By: Daniel Benson; Belfiore Real Estate Consulting
Tempe will soon welcome one of the first new construction fee-simple residential projects since the great recession. According to the Tempe development project file for Clarendon Townhomes (click here to view the submittal), SYMI Development LLC (Irene Catsibris Clary; Managing Member) is seeking approval for a 24 unit fee-simple townhome development. Clarendon Townhomes is located in Downtown Tempe at 421 West 6th Street, just east of the southeast corner of 6th Street and Wilson Street. The development will include both three and four story attached townhome units. The units will range in size from 2,103 – 2,804 square feet and each will include a two-car tandem garage. An additional 24 compact guest parking spaces will be provided which will be located in the unit driveways. The final plat for the development will go before the Tempe City Council at its June 12, 2014 meeting.
According to public record (click here to view the affidavit), Symi Development LLC closed on this raw .78 acre site on July 23, 2013 for $575,000 ($737,179 per raw acre / $23,958 per planned unit).
