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Originally Posted by ciweiss
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By Staff Report
May 15, 2018, 2:30pm
Tempe to vote on 21-story apartment development
The Tempe City Council will vote Thursday on a proposed 21-story new apartment tower near Arizona State University and Mill Avenue’s bars and restaurants.
Chicago-based Core Spaces wants to develop the project called The Collective. It will have 269 apartments, 6,000 square feet of retail space and a parking garage, said Chad Matesi, a principal with Core Spaces.
It’s the latest in a number new apartments, other towers and new developments under construction or in the works near ASU.
The proposed Collective tower is at Myrtle Avenue an Seventh Street in downtown Tempe. It is near Mill Avenue and University Drive and replaces an old shuttered property. A number of other new developments are under construction or planned in downtown Tempe.
Core Spaces also has a development in Portland and has student-focused housing in Tucson and other college towns.
Matesi said Core Spaces is also planning to develop a new market-rate apartment in Tucson. He would not disclose the location of that planned project.
Matesi said if the Tempe council approves The Collective tower, construction will start in October with completion scheduled for 2020.
Core Spaces also owns some other nearby Tempe parcels.
There is another development in Tempe called The Collective on Baseline. That is near Baseline and Rural roads and is home Arizona’s second Alamo Drafthouse Cinema. It is not part of Core Space portfolio.