By Mike Sunnucks | Rose Law Group Reporter
Downtown Tempe’s population is expected to double over the next 20 years and the area could also add more than 2.1 million square feet of new office space and more than 2,220 new hotel rooms.
All that expected growth has Tempe officials looking at how they want the down area to grow including the height of new buildings.
Tempe is looking at master plan and general plan changes and updates. The Tempe City Council will have a joint meeting Thursday with Arizona State University officials including President Michael Crow to discuss downtown growth, land-use and potential changes to master plans.
Tempe is looking at new development incentives for new projects with affordable and workforce housing and those that are sustainable and transit oriented. The city considering new mixed-use zoning categories for the downtown area as well as ways to encourage and allow for higher density developments.
The city is also considering new height rules for new buildings in the downtown area. The proposal would allow buildings as tall as 250 feet in near Mill Avenue and University Drive as well as long parts of Rural Road.
Downtown Tempe has seen substantial growth since the last recession attracting new jobs and real estate developments.
Tempe’s downtown currently has a population of more than 43,000 people. That is projected to grow by 45,978 new residents to more than 89,000 residents by 2040, according to the city.
There are now 35,130 jobs in the area. The employment base is expected to add 24,000 jobs over the next two decades.
The city of Tempe is also expected continued real estate development growth. There is now close to 5.4 million square feet of office space in the area including on Tempe Town Lake. Another 2.1 million square feet of office space is expected be added by 2040 along with more than 2,200 new hotel rooms and 1.37 million square feet of retail space.