5 Tempe Town Lake real estate projects to watch

Novus Innovation Corridor is named one of 5 Tempe Town Lake real estate projects to watch by the Phoenix Business Journal!

Tempe Town Lake is celebrating it’s 25th anniversary this November and the Phoenix Business Journal highlights the next wave of economic development projects that are underway. We are honored that Novus Innovation Corridor is one of them. Novus is home to trophy office assets such as Marina Heights, which lines Tempe Town Lake and boasts amazing views and exciting amenities in the surrounding area.

“One of the first major retail projects announced in Novus includes the multiple Fox Restaurant Concepts restaurants that will anchor the Novus Place development, which will have an open green space park.

Jay Donnelly, vice president of University Real Estate at Arizona State University, said the park will likely open sometime in November and have the restaurants open during the first quarter of 2025.

As those projects open, Donnelly said the Novus development team will ramp up the development of a boutique hotel, medical office and senior housing while exploring the possibility of another multifamily parcel during the first half of 2025…”

Phoenix Business Journal subscribers can read more HERE

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Continue Your Journey

Step into a world where living, working, recreation and relaxation converge. Choose your path and immerse yourself in what Novus ASU has to offer.

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Discover a vibrant, sustainable community in the heart of Tempe. Enjoy personalized luxury apartments with ground-floor retail and dining. All just steps from entertainment.

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Working at Novus Innovation Corridor

Embrace 4 million sq ft of flexible commercial space in Tempe's hub of innovation. LEED-focused buildings accommodate businesses of all sizes, near ASU and key transit routes.

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Dining, Shopping & More

Over 275,000 sq ft of retail space for dining, shopping, and entertainment. Situated on Tempe Town Lake and within walking distance to ASU's major athletic facilities.

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Hotels at Novus

Conveniently located near Phoenix Sky Harbor Airport and major freeways, Novus will offer around 1,000 hotel rooms for the growing Tempe community and its 3 million annual visitors.

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Novus is a public/private partnership between
ASU and Catellus Development Corporation.

As master developer, Catellus will work collaboratively with ASU to implement the Novus Innovation Corridor design and install required infrastructure, market development opportunities to the commercial real estate community and end users, and manage the community as it develops, on behalf of ASU.