Tempe, Ariz. — Arizona State University (ASU) and Catellus Development Corp. will develop an urban community adjacent to ASU’s Tempe Campus.
Catellus, in collaboration with ASU, has developed a preliminary master development plan to transform the 330-acre Athletic Facilities District at the northeast end of the Tempe campus. The plan includes new and renovated NCAA athletic facilities, and more than seven million square feet of office, multifamily residential, hospitality and retail space, interconnected with sidewalks, bicycle paths and urban open spaces.
The facilities district will generate revenue to help fund the renovation and reinvention of Sun Devil Stadium and other University athletic facilities, without the use of tax dollars, through payments made by new private real estate development projects on University-owned land. ASU will oversee the development, marketing, leasing and management of the district.
The district’s preliminary land use plan reflects a phased approach to private development over the next 20 years. An initial phase that may include office, multifamily and retail development is expected to be underway as soon as 2016.
The district encompasses most university-owned property generally bounded by Sun Devil Stadium, Veterans’ Way, University Drive, McClintock Road and Tempe Town Lake. Until a permanent name is selected during the next phase of planning and development, the area will be referred to as the ASU Athletic Facilities District, or the district.