Studio, 1-bedroom attainable units to be built near downtown Tempe
PHOENIX — A housing development with single bedroom and studio attainable units will soon be built near downtown Tempe.
Construction for the project, Dwell: A Work @ Home Community, will begin among the Farmer Studios buildings along Fifth Street and Farmer Avenue, the city of Tempe said in a press release following Dwell’s construction kickoff on Thursday.
Once completed, there’ll be 129 studio and one-bedroom units, replacing multi-family units, according to Dwell. An official start and completion date haven’t been announced.
The units will be priced for residents making 80% to 120% of the average median income in the Valley.
Among the amenities to be included at the site include a fitness center, dog-friendly features, landscaped pedestrian areas, private meeting rooms and walkable access to the light rail, streetcar and restaurants.
The city said the development of underutilized commercial properties to reduce land and parking costs, not adding in “resort-style” amenities and building smaller units helps with keeping rent prices low.
“In Tempe, we recognize that development, business, housing and community are all critically linked,” Tempe Mayor Corey Woods said.
“Dwell will greatly help our city by bringing much-needed workforce housing to downtown Tempe. These homes will allow residents to easily commute by mass transit or even walk to work and Dwell’s location will encourage shopping and dining at local businesses in the area.”
Steve Betts, managing director for Holualoa Companies, head of development for Dwell, believes the project gives much needed resource for housing to help Tempe’s growth.
“As these Dwell communities expand to have a Valley-wide presence, they will be an important step forward in creating more housing options in the region,” Steve Betts said.