Douglas Wilson Companies has recently closed on a major urban site in Tempe, Ariz., that will be home to a $200 million cutting-edge mixed-use development.
Demonstrating its longstanding commitment to urban development projects, DWC is developing the mixed-use commercial site on 2.51 acres in the heart of Tempe, located at the corner of Mill Avenue and Rio Salado Parkway, as a major gateway to Tempe’s vibrant and growing downtown.
DWC has planned a mixed-use creative office and lifestyle hotel development to align with Tempe’s recent and ongoing urban revitalization. The development includes 280,000 square feet of Class A office space, a 220-key boutique hotel, 17,000 square feet of restaurant and retail, and is being built for LEED Silver certification. The plans call for an innovative office building, featuring high ceilings, open floor plans and creative spaces, as well as preservation of the historic Hayden House — an original Arizona homestead, built in the early 1870s that is located on site. Through its history, Hayden House served as a private home, boarding house, and continuously operating restaurant since 1924, most recently as Monti’s La Casa Vieja.
The site is ideally located near the city’s light rail system, adjacent to Tempe Beach Park and Tempe Town Lake, and within close proximity to Arizona State University and Sky Harbor Airport. Due to its location, walkability and Class A office appeal, Tempe has attracted large office tenants, including tech industry users and others. Its Class A vacancy rate is under 5 percent, and the project has already received significant tenant interest from office users.
DWC brings 25 years of expertise to the project, in working with all property types, including office, hotel and residential. The vision is for a truly integrated mixed-use project with a large variety of amenities, which can be used by both office tenants and hotel guests.
The schedule is to start construction in August 2015 with completion in May 2017. For more information, visit douglaswilson.com.