Developer breaks ground on 200-unit apartment complex near ASU in Tempe

PHOENIX — A development company announced Tuesday construction has started on a 200-unit apartment complex near Arizona State University in Tempe that is expected to be ready by the fourth quarter of 2023.

Located in the Novus Innovation Corridor near the intersection of College Avenue and University Way, the apartment complex is adjacent to the campus and near Sun Devil Stadium, Desert Financial Arena and the university’s multi-purpose arena set to open late next year.

“This community’s highly walkable location near Tempe Town Lake, direct access to the light rail and its proximity to Arizona State University will be an attractive option for the city’s highly educated and skilled workforce,” Brendan O’Leary, partner at Transwestern Development Company, said in a press release.

“Tempe is experiencing unprecedented demand for quality, reasonably priced multifamily product, largely due to the market’s booming economy and high levels of in-migration.”

The apartment complex includes a resort-style pool with a lounge area, a fitness center, coworking space with breakaway rooms, a communal area with a kitchen and bike storage.

Each apartment unit will also have a washer and dryer, stainless steel appliances and hardwood-style flooring.

Select units can also be upgraded to have custom built-ins, balconies and Murphy beds.

The apartment complex is a venture between Transwestern Development Company and equity partners Globe Corporation and University Realty.

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