NOVUS Innovation Corridor Phase I to begin

Credit: City of Tempe / AZBEX

 

By Adrienne St. Clair for Arizona Builder’s Exchange

Arizona State University and Ryan Companies have submitted a proposal to the City of Tempe to build the 777 Tower at Novus mixed-use office/retail building and central plaza on the NWC of Rural Road and University Drive.

The new development will be in the first phase of the redevelopment of the NOVUS Innovation Corridor, a 20-year master plan with a $30B total estimated valuation. The project will be built on two parcels – 1.4 acres – of the overall corridor. The whole development is expected to include three office and retail buildings, as well as a parking garage to be built by ASU.

This first phase project includes a 105-foot high, six-story building with 170KSF to use for both office and retail space. However, all the retail space will be ground level.

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