New Executive Hangars Approved for Chandler Municipal Airport
The Chandler City Council has approved a ground lease for 29 new executive hangars at Chandler Municipal Airport in Arizona, to be developed by Vesper Aviation subsidiary CHD Curtis East LLC.
Hangars Coming in 2028 The Chandler City
Council has unanimously approved a ground lease for 29 new executive hangars at Chandler Municipal Airport in Arizona. The project, developed by Vesper Aviation subsidiary CHD Curtis East LLC, will occupy 4.798 acres along the airport's northern boundary under a 30-year ground lease that includes an option for a 10-year extension. According to Vesper, the full development is expected to open in 2028.
The 29 hangars will total 113,124 square feet across four buildings. Plans range from 2,750-square-foot standard hangars intended for piston aircraft and very light jets to units measuring more than 7,600 square feet. Larger hangars are intended for turboprops and business jets.
The city will receive 1% of the sale price when a hangar changes ownership or when a long-term prepaid rental agreement is completed.
Long Hangar Wait List
Chandler's city-owned hangars and covered tiedowns are currently at 100% occupancy, according to the airport's aircraft-storage page. The city's published hangar waiting list includes applicants who first joined as far back as 2013. More than 125 privately owned hangars are also located at the airport and periodically become available.
Chandler Municipal Airport Manager Ryan Reeves stated that the demand for aircraft storage in the East Valley has outpaced supply for decades. This partnership with Vesper Aviation will give pilots and aviation businesses the world-class facilities they need, right here in Chandler. Vesper is currently accepting pre-lease and pre-purchase inquiries for the new units.
The project requires Vesper to complete at least 16 hangars within 24 months of the lease taking effect. This new development aims to address the high demand for aircraft storage in the area, providing a solution to the existing wait list.
Source: AVweb