The Real Estate market in Arizona has finally started to make a sustained recovery. New home builders are building at the fastest rate in half a decade and they are buying up land for the near future. The East Valley’s populace has experienced a dramatic increase of highly educated professionals and retirees. Gilbert in particular has experienced staggering growth in population as well as an impressive surge in commercial development.
Over the past 18 months, Arizona has seen the new home production builders return in full force. The construction workforce has skyrocketed in the East Valley, with multiple new communities cropping up in Gilbert, Queen Creek, and the San Tan Valley. There are many reasons for this growth. Among them are great weather, much less traffic congestion, and ample room to build safe master-planned communities. These communities range from active adult resorts, golf course developments, sprawling estates, and smaller neighborhoods for the active family with children.
Gilbert has a population of nearly 225,000, making it the largest incorporated town in the United States. Its population has doubled every five years since 1980. Build out is expected in 2030 with an estimated population to be 305,000. Gilbert is striving for excellence in education as it knows their strategic growth is dependent on the continuation of the community’s workforce development. It is important to note that Gilbert, along with Chandler, another flourishing East Valley city, has one of the highest concentrations of graduate and professional degreed (38%) residents when compared with other western U.S. cities (28%).
One of the most important attributes of any city or town is the availability and quality of medical care. Gilbert rapidly is becoming a go to source of excellence in medical care. With the MD Anderson Center affiliated with Banner Gateway Medical Center, Gilbert has access to one of the leading innovators in cancer treatment and research. Other leading hospitals in their own right are Mercy Gilbert Medical Center, and the busiest VA Medical Clinic in the United States. All are conveniently located with good freeway access, shopping, hotels and many other amenities.
Commercial real estate development is on the rise in Arizona and Gilbert appears poised to lead the way. Currently, Gilbert has nearly 3.3 million square feet of commercial property. A new master plan is under way to double that with a new development named “Rivulon”. Plans are for a 250-acre project located at the corner of Gilbert Road and the Loop 202 Freeway. Eventually this will bring another 3.1 million square feet of office space, 500,000 square feet of retail space, and at least 250 hotel rooms. This will allow Gilbert to attract the high-wage employers who are thinking of expansion or relocation.
The future is bright for Gilbert and the East Valley. It is no accident that Gilbert is rated the 5th safest city in the United States and currently the 33rd best place to live in the United States. It has the lowest poverty rate (3.8%) of any city in Arizona with a population of 100,000 or greater. With good schools, excellent medical facilities, and a relative young age of good quality housing, Gilbert will be an attractive place to live, work, and even retire well into the 21st century.