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Jun. 3, 2013

Ryan Cos., Sunbelt Holdings Team for $600M Tempe Project; DMB Opens Mesa Master-Planned Community

By Amalia Otet, Associate Editor

Ryan Companies US, Inc., and Sunbelt Holdings have joined forces for what would be the biggest office development deal in Arizona history. The team is eyeing a $600 million transit-oriented project adjacent to Tempe Town Lake in Tempe.

Provided the City Council approves the plan, Ryan and Sunbelt would build 1.9 million square feet of office space on a 20-acre tract owned by Arizona State University north of Sun Devil Stadium. Designed by Tempe-based architectural firm DAVIS, the project would include a five-building campus anchored by State Farm, a 10-acre lakeside plaza, plus an additional 40,000 to 60,000 square feet of retail amenities.

In other development news, DMB marked the grand opening of its master-planned community in Mesa, approximately 30 miles southeast of Downtown Phoenix.Dubbed Eastmark, the project will feature a mix of uses including employment, tourism, residential, retail and entertainment, according to the developers.

The 3,200-acre property is located at the southeast corner of Elliot and Ellsworth Roads. The first residential phase of more than 700 single-family homes is located just north of Ray Road between the northwestern corner of Ray and Signal Butte roads.

The community will ultimately offer a variety of housing options ranging from apartments and multi-family residences to custom homes and home sites.

DMB has selected seven local and national builders for the first phase’s residential neighborhoods,
including Standard Pacific, Woodside and Meritage Homes which have models under active construction along the Cambium Court park. Home prices range between the low $200,000s to more than $400,000.

Amenities will include the 1.5-mile long, 106-acre Eastmark Great Park, modeled after some of the great urban parks of the world; richly landscaped, tree-lined streets and parkways; a riparian habitat; and the Mark, a community center that would serve as Eastmark’s social hub.

Renderings: Eastmark /Standard Pacific