GILBERT, ARIZ. — A partnership between two developers, Creation and Crescent Communities, has broken ground on the first phase of Heritage Park, a mixed-use development that will occupy a full city block in downtown Gilbert. The project will function as the northern gateway of Heritage District, which at full build-out will revitalize 10 acres in the East Valley of the metropolitan Phoenix area.
Phase I of Heritage Park will feature 47,000 square feet of shops and restaurants, the 288-unit NOVEL Heritage Park apartments, a public square with water features and more than 300 surface parking spaces. The Arizona Republic reported that the first phase represents a $200 million capital investment, with the entire mixed-use development carrying a price tag of $500 million.
Future phases of Heritage Park will include a 125-room hotel, offices and additional parking.
“Bringing Heritage Park from vision to reality is a collaborative effort, driven by our exceptional development and construction teams, supportive town leadership and visionary tenants,” says David Sellers, co-founder of Creation, which has offices in Phoenix and Dallas. “Together, we are committed to creating an iconic gateway into Gilbert’s Heritage District — one that enhances quality of life, celebrates local culture and offers an exceptional experience for both residents and visitors.”
Flagship Restaurant, a Nebraska-based hospitality operator, has leased 14,000 square feet at Heritage Park with plans to bring three of its concepts — Ghost Donkey, Palma and Blue Sushi Sake Grill — to the development. The retail component at Heritage Park is set to debut in 2026. The developers have tapped Phoenix Commercial Advisors to handle the project’s retail leasing assignment.
NOVEL Heritage Park is set to deliver in March 2027. Crescent Communities, a Charlotte-based multifamily and mixed-use development firm, will oversee the development and operation of the Class A community. NOVEL is one of the company’s multifamily brands.
“Heritage Park captures the vibrant character and inviting atmosphere that makes Gilbert one of the most sought-after places to live and visit,” says Sagar Rathie, managing director at Crescent Communities.
LGE Design Build is spearheading construction at Heritage Park on behalf of the developers. The Arizona Republic reported that LGE originally acquired the land from the City of Gilbert before making Creation the master developer.
Creation is led by founders David Sellers and Bob Agahi. The company’s development pipeline represents $3.5 billion in value with active projects in eight states.
Crescent Communities has offices in Charlotte, Atlanta, Orlando, Nashville, Dallas, Denver, Phoenix and Washington, D.C. Since 1963, the company’s development portfolio has included more than 86 multifamily communities and 25 million square feet of commercial space. The firm’s brands include NOVEL, RENDER and HARMON (multifamily), as well as AXIAL (industrial) and THE YIELD (life sciences).
— John Nelson