Potential replacement for Moxy Hotel moves forward in Tempe
Jun 29, 2024, 5:00 AM
A conceptual rendering of Vale Student Housing, a 277-unit project that was recommended for approval by Tempe's Development Review Commission on June 25. (Gilbane Development Co.)
(Gilbane Development Co.)
A proposal to build student housing for Arizona State University students in place of a hotel has cleared a checkpoint.
Tempe’s Development Review Commission considered the proposal for Vale Student Housing — an eight-story, 277-unit project encompassing 578,773 square feet at its June 25 meeting. The 3.88-acre site is currently home to the Moxy Phoenix Tempe/ASU Area hotel and a CVS Pharmacy. The CVS would stay for now, but the Moxy would be replaced by the student housing project.
The commission voted to recommend approval through the consent agenda for the use permit, which did not require discussion before the vote. The case will move forward to Tempe City Council at a later date.
Project documents say CVS is operating on a ground lease that limits the redevelopment of that portion of the site “until a later date.”
The 186-key Moxy by Marriott International Inc. (Nasdaq: MAR) opened in 2016 at 1333 S. Rural Road to attract millennials and business travelers. The Tempe hotel was the first Moxy-branded hotel in the United States for Marriott. While the hotel is only eight years old, the structure was constructed in the 1970s and was previously home to Four Points by Sheraton hotel.
This story is posted in partnership with Phoenix Business Journal. Click to read the full story.
