Novus Innovation Corridor – Construction Update

Construction activity within the 355-acre Novus Innovation Corridor on the Arizona State University campus in Tempe continues. Buildings are now opening within Novus’ Phase III – a 19-acre parcel bound by University Drive, Rural Road, Veterans Way and Sixth Street. Phase III includes Class A office space, multifamily residences, hotels, street-level restaurants, shops and services, and a multi-use parking garage.

777 Tower at Novus – Now Open

Completed in late June, 777 Tower at Novus is a six-story, multi-tenant, Class A office building. The building is 84% pre-leased with major tenants Infosys and ASU. 777 Tower features 160,000-square-foot open floor plan building with penthouse office space, 8,000 square feet of ground-floor retail and a public urban plaza.

Tempe Novus Place Garage – Now Open

The 1,801-space shared-use Tempe Novus Place Garage was completed in June and provides parking for office employees and visitors, hotel patrons, retail customers and ASU eventgoers. The parking garage includes EV chargers as well as bike lockers and is seeking Parksmart certification for high-performing, sustainable garages.

Street and Infrastructure Improvements – Now Open

To serve current and future Phase III projects, the existing Packard Drive has been extended south of 6th Street and now curves through the 19-acre parcel, ultimately connecting to Rural Road. Additionally, the southernmost leg of Novus Place, a new street that will serve as the heart of the multi-block Novus Place Retail District, is completed and will be open to traffic in August. Improvements also include the installation of new underground utilities, street and pedestrian lights, and a shared storm water drainage facility to be utilized by multiple Phase III projects.

Hyatt House/Hyatt Place hotel

A mid-August opening is planned for the new 259-room dual-branded Hyatt House/Hyatt Place hotel. The eight-story hotel is immediately adjacent to Desert Financial Arena and will be suited to Tempe visitors as well as those attending Arizona State University athletics games and campus events.

Urban Residential Community by Aspen Heights

Construction is in progress on a six-story, mixed-use, urban residential community with 318 units and more than 19,000 square feet of ground-floor retail. Apartment amenities include a rooftop amenity deck, pool lounge, outdoor terrace and a pet park. The project’s first units are projected to be available for occupancy in Spring 2021.

Other Development

Remaining Phase III development is projected to include construction of two additional office buildings, two residential communities, a potential second hotel, public plazas and more than 30,000 square feet of additional ground-floor retail space on Novus Place.

Athletics Village

East of Rural Road, the existing Athletics Village is also undergoing a major expansion. Practice and competition sports fields for Sun Devil Athletics will be completed in August, while new fields for student intramural activities will be completed in October.


July 2020

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