By Mike Sunnucks | Phoenix Business Journal
The city of Tempe is poised to sell 11 acres of land on Tempe Town Lake to a developer who claims financial backing from Chinese and commodities-trading interests. The plan? A $1.2 billion, 2 million-square foot development on the parcels.
Tempe is preparing to sell the lakeside parcels to Scottsdale-based TrendEx Holdings LLC for $17.6 million.
The project would include offices, condominiums, retail and a hotel on what be one of the largest in developments in the state — if it ever comes to fruition.
The land sits north Rio Salado Parkway and in between Rural Road and McClintock Drive.
