By Roland Murphy for Arizona Builder’s Exchange
Tempe Town Lake’s latest major project – the 15-acre Watermark mixed-use development on the lake’s north side at Scottsdale Road and the Loop 202– is about to take off after nearly six years of planning, timing calculation and community interaction.
The city’s Development Review Commission approved Fenix Development Inc.’s request for an amended Planned Area Development Overlay at its Jan. 10 meeting and recommended the project to City Council for consideration.
When fully built out, Watermark will consist of 2.2MSF of office space, 63.5KSF of commercial, 993 multifamily units and 251 hotel rooms. The multifamily component, known as Aura Watermark, is under separate development by Trinsic Residential Group.
