By Rebekah Morris for Arizona Builder’s Exchange
The ASU Facilities District was announced in June 2015 with much fanfare and excitement, but the real work of real estate planning and executing development deals quietly revved up in the background. Catellus was named master developer for the 330-acre, 20-30 year build out. In that deal structure and plan, Catellus acts as the master and horizontal developer, and aids Arizona State University in the selection of vertical developers for individual parcels and projects. Catellus may or may not act as the vertical developer for select projects within the District.
John Creer, Associate Vice President of Real Estate for ASU, has described doing business with ASU as requiring ‘extreme patience’. He says the University isn’t in any hurry to develop the prime real estate in Tempe and will make sure the district is developed how they want.
Mid-Rise Office, Multifamily Part of Phase I
Fast forward nearly 24 months and the first development is showing signs of moving forward. Last month a Ryan Companies trailer moved onto the NWC of Rural and University. According to Ashley Black with Ryan Companies, they’re starting to work on early site prep with Catellus. An official groundbreaking is still many months away.
The 19-acre parcel has always been the starting point for new development in the Facilities District; that hasn’t changed. The planned project for that corner has long been planned to be a mid-rise office project with a small amount of ground-level and up to a 500-unit multifamily project. Two development agreements are in process; different developers will handle the office and multifamily projects respectively.
According to Creer, an announcement is ‘pending’ for this first phase.
Most Athletics Facilities to be Redeveloped, Moved
Within the District are multiple athletic facilities, including Sun Devil Stadium and Wells Fargo arena. Those landmarks are the only facilities that will remain in their current location according to Creer. Every other athletic facility will be redeveloped and moved within the District.
Each facility will have a master plan created, detailing what sports are appropriate to be housed in the same facility, initial programming, and how the project might be phased. A completed athletic facilities master plan is expected in the next three months. HOK has partnered with Architekton as the consultant team tasked with the Athletics Facilities Master Plan, which is separate and within the overall Facilities District.