The chatter about Novus got me poking around for more information, and a recent ABOR Board agenda included an update on the status.
Mr.RE, your hope is coming true, it looks like we're going to get a lot more in the near future. Some highlights from the report:
Quote:
ASU and a creative office developer executed an option to lease on Phase IV, Parcel 4F at the end of August. The developer next will submit for entitlement approval from the Joint Review Committee for multiple creative office buildings, a prerequisite to close of escrow.
A Preliminary Takedown Notice (PTN) was approved for Phase V, Parcel 5F. Parcel 5F is comprised of approximately 5.5 acres located at the northwest corner of Rio Salado Parkway and Rural Road. The Novus master plan contemplates a mixed-use development consisting of office, multi-family residential and potential supporting retail uses. ASU has entered into a letter of intent and is negotiating an option to lease with a developer to develop Parcel 5F as a mixed-use development.
ASU also has entered into an option to lease with a developer on Parcel 3F. The developer plans to develop the property with approximately 200 micro units, an emerging segment within the multi-family residential asset class. The proposed development conforms to Novus use restrictions and provides an alternative product type and price point for future residents of Novus.
Planning for the proposed Multi-Purpose Arena (MPA) north of the Packard Drive Parking Garage amongst the 7-Series parcels created opportunities to plan distinctive pockets of retail, energize the planned open space/plaza adjacent to the arena and maximize development opportunities on the arena block. To address these opportunities, portions of the planned Novus Place and 3rd Street roadway alignments were revised as a minor adjustment to the Novus Master Plan.
ASU is finalizing construction documents [for the pedestrian bridge over University] and construction is scheduled to commence in November 2020 with substantial completion scheduled for December 2021.
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So I guess that's confirmation that the multi-purpose arena is going to go just north of the parking garage on Packard. And a bunch of new development at various stages in the pipeline. The packet contains some preliminary renderings too:
Full packet is here:
https://public.azregents.edu/Board/2020-09-30-through-10-2-Final-Board-Book.pdf
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