https://www.bizjournals.com/phoenix/...redevelop.html
The city of Tempe is looking to bring a new high-rise development to the Mill Avenue district.
Tempe in late July posted a request for qualifications, or RFQ, seeking a developer to demolish the existing building at 124 E. Sixth Street — the site of the former Tempe Performing Arts Center next to City Hall — and build a new long-term asset for the city.
“This is an opportunity for a developer to create something very special,” said Tempe Economic Development Director Mike DiDomenico in a statement. “This City of Tempe wants to partner with a developer that can show a vision for this city’s future by providing a building designed for the needs of both today and tomorrow.”
The proposed project would add another significant development to a submarket already considered one of the strongest in the metro. Significant ongoing construction projects in the near vicinity include the restoration and renovation of the historic Hayden Flour Mill, major renovations at the Hayden Ferry Lakeside office campus and the multibillion-dollar South Pier development along Tempe Town Lake, among many others.
The city owns the 0.62-acre parcel and looks to bring a mixed-use building to the site, which is located minutes from the retail, restaurants and nightlife of Mill Avenue, the Tempe Town Lake waterfront and Arizona State University. It's also within blocks of streetcar and light rail lines.
The city "would likely support heights greater than two hundred fifty feet" for the high-rise, according to language in the RFQ.
Tempe is looking to partner with a developer with expertise, experience and the financial capacity to deliver a project with residential units for multiple income levels. It also anticipates having as much as 50,000 square feet of office space and an unspecified amount of ground floor commercial space.
Tempe could opt to use some office space
The city of Tempe would have the first right to negotiate for the use of that office space through a development agreement. The city hopes that 20% of the housing units at the building can be affordable, which the city describes as being available to tenants with an income between 30% and 80% of the metro's area median income.
Tempe expects construction to be up to the standards of the International Green Building Code while promoting walkability and integration with the City Hall garage and Residence Inn Tempe Downtown/University.
The city has set a deadline of Sept. 16 for responses to be submitted through its procurement portal.
“Downtown Tempe consistently ranks as one of the most desired places for economic development,” said Tempe Mayor Corey Woods in a statement. “This is an exciting opportunity to significantly improve the use of this existing property to create much-needed attainable housing for our diverse workforce.”
At his State of the City address in December, Woods said the plans for more than 3,500 housing units were approved in 2023. Another 13,500 units were in various stages of the community development process as of Woods' address.