The Tempe City Council last month authorized negotiations to buy a 7.2-acre property at the SEC of Scottsdale and McKellips road for future redevelopment.
Plans for the redevelopment of Food City Plaza call for a minimum of 50 affordable housing units, a modern grocery store and a police station and training facility. The center was built in 1977 and currently has approximately 80KSF of leasable space.
The site is owned by Michael A Pollack Real Estate Investments. Tempe Economic Development Director Mike DiDomenico told Council at the June meeting the deal was placed on the agenda for approval before final terms were agreed upon so that the acquisition could be worked on and, potentially, finalized while Council was on summer break until late August.
Under the authorization, the Mayor may execute a purchase and sale agreement.
Funding sources for the purchase include a 2023 grant from the Maricopa County Human Services Department using American Rescue Plan Act funds and general fund reserves set aside for the new police station.
The location is across the street from another long-anticipated north Tempe redevelopment project. ColRich plans to raze an existing multifamily complex on the NWC of the intersection and build Tempe Gateway, a 910-unit multi-phased apartment community with 24KSF of commercial space. (Source)
