Transwestern Starts Construction on 200-unit Multifamily Development in Novus
Transwestern Development Company (TDC) announced the start of construction on a 200-unit multifamily development at 651 E. 6th St. in the Novus Innovation Corridor. The project is a venture between TDC and equity partners Globe Corporation and University Realty. Construction began this month and is expected to deliver fourth quarter 2023. MT Builders will serve as the general contractor.
“Tempe is experiencing unprecedented demand for quality, reasonably priced multifamily product, largely due to the market’s booming economy and high levels of in-migration,” said Brendan O’Leary, Partner at TDC. “This community’s highly walkable location near Tempe Town Lake, direct access to the light rail and its proximity to Arizona State University will be an attractive option for the city’s highly educated and skilled workforce.”