By Wayne Schutsky | Scottsdale Progress
Scottsdale could bring in $3.6 million if the City Council approves a long-term lease for a final piece of land at Arizona State University’s SkySong leading to the development’s last building.
The proposal – the eighth amendment to the 2004 lease between the city and ASU – stands in stark contrast to the original agreement’s divisive beginnings.
Under the original 99-year ground lease, the city retained 1.5 acres of the 42-acre former Los Arcos Mall site, leasing the rest to the ASU Foundation, then the university’s real estate arm, for development of the technology and innovation hub.
