Vesper Aviation Secures Lease for Construction of 29 New Hangars in Arizona
General aviation pilots in the Phoenix metro area are about to experience some much-needed relief. The Chandler City Council has given unanimous approval for a 30-year ground lease with Vesper Aviation’s subsidiary, CHD Curtis East LLC. This approval will facilitate the development of 29 new executive hangars at the Chandler Municipal Airport (CHD) in Arizona.
The ambitious Vesper Hangars project will cover a whopping 113,000 square feet on the airport’s northern boundary. This area, which spans 4.798 acres of currently undeveloped land, is expected to be fully developed by 2028. The development promises a variety of standard, large, and extra-large executive hangars, all of which will be available for both sale and lease. This project is a direct response to a critical shortage, as CHD currently has a 100% occupancy rate, with a hangar space waiting list that dates back to 2013.
Chandler Mayor Kevin Hartke lauded the deal, stating that it provides “real value to taxpayers, all without putting a dime of public money at risk.” Vesper Aviation, which is supported by aviation families that include professional pilots and multi-aircraft owners, already operates FBO and hangar facilities across Texas, California, Washington, and Arizona. The city stands to benefit financially as well, receiving 1% of the sale price each time a hangar unit is sold. Vesper is currently accepting pre-lease and pre-purchase inquiries for the new units.
Source: AVweb – Chandler Approves 29 New Executive Hangars