Tempe to decide on fate for lakefront property

PHOENIX — The property on Tempe Town Lake will
continue to stay barren, according to Phoenix Business
Journal.

After lengthy negotiations between the city of Tempe
and TrendEx Holdings LLC for a $1.2 billion, 2 million-
square-foot development fell through in January, the
city has revisited the drawing board.

Although the city has yet to decide whether to issue a
new request for proposals on the 11-acre property, it
was rumored it could happen later this year.

Tempe spokeswoman Nikki Ripley said the decision will
not come anytime soon.

“A decision on whether to issue a new RFP is estimated
to be several months away,” Ripley said.

The property, located north of Rio Salado Parkway
between Rural Road and McClintock Drive, was offered to
the
Scottsdale-based developer for $17.6 million, along
with $36 million in tax breaks. Tempe pulled the deal
after TrendEx failed to make deadlines to purchase the
land.

Related

Thunderstorms with potential to produce flash flooding expected in Phoenix area this weekUniversity of Michigan runners blitz campus peony garden, preparing hundreds of plants for winter2 pilots walk away from a military helicopter crash on Arizona boat launchSupreme Court declines to hear appeal in disputed Afghan adoption caseJustice Department charges more than 2 dozen in California sweep targeting noncitizen votersTrump will sign an order aimed at boosting women’s health research, a plan backed by the first lady