Tempe Development Thread

[muertecaza]

Originally Posted by vwwolfe

It looks like they've ditched plans for the Dam inspired water feature. It's now just a traffic circle with the canal going through it and some trees planted.

That's too bad. That was the only part I really loved about The Grand.

http://www.bizjournals.com/phoenix/news/...-going-vertical-with-first-phase-of.html

Arizona State University and its athletic facilities district developer Catellus are finalizing plans to develop the first phase of the district on the Northwest corner of University Drive and Rural Road.

The 19-acre-plus site will be a mixed-use development with 60,000 square feet of ground-floor retail, three Class A office buildings with 450,000 square feet and a 500-unit multifamily apartment complex.

As the gateway to both Tempe and ASU, the buildings will stay in modest scale as 6- to 8-story midrise buildings.

Sources say that Catellus is close to inking a 150,000-square-foot deal with a highly-compatible technical-professional business service, but they could not reveal the name of the possible tenant.

“This is going to be a walkable development, and will set the tone and scale for the remainder of the acreage,” said John Creer, ASU vice president for real estate development. “Across the street, we see development of a hockey arena, a smaller, perhaps gymnastics arena and replacement for Wells Fargo Arena. This creates a sports district entrance to the area.”

Brian Kearney, senior development manager for Catellus, said the company has hired internationally renowned architecture firm Sasaki in Boston and Arkitekton in Phoenix to finalize the master plan for the 330-acre project area.

Business Real Estate Weekly website reported that Rinsic Residential Group, Dallas, Texas, is negotiating to develop the multifamily aspect of the site. JLL is marketing the district...

“We’re working on moving plans to the next level,” said Kearney. “Sasaki is working on the circulation and open space designs, and creating the urban design standards for the area.”

...Even though the district includes the former Karsten Golf Course and Packard baseball stadium and significant Tempe Town Lake frontage, Creer said starting at University and Rural makes sense.

“There’s nothing we have to move or demolish at that location,” said Creer. “It’s a great place in the market.”

While neither Creer nor Kearney would confirm the identity of the professional services tenant, they said that the access to ASU’s engineering school and proximity to light rail were major factors in the international firm’s decision to site its regional headquarters in the district.