Construction Hot on Arizona State University Property

by Mike Hunter

Novus Innovation Corridor is a 350-acre, multi-phased development in Tempe that, at completion, will encompass nearly 10 million square feet of urban mixed-use opportunities, including State Farm’s 2.1-million-square-foot Marina Heights regional hub. Strategically integrated with the ASU campus and downtown Tempe on Tempe Town Lake, the Novus Innovation Corridor is a partnership with the nation’s “Most Innovative University.” ASU enables companies that locate within Novus to achieve synergies through all the resources a major research university offers, including access to world-class research and a highly educated and skilled workforce.

The project extends ASU’s commitment to the growth of smart cities, employing strategies to address adaptive design, urban heat island impacts, energy and water efficiency, smart infrastructure and transportation/mobility options.

Through a public-private partnership, ASU and master developer Catellus will oversee development of approximately 8 million square feet of additional new development, including apartments, offices, retail businesses and hotels within the Novus Innovation Corridor. At completion, Novus will integrate private, sustainable mixed-use development with new and renovated, best-in-class collegiate athletic venues.

Phase I Begins Near ASU Campus

Two for the Novus Innovation Corridor:

Award-winning, urban residential developer Aspen Heights Partners plans a six-story, 262-unit luxury apartment community that will include approximately 27,000 square feet of ground-floor restaurant and retail space as well as a shared commercial and residential parking garage.

Ryan Companies US, Inc., a premier national builder and developer with a long history of successful developments in Arizona, will develop a Class A, six-story, 162,000-square-foot multi-tenant office building that will feature an open floor plan with penthouse office space and about 8,000 square feet of retail space on the first floor. There also are plans to create a plaza area for event usage.

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