By Parker Leavitt for The Arizona Republic
Plans are now moving forward for a high-rise senior-living complex and two high-end apartment buildings on some of Tempe’s last remaining lakefront real estate.
Southbank is on the north side of Rio Salado Parkway about one-half mile east of Rural Road, flanked on two sides by Arizona State University’s Karsten Golf Course. Eventually, the complex could include offices, hotels, shops and restaurants.
J Mitchell Advisors expects to start construction on a 17-story senior-living complex by year’s end, with the first residents moving in by 2017.
The tower, which will feature a 17th-floor bistro and cocktail lounge, will bring a dramatic addition to Tempe’s rapidly growing skyline along the lake. Just to the west, the Marina Heights complex, which will house thousands of State Farm employees, is giving rise to glass-framed buildings up to 16 stories tall.
Plans for the senior-living center, called Villas at South Bank, were initially approved in 2012 and granted an extension last year, according to city records. Mitchell says his company is finalizing financing and expects to soon apply for construction permits.
Residents of the tower’s 262 dwelling units will be separated based on the level of care needed, such as independent living, assisted living and memory care.
Approved plans also include two levels of underground parking and a two-story retail building, according to city records.
Read more at The Arizona Republic