Tempe City Council to vote on apartments near Tempe Town Lake
2 comments by Dianna M. Náñez - Aug. 1, 2012 06:41 AM
The Republic | azcentral.com
The Tempe City Council is expected to vote next week on a development proposal for a five-story apartment complex across the street from the Tempe Center for the Arts and Town Lake.
Argo at Town Lake would be built on 5.72 acres on the south side of Rio Salado Parkway just east of Hardy Drive. The complex is planned as a mixed-use development with 328 apartment units and commercial space.
Nine of the units would include lease space for a small business below the apartment.
Diana Kaminski, a Tempe senior planner, said the developer, Evergreen Development, included the live-work units because of the success of nearby condo developments that included similar units for a small business out of the home.
"It's for people who want (a) true work-live atmosphere," Kaminski said. "You'd actually have store frontage, so it would work great for somebody like a lawyer, Realtor, architect or artist."
The nine units are planned as two-story apartments with about 500 to 600 square feet of commercial space on the first floor and 800 to 1,100 square feet of residential space on the second floor.
The remainder of the complex is four stories of apartments over one story of parking. The building height is 90 feet. The total project is about 604,000 square feet with about 7,172 square feet of commercial space.
Kaminski said the developer's plan includes outdoor courtyard space facing Rio Salado Parkway that would be leased to food-truck vendors. Food trucks offering gourmet meals have become popular in downtown Phoenix.
The trucks would rotate and be open to the public on weekends or during major events at Town Lake or the arts center.
"It's the first new mixed-use building that has been designed to accommodate food trucks," she said.
Jason Ottman, a senior development manager with Evergreen, said the project is a perfect fit for Tempe, where urban-living options are popular.
"Tempe is a desirable place to live," he said. "That entire Town Lake area and neighborhood is going through gentrification."
Ottman said the job opportunities in Tempe, the quirky downtown and the lively campus atmosphere are appealing to prospective tenants.
The apartment complex would include a rooftop swimming pool, cabanas, fire pits, bocce ball, putting greens, an entertainment center and fitness facility.
To accommodate the cache of bicyclists who exercise at Town Lake, the developer plans to lease space to a bike-repair shop that would be open to the public. Plans also include commercial space for a coffee shop.
Evergreen has offered to purchase 0.13 acres of city-owned land next to the lot for building the project. The developer is asking for a General Plan Amendment to designate the 0.13 acres from open space to mixed use and a zoning amendment from the current industrial district to a mixed-use, high-density district.
Kaminski said Tempe is selling the land based on a prior development agreement for a project that was planned at the site before Evergreen purchased the land. The purchase price of $20.86 per square foot is $122,823, according to a city report.
Other than a resident who was concerned about increased traffic, Kaminski said the project has drawn little protest.
Read more:
http://www.azcentral.com/community/t...#ixzz22JriB4hD