Tempe announces $600M office development deal near ASU, Town Lake - Ahwatukee Foothills News: Money

default avatar
Welcome to the site! Login or Signup below.
|
||
Logout|My Dashboard

Tempe announces $600M office development deal near ASU, Town Lake

State Farm to Anchor project; billed as key to ASU stadium renovation

Print
Font Size:
Default font size
Larger font size

Posted: Tuesday, May 28, 2013 5:59 pm

Tempe has announced a $600 million office development deal to be built near Tempe Town Lake.

Officials said Friday that the deal is subject to City Council approval of development agreement details next month.

They say the State Farm insurance company will lease office space and anchor the multi-use development called the Marina Heights project.

The development will cover more than 2 million square feet to be constructed on more than 20 acres.

City officials say up to 60,000 square feet of retail amenities will complement the transit-oriented development including food service, coffee shops, restaurants, business services, and fitness facilities.

The site also will feature a nearly 10-acre lakeside plaza, which will be open to the public.

The Marina Heights project is touted as the largest office development deal in Arizona history,

The project is being developed by Ryan Companies US, Inc. and Sunbelt Holdings.

In a press release distributed Friday, the City of Tempe announced that Ryan Companies US, Inc., and Sunbelt Holdings will develop a site owned by Arizona State University, adjacent the Lake.

“This is a proud day for Tempe and everyone involved. We are tremendously excited about what the addition of State Farm will mean to our community over the decades to come,” said Tempe Mayor Mark Mitchell in the release. “These employees, buildings, and amenities will further contribute to and showcase the vibrancy of Tempe Town Lake, Mill Avenue, and Arizona State University, and serve as a catalyst for more high-quality development.”

Added Gov. Jan Brewer: “We are thrilled that State Farm will be expanding in Arizona. ... The jobs that will be created to make this project a reality will be a tremendous boon to our economy. This is a great example of how our plan to build an Arizona that is attractive to high value employers is hitting the mark.”

According to the release, the five-building site will be leased by State Farm, and will house a combination of new hires and existing employees who will services claims, customer service inquiries, and provide sales support to customers.

“State Farm selected Tempe because it has a growing population with skill sets that match our customers’ needs,” said State Farm Senior Vice President Mary Crego in the release. “The site along Tempe Town Lake gives our employees access to nearby amenities as well as easy connections to public transportation.”

ASU President Michael Crow was quoted as well, connecting the project to the long-discussed renovation project for ASU’s sports facilities, including Sun Devil Stadium.

“State Farm’s decision to lease the land owned by the university immediately adjacent to the ASU Athletic Facilities District is the first major step in the campaign to fund new and renovated sports facilities for the university,” he said. “The Athletic Facilities District will be home to an exciting mixed-use development reflecting high quality and the best practices of sustainability.

“A high stature tenant such as State Farm will add to the luster of the district and validates its attractiveness.”

• The Associated Press contributed to this report.

More about

More about

More about

  • Discuss

WNBA President Lauds Activism, Wishes It Was Kept off Court

WNBA President Lisa Borders applauds the league's players for taking a stance on social issues. She just wishes the activism was kept off the …

Published: July 24, 2016 - 2:18 pm @ http://abcnews.go.com/Sports/wireStory/wnba-presid…

Arizona Geology: Small quake felt in Arizona, New Mexico; aftershock to 2014 Duncan earthquake?

A magntiude 3.0 earthquake struck on the Arizona-New Mexico border just before 7 am this morning, and residents in both states report feeling …

Published: July 24, 2016 - 2:22 pm @ http://arizonageology.blogspot.com/2016/07/small-q…

WNBA Withdraws Fines Against Protesting Players

The WNBA is withdrawing all fines against its teams and players that showed support for the Black Lives Matter Movement. WNBA President Lisa B…

Published: July 24, 2016 - 1:48 pm @ http://www.vibe.com/2016/07/wnba-withdraws-fines/

Abbot Urges Monks Against Protest as China Razes Buddhist Academy

Print Re-election of Exiled PM Spurs Hope for Renewed Tibet Talks Tibetan Schoolboy Who Set Himself Alight Dies EXCLUSIVE: China Damming Lhasa…

Published: July 24, 2016 - 11:51 am @ http://www.voanews.com/content/abbot-urges-monks-a…

NASA’s Kepler Confirms 100+ Exoplanets During Its K2 Mission

An international team of astronomers has discovered and confirmed a treasure trove of new worlds using NASA’s Kepler spacecraft on its K2 miss…

Published: July 24, 2016 - 11:15 am @ http://www.deepstuff.org/nasas-kepler-confirms-100…

Phoenix Things To Do: 16 events to check out this week around the Valley (July 25

PHOENIX - Looking for something to do this week? We're here to help! It's another big week for concerts in the Valley. Modest Mouse, Brand New…

Published: July 24, 2016 - 11:15 am @ http://www.abc15.com/entertainment/events/phoenix-…

Celebrate National Tequila Day with these magical margaritas

Previous Next Sunday, July 24, is National Tequila Day and you can bet we'll be celebrating with a classic margarita, a sweet and tangy paloma…

Published: July 24, 2016 - 10:51 am @ http://www.foxnews.com/leisure/2016/07/22/celebrat…

WNBA withdraws fines for player protests

NEW YORK (AP) — The WNBA is withdrawing its fines for teams and players that showed support of citizens and police involved in recent shooting…

Published: July 24, 2016 - 10:45 am @ http://www.abc15.com/news/national/wnba-withdraws-…

WNBA Rescinds Fines for Players Who Wore Black Shirts to Protest

The Women's National Basketball Association said it is rescinding fines imposed on players who violated league uniform rules in expressing sup…

Published: July 24, 2016 - 10:44 am @ http://www.nbcnews.com/news/sports/wnba-rescinds-f…

'Arizona Grassroots Action' is Anything But Grassroots

The super PAC (political action committee) known as Arizona Grassroots Action has been lighting up the internet for the last few months with m…

Published: July 24, 2016 - 10:47 am @ http://politistick.com/arizona-grassroots-action-a…

Facebook

ahwatukee.com on Facebook

Twitter

ahwatukee.com on Twitter

RSS

Subscribe to ahwatukee.com via RSS

RSS Feeds

Spacer4px

Most Popular

Online poll

Loading…