Catellus Development Corporation has been chosen to oversee Arizona State University’s master development plan for its 330-acre University Athletics District in Tempe. The entire project should be completed within the next 10 to 20 years.
University officials said the next step is to work with Catellus to develop a road map.
Plans for the University Athletics District have been in the works for about two years. It’s a privately funded effort that will redevelop the undeveloped property east of downtown Tempe.
John Creer is ASU’s vice president of real estate development. He said while specific plans are still being finalized, residents can expect to see a mixture of retail, residential and commercial communities.
"For the university, it’s a generator of revenue, potentially, so that we can then reinvest in our facilities and grow our facilities," Creer said. "For the community, we’re essentially building the 75-year neighborhood for what Tempe is going to look like."
According to Creer, the revenue stream from the project will help to fund the University’s athletic facilities.