LDS temples boost property values

Homeowners near the proposed site of a Church of Jesus Christ of Latter-day Saints temple in Gilbert could see their property values increase, even in this depressed real-estate market.

As the focal point of the Mormon faith, a new temple tends to raise property values because church members like to live nearby. And for those outside the faith, temples have a reputation of being good neighbors and can anchor the long-term quality of an area.

The newest LDS temple in the U.S. opened in August in Twin Falls, Idaho. As has happened elsewhere, lots around the temple are now bringing higher prices than other places in the city.

Plans for the Gilbert temple were announced in April for a site on the corner of Pecos and Greenfield roads near Loop 202. Temples are also in the works for Phoenix and the Gila Valley in eastern Arizona. The site for the Phoenix temple will be announced soon.

Construction of three new temples reflects the growth of the LDS community in Arizona.

The new Gilbert temple is 13 miles south of the 81-year-old Mesa temple and is intended to serve the growing Mormon population in the southeast Valley, where about 100,000 Mormons live. The church recently built two Gilbert meetinghouses, where members gather on Sundays, and it expects to build more as Gilbert grows.