Tempe approves tax breaks for high-rise apartments, hotel

Rendering courtesy of City of TempeBy Mike Sunnucks | Phoenix Business Journal

The Tempe City Council has approved property tax breaks for proposed high-rise condos and a hotel.

The council approved a property tax deal with Minneapolis-based Opus Development Co. for a planned 3.2 acre project near University Drive and Forest Avenue at its meeting Thursday.

The development is slated to include a 20-story apartment tower and possibly a grocery store. It is in the midst of Arizona State University’s main campus in Tempe.

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