Posted Oct 5, 2022, 8:43 PM
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Registered User
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Join Date: Oct 2015
Posts: 2,460
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Originally Posted by ASU Diablo
Reviewing ASU's new "Annual Capital Plan" document (Page 239), I noticed that this new parking garage is identified as "Academic and Office Space". Not sure if a mistake or if perhaps there will be space (in addition to the parking garage?). Also, the other Eastern half of the lot will be student housing (Herberger Residence Hall) and more academic space.
https://public.azregents.edu/Board/2022-09-28-through-30-Final-Board-Book.pdf |
Nice. A couple other things pulled out on Novus:
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In Q4 2021 a national RFP was issued to solicit proposals to develop Parcels 5C, 5D, 5E, and 5F located in Phase V (Lakefront Parcels). Several qualified developers submitted proposals for mixed-use development projects on all or a portion of the Lakefront Parcels. The majority of these proposals were focused on developing Parcel 5F as a stand-alone mixed-use development. In Q3 2022, ASU selected the lead proposer, a national developer with substantial mixed-use development experience, and entered into an exclusive negotiating period to finalize the letter of intent for Parcel 5F. The proposed development is anticipated to be a high-rise project that includes multiple product types.
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The Piedmont, a 318-unit multifamily residential community on Novus Phase III, Parcel 3B was completed in April 2022. The early occupants of The Piedmont represent Novus’ first residents, a critical component of advancing Novus as a mixed-use development. The Piedmont offers first-class amenities including a rooftop pool, fitness center, and a dog run with an attached indoor pet wash station. The project has experienced strong lease-up and was approximately 80 percent leased as of July 2022. The majority of the residents are non-students employed across a variety of industries.
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Tenant merchandising and leasing within the Novus Place retail and
entertainment district have seen significant progress over Fiscal Year 2022.
Novus’ first retail tenants executed leases and anticipate opening in the second quarter of calendar year 2023. Of the approximately 27,000 square feet of retail space currently constructed in Novus Phase III, approximately 65 percent is under a lease or signed letter of intent with retail users. The emergence of the Novus retail and entertainment district will provide needed amenities for office tenants, hotel guests, residents, and visitors, representing a critical milestone toward advancing Novus as a mixed-use development
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In June 2022, a developer entered into an option to lease Parcel 3DN. Parcel 3DN is planned for a 160,000 square foot mid-rise class A office, including ground-floor retail. The project, 700 Novus Place, represents the second of three planned mid-rise Class A office buildings located in Novus Phase III. In August of 2022, 700 Novus Place obtained approval of the final construction drawings and was issued a building permit. Closing is anticipated prior to the end of the calendar year 2022 with construction commencing shortly thereafter.
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A Preliminary Takedown Notice (PTN) will be submitted for Phase IV, Parcel 4A in September of 2022. Parcel 4A is comprised of approximately 6.2 developable acres located along Rio Salado Parkway just east of Rural Road. Parcel 4A is located on the former Karsten Golf course and will not displace any current ASU use. ASU has received unsolicited interest from healthcare providers and developers interested in developing a Medical Office Building (MOB). ASU intends to issue a national RFP for a MOB development, which may be phased or include complementary development uses.
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