June 16, 2026 7:35 pm
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Landmark Monti’s Restaurant site in Tempe to get hotel and office towers

By: Business Real Estate Weekly

The red hot market in Tempe is getting even hotter as new hotel and office towers are planned on Mill Avenue alongside the landmark Monti’s La Casa Vieja restaurant. The $150 + million office-hotel project is targeted for a 2.5-acre site located at the southwest corner of Mill Avenue and Rio Salado Parkway. The development is planned by a venture formed by Douglas Wilson Cos. in San Diego, Calif. (Douglas Wilson, chairman) and Phelps Development LLC, a subsidiary of Hensel Phelps in Greeley, Colo. (Jeff Wenaas, pres.).

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