About Novus Innovation Corridor

The Place

Novus Innovation Corridor is a public/private partnership between the nation’s “Most Innovative University”, Arizona State University and award-winning master developer Catellus Development Corporation. Strategically integrated with ASU’s main campus along Tempe Town Lake, Novus enables companies to achieve synergies with a major university, including access to world-class research and a highly educated and skilled workforce.

Early phases of Novus include the 2.1-million-square-foot Marina Heights and the $307 million renovations of Sun Devil Stadium. Novus will continue to introduce leading-edge technologies into an urban landscape.

355

Acres of total land under development

11m

Square footage of mixed-use space

25k

Jobs upon completion

84k

Residents within ½ mile

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ASU Innovation Zones

Novus Innovation Corridor is one of six Arizona State University Innovation Zones. As ASU’s premier real estate developments, today the Innovation Zones actively connect world-class research and best practices with commerce and practical business applications. By creating localized synergy with global businesses, these locations are home to Fortune 100 corporations, new technologies, medical research companies, start-ups, maker businesses and more. The Zones are practice applications of the University’s commitment to discovery, creativity and innovation–all focused on driving commerce and economic growth. The ASU Innovation Zones have become the place where great businesses choose to do business.

About Tempe

Tempe is a city just east of Phoenix. Its striking Tempe Center for the Arts hosts concerts, dance and comedy shows. Tempe Town Lake is dotted with kayaks, pedal boats and paddleboards. Tempe Beach Park hosts numerous outdoor festivals. A few of the major corporations located in Tempe include: Medtronic, Edward Jones, Chase Bank, State Farm Insurance, First Solar, Lifelock and Amazon.com.

Tempe is a bustling city centered around Arizona State University, #1 Rated in the Country for Innovation. With over 76,000 students, faculty and staff it is an elite area driving future leaders and economic growth.

Tempe Submarket

Tempe is a city just east of Phoenix. Its striking Tempe Center for the Arts hosts concerts, dance and comedy shows. Tempe Town Lake is dotted with kayaks, pedal boats and paddleboards. Tempe Beach Park hosts numerous outdoor festivals. A few of the major corporations located in Tempe include: Medtronic, Edward Jones, Chase Bank, State Farm Insurance, First Solar, Lifelock and Amazon.com.

  • 39.5% projected job growth in 10 years
  • 210k people who work in Tempe
  • 185k total population (2017) 
  • $55,200 median household income 
  • 29 median age 
  • 15% of Arizona high-tech companies

The Players

The development is a public/private partnership between Arizona State University (ASU) and master developer Catellus Development Corporation, and is expected to bring approximately 20,000 new jobs and 5,000 new residents to the downtown Tempe area.

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Catellus Development Corporation

Catellus is a national leader in mixed-use development, solving some of America’s most complex land challenges. With over 35 years of experience as a master developer, Catellus has transformed former airports, military bases and urban industrial sites into thriving retail, residential and commercial communities. These projects, which often include substantial public amenities, add economic, social and environmental value to the communities they serve. Catellus has both the financial strength and the development expertise to turn vision into reality at even the most demanding development sites.

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Arizona State University

Arizona State University, located in Metropolitan Phoenix, is the largest public research university in the United States under a single administration, with a total student enrollment of more than 82,000. In the midst of creating a new model for American higher education, ASU’s combination of academic excellence, entrepreneurial energy, and broad access and main goal is to positively impact the economic, social, cultural and environmental health of the communities it serves.