By Patrick O’Grady for Phoenix Business Journal
SkySong will be getting a residential component as the Plaza Cos., USAA Real Estate Co. and Arizona State University embark on a $44 million project in August. The ASU Scottsdale Innovation Center, includes about 325 residential units that will be open by October 2013, officials said.
The apartments, to be built in four phases that stretch out the opening until April 2014, will be built around the facility’s main parking garage. MT Builders will handle construction and Lincoln Property Co. will be the apartment management company.
SkySong was a joint venture between ASU, Plaza Cos. and USAA, designed to be an incubator for businesses coming out of the university. It also has become home to some technology ventures by companies such as Ticketmaster as well as a home for international businesses looking for locations in the Phoenix-metro area.
SkySong currently has office space in two buildings on the 42-acre campus. Plans are under way for two more office buildings at a cost of $60 million as well as the apartments that would bring the total development size to 750,000 square feet.
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