About Novus Innovation Corridor
Novus: In the Heart of Tempe
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 Mountain American Stadium.
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, Arizona. 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.
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.
ASU Innovation Zones
Novus Innovation Corridor is one of eight 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 locate.
The Players
Novus Innovation Corridor is a public/private partnership between Arizona State University (ASU) and master developer Catellus Development Corporation, and is expected to bring approximately 40,000 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. Catellus also excels at executing the retail and office components of these complex projects, often serving as the vertical developer. As master developer, vertical developer or both, Catellus creates places that thrive in their urban locations and attract some of the nation’s top tenants and builders. Anchored by corporate headquarter facilities, hospitals, universities and other service organizations, Catellus mixed-use developments are highly valued in the local communities they serve.
Catellus has the financial strength to withstand market fluctuations, staying on track during the development process.
Arizona State University
Arizona State University, ranked the No. 1 “Most Innovative School” in the nation by U.S. News & World Report for nine years in succession, has forged the model for a New American University. Year after year, ASU ranks at or near the top of the list in areas that matter. ASU is a comprehensive public research institution, measured not by whom it excludes, but by whom it includes and how they succeed; advancing research and discovery of public value; and assuming fundamental responsibility for the economic, social, cultural and overall health of the communities it serves. ASU operates on the principles that learning is a personal and original journey for each student; that they thrive on experience and that the process of discovery cannot be bound by traditional academic disciplines. Through innovation and a commitment to accessibility, ASU has drawn pioneering researchers to its faculty even as it expands opportunities for qualified students, attracting some of the highest- quality students from all 50 states and more than 130 nations.
