Banyan Residential, an L.A.-based private real estate investment company, has commenced construction on phase one of Banyan North Tempe, a 651-unit multifamily development in Tempe. In conjunction with Milhaus, an Indianapolis-based development company, Banyan worked tirelessly with state and local agencies to annex the 16.5-acre site in an area frequently referred to as the North Tempe county island – the first time the City expanded its boundaries in more than a decade. Construction is now underway at the highly anticipated $177 million development, with phase one expected to be complete in early 2023.
