvements and start vertical construction in June 2028, with a grand opening for the first phase in October 2029, Ryan Ash, senior vice president of asset management for Vestar, told City Council.
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David Larcher, president and CEO of Vestar, told City Council nothing like this proposed development exists in the Valley.
“Rarely does an opportunity present itself where you can do a generational project,” he said. “That is what we’re talking about today with Legacy Park.”
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Read more of this story from the Business Journal.