By Independent Newsmedia
Transwestern Development Company will break ground on a 333-unit multifamily community at Tempe’s Novus Innovation Corridor on the Arizona State University Tempe campus this month.
TDC, along with equity partners Griffin Capital and University Realty, will begin construction this month on the seven-story building located on 2.36 acres at the southeast corner of 6th Street and Rural Road, according to a news release from the developer.
“We are excited to expand our presence in the greater Phoenix market,” said TDC Development Associate John Beckworth in a statement. “Tempe continues to experience increased demand for quality multifamily products due to the market’s high levels of in-migration. We look forward to delivering another attractive housing option in Tempe.”
“Tempe continues to be one of the fastest growing cities in the county driven by strong job growth and continued investment from Arizona State University. We are thrilled to partner with Transwestern, University Realty and Catellus in this exciting opportunity to provide additional rental housing for Tempe residents,” commented Eric Kaplan, President of Griffin Capital.
The mid-rise complex will feature a host of amenities, including a resort-style pool with a clubhouse including a gourmet kitchen, a state-of-the-art fitness center, a coworking lounge, package lockers and bike storage. Each unit will include a washer and dryer, stainless steel appliances, quartz countertops, and hardwood-style flooring.
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