Sun Devil Stadium’s New Neighbor to Get Sneak Preview
- Jun 22, 2015
If everything goes as planned for Arizona State University and Catellus Development Corp., a 330-acre tract east of Sun Devil Stadium in Tempe could become a thriving community.
According to the Phoenix Business Journal, ASU and Catellus are ready to unveil their preliminary master plan for the ASU Athletic Facilities District, a master-planned community that might add, over the course of 20 years, more than 7 million square feet of office space; 250,000 square feet of retail; and 2,500 to 3,000 residential units. Oakland, Calif.-based Catellus will handle development, marketing, leasing and management of the community.
The preliminary plan will be available for review during a public open house that will be held at Gallery 100 on June 23rd. ASU and Catellus representatives will be present to answer questions and review the plan.
“The district and its capacity to generate revenue for the university and Sun Devil Athletics typifies the progressive thinking for which Arizona State has become known,” said Ray Anderson, Vice President and Athletic Director at ASU. “The development of the district will create a sustainable revenue stream necessary to support and invest in championship-caliber facilities for our 23-plus athletics programs and will benefit our 550-plus student-athletes.”
As Commercial Property Executive has reported, ASU has already begun working on the renovation of its Sun Devil Stadium. Work is being carried out in phases so as not to hinder team activities and is expected to be completed in 2017.
Image Courtesy of ASU