/

|

|

The stalled Mesa development, The GRID, will resume construction under new developer SolTrust Residential REIT after the previous developer filed for bankruptcy.
The city of Mesa approved an agreement with SolTrust to take over the project and settle existing liens.
Original developer Palladium Enterprises faced financial difficulties and cost overruns, leading to missed deadlines and eventual bankruptcy.
The city learned a "lesson" about vetting developers' financial capabilities after multiple amendments to the original agreement and project delays.