The Mesa City Council unanimously approved a development agreement for Legacy Park and Gateway Crossing, marking a major step toward a roughly $3 billion private investment in southeast Mesa.

The development builds on years of public and private investment in the Gateway area and the growth surrounding major economic and community assets including Mesa Gateway Airport, Arizona State University’s Polytechnic campus, Arizona Athletic Grounds and State Route 24.

“Legacy Park is a generational opportunity for Mesa and the largest private investment in our city’s history to date,” said Mayor Mark Freeman. “We worked hard to make sure this is a good deal for Mesa and our taxpayers. This investment is expected to generate new tax revenue that will help pay for public safety, streets, parks, libraries and services throughout our city. This is the kind of investment that can shape Mesa’s economy for decades to come.”

Independent economic analysis conducted by Applied Economics projects the development could generate approximately $58.8 billion in economic activity, more than 13,500 jobs and $1.4 billion in City tax revenue over 30 years.

For Mesa residents, the development would mean more opportunities to work, dine, shop, stay and spend locally. New hotels, restaurants, retail, office space and recreation amenities would help keep more resident and visitor spending in Mesa.

“We work hard to live within our means, find efficiencies and be responsible with taxpayer dollars, but long-term fiscal sustainability also means growing the revenue base that funds the essential services our residents rely on every day,” said City Manager Scott Butler. “Legacy Park and Gateway Crossing give us an opportunity to grow that revenue base responsibly while bringing new opportunities for residents and businesses. This investment may be in southeast Mesa, but the tax revenue it generates can help fund essential services for residents across our entire city.”

Legacy Park and Gateway Crossing are planned as connected mixed-use destinations with hospitality, dining, retail, office and residential development, along with a public park. The developments will also include pedestrian connections and transportation and utility improvements that will support the growing Gateway area.

The development agreement ties key elements of the project to specific development requirements and milestones. Developers are responsible for advancing the cost of eligible public infrastructure and must meet specified requirements before receiving reimbursement. Eligible reimbursements will be funded over time from specified tax revenues generated by the development, under the terms of the agreement.

With Council approval of the development agreement, Legacy Park and Gateway Crossing can move into the next stages of development, with the potential to attract additional investment and further strengthen the Gateway area as a regional economic and entertainment destination.