Mixed Use Development Announced for Downtown Tempe

Tempe Mixed-Use Development To Break Ground In January

Shea Commercial has teamed with 3W Companies and Triyar to develop University Square, a 1.5 million-sq.-ft., mixed-use project in downtown Tempe to foster urban re-development in the heart of the ASU campus. The $500 million project will be located one block east of Mill Avenue on University Boulevard and will provide new commercial, residential and leisure ownership opportunities. It is estimated that the

University Square development will stimulate the local economy by increasing spending in and around Tempe by an estimated $1.16 billion during the construction of the project and is expected to create nearly 1,500 ongoing jobs by the project's completion. The University Square development is estimated to generate more than $100 million in fiscal benefits for Tempe and the Tempe Union School District.

The high-profile development will encompass a 240,000-sq.-ft. office tower with 12 floors, a 30-story hotel condo tower with 225 rooms and additional condo units, a 23-story residential tower, ground floor retail and a variety of upscale restaurants.

University Square will feature onsite above- and below-ground parking, while the site is close to the future light rail path.

Formal zoning for the project is expected to be approved in late summer. Shea Commercial and its project partners plan to break ground in January 2007, with occupancy scheduled for early 2009.

Phoenix, Ariz.-based DFD CornoyerHedrick is the project architect. Land, acquisition and financing was provided by Stearns Bank of Scottsdale. Potential contractors are being interviewed.

Linthicum Tops Out Bell Tower at Desert Palms Church

Workers for Scottsdale, Ariz.-based general contractor Linthicum topped off a 39-ft. bell tower at the south end of the auditorium at the Desert Palms Presbyterian Church under construction at 4265 S. Arizona Avenue in Chandler. There will be three bell towers at the 12,800-sq.-ft. church, which will all be adorned by an ornamental iron cross.

The first phase of the project consists of an auditorium building and a combination Sunday school/classroom facility.

Project architect is Barduson Architecture of Tempe, Ariz. Linthicum is scheduled to complete construction in October 2006.

Hunt Selected for Canyon Springs Medical Plaza

Hunt Construction Group Inc has been chosen to be construction manager of the $9.6 million Canyon Springs Medical Plaza. This project will consist of a 97,000-sq.-ft., four-story medical office building and site improvements. Construction was scheduled to begin in July with a completion date of May 2007.

Renaissance Awarded The Forum at Gilbert Ranch

The Renaissance Companies was recently awarded The Forum at Gilbert Ranch project, a retail and office development in Gilbert, Ariz.

Located at the northwest corner of Val Vista Drive and Williams Field Road, this $15.9 million project will consist of 87,800 sq. ft. of office space, as well as 29,700 sq. ft. of retail structures. The project also has an underground parking structure to accommodate both shoppers and employees.

The project is slated to start at the first of October of this year, and will be completed sometime in December of 2007. The developer is VP Commercial, and the project architect is DPA Architects.

Downtown Residential Condominium Project Tops Out

The Weitz Company topped out the first phase of the Portland Place condominium project. Located within the heart of Phoenix's Roosevelt Historic District, Portland Place features 102,000 sq. ft. of condominiums and a 40,000-sq.-ft. underground parking facility. The first phase consists of a 6-story condominium tower and a pair of two-story brownstone buildings creating a total of 54 resident units. This phase is almost sold out with building completion expected by spring 2007.

Plans are almost finished for Phase II, consisting of a 10-story condo tower. It is expected to break ground in early 2007. The current design includes 90 residential units, three stories of underground parking, a state-of-the-art fitness center and resort style pool.

The developers on the project are Portland Place LLC and Crescent Resources, LLC.

The architect is DFD CornoyerHedrick.

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