About Novus Innovation Corridor
What is Novus?
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 Tempe campus along Tempe Town Lake, the mixed-use development 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
10m
Square footage of mixed-use space
34k
Jobs upon completion
84k
Residents within ½ mile
ASU Innovation Zones
Novus Innovation Corridor is one of seven 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.
Tempe: A Growing Tech Hub
Tempe is leading the way in growth and development in the state. With large tech companies moving here as well as increasing demands for additional housing, Tempe has quickly become the Valley’s second largest urban center. Relocation and expansion is not slowing, making Tempe a very busy and popular destination to work and live.
Novus: In the Heart of Tempe
Located on Tempe Town Lake, adjacent to Arizona State University’s Tempe Campus, Novus has a multimodal advantage, making it easily accessible for anyone coming to visit, work or live here. With a planned 4,100 residences, 700 hotel rooms and 275,000 square feet of retail and entertainment venues, Novus has created a place in the heart of Tempe where you can Live, Work, Play and Stay.
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, rated No. 1 in the Country for Innovation. With over 75,000 students, faculty and staff it is an elite area driving future leaders and economic growth.
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 nearly 34,000 new jobs and 5,000 new residents to the downtown Tempe area.
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.
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.
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