Office building with waterfront views planned for Tempe Town Lake area
PHOENIX – More office space is coming to the Tempe Town Lake area.
Real estate developer KDC and construction firm The Weitz Company announced a joint venture Wednesday to develop a project on Rio Salado Parkway between Rural Road and McClintock Drive on the south side of the lake.
Called Tempe Waterfront, the building will have waterfront views and up to 400,000 square feet of Class A office space.
“KDC believes now is the perfect time to bring this prime office space to the Tempe market, which is surrounded by the lively college campus at Arizona State University and the Novus Innovation Corridor,” Peter Yates, Phoenix market director for KDC, said in a news release.
According to the release, the master plan for the area of the project includes a hotel, multifamily housing and retail.
“Together, we understand how significant the development will be in bringing more business and economic growth opportunities to this thriving area of Tempe,” Kimberly Davids, general manager at The Weitz Company, said of the partnership with KDC.
SmithGroupJJR will be the project’s architect.