By Jeff Metcalfe and Catherine Reagor | The Arizona Republic
USA Basketball’s new home in Tempe will be built as part of a $436 million urban showpiece that is expected to transform a long-neglected corner of Mill Avenue into a major attraction and entryway to Arizona State University.
Construction on USA Place is expected to begin in December. One of two final pieces of the deal recently fell into place: The developers reached a 99-year lease agreement with ASU last week for use of 10.7 acres on the east side of Mill Avenue between University Drive and 10th Street.
Susan Eastridge, CEO of developer Concord Eastridge, said the last big hurdle, financing for the full project by a single as-yet-unidentified investor, will be completed by year end.
In addition to the sports facility, the project will include an Omni Hotel and conference center, luxury apartments, retail and office space and underground parking. Designed and developed by ASU graduates, the project is being developed as dense, walkable and sustainable, with close ties to the ASU campus next door.
