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Opportunity Zones are designated areas into which tax-advantaged money can be invested. OZs are tightly linked to Smart City technology but are also used for projects like The Grid, a Sustainable Development style mixed-use complex. The Grid is also declared as a Public-Private Partnership, a concept originally created by the United Nations, where commercial interests bond with a public entity like the city of Mesa. Investments are secured through a “Qualified Opportunity Zone Fund” which in turn solicits money from wealthy investors who seek to shelter large capital gains resulting from the sale of assets with a low cost basis.

Some designated Opportunity Zones in green, including downtown Mesa

In all, Arizona has 168 designated Opportunity Zones that are supposed to serve ‘underserved communities’, but oddly appear in key commerce areas like Phoenix Sky Harbor and Mesa Gateway airports. The downtown Mesa corridor is being developed to serve an elite clientele, with little benefit to other residents.

There is nothing illegal about Opportunity Zones in that they were created by the Tax Act of 2017. However, the entire concept is an expression of globalization and provides a way to finance these ‘sustainable’ projects with virtually tax-free money.  For additional history, see Opportunity Zones: A Technocrat Deception To Plunder America.

⁃ GOA Editor

The GRID — a $75M mixed-use project – coming to Downtown Mesa

Downtown Mesa will see major changes on Main Street throughout 2020, as Palladium GRID breaks ground on a new $75 million mixed-use development, The GRID.  A groundbreaking ceremony is slated on Monday, Feb. 24 from 8 – 10 a.m. to commemorate the development. 

The GRID creates a new neighborhood that brings together lifestyle amenities, three luxury housing options, a healthy, full-service restaurant and creative Class A office space.

The mid-rise structure will make use of an underutilized City of Mesa parking structure situated on 3.3 acres fronting on Main Street, reimagining it as an inclusive urban mixed-use community. From micro-units to luxury market-rate apartments to contemporary rowhomes, The GRID is designed to become the social ‘living room’ of Downtown Mesa. The neighborhood will also feature ground floor restaurants that will spill onto the sidewalks and create an electric vibe in the Downtown.  

“This project has been 2 1/2 years in the making and we are thrilled to see our vision come to life,” said Tony Wall, Palladium principal and founder of 3W Management. “We will bring  morning, noon and evening dining. It will be a great place for meeting and socializing and will, mesh beautifully with the existing businesses and restaurants currently operating on Main Street.”

Karrin Taylor Robson is a principal in Palladium and the founder of Arizona Strategies.  Robson grew up on Main Street and has seen the Downtown in good and bad times.  “Downtown Mesa has special meaning to me,” said Robson. “Our work on The GRID will bring new residents who can enjoy the lively Downtown lifestyle and this vibrant city that I admire.”

The GRID will include 14,000 square feet of creative Class A office space that blends into the project and overlooks the activity on Main Street. 

Developed in partnership with the City of Mesa, Benedictine University Mesa, and Palladium, The GRID is a unique public-private partnership to bring residential and specialized commercial development to Downtown Mesa.  This partnership will provide opportunities for student housing and realize the next step in Mesa’s vibrant urban vision for the Downtown.

“The GRID is exactly the type of development we want to see in downtown Mesa,” Mayor John Giles said. “Building residential, restaurant and office space on top of an underutilized parking garage will add tremendously to our growing urban neighborhood. Congratulations to The GRID and everyone involved in this one-of-a-kind project, I’m excited to see another crane in downtown Mesa’s skyline.” 

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