Wetta Ventures, Arizona State University Foundation and SkySong, The ASU Scottsdale Innovation Center today will be joint in a partnership to develop a $5 million, multiple-restaurant building at the thriving Scottsdale project.
This announcement comes on the heels of Wetta Venture’s successful redevelopment and opening of the Annex (615 S. College) at ASU in Tempe, which is a public-private venture with ASU. Postino Winecafe and Snooze, an AM Eatery, both opened at the Annex last fall. In November of last year, Wetta Ventures made headlines with the development and sale of its adaptive reuse project, Old School O7, for a record price-per-square-foot. The company is now working on a high-profile retail and office project on the Camelback Corridor, CB20, in Phoenix.
Prominently located at the northeast corner of Scottsdale Road and SkySong Boulevard, the new 12,000 square foot development is expected to include three to four tenants, one of which will be a 4,500 square-foot, farm-to-table restaurant. A unique feature to the development will be a 3,000 square-foot garden that will be professionally installed and curated.
Expected to break ground in January 2016, this will be the first and only restaurant project to service the 42-acre Innovation Center. Completion is slated for the second quarter of 2016. Wetta Ventures is currently seeking prospective restaurants looking to open in the fall of 2016. Brad Douglass and Ryan Leavitt of Cassidy Turley have been retained to manage the leasing.
“We are excited to partner with ASU Foundation, especially on such a high-profile project within SkySong,” said David Wetta, founder of Wetta Ventures. “We strive to deliver very special environments that create an experience for tenants and customers. SkySong is on the global stage where people and influencers will gather from all over the world. This project will reflect the vision, imagination and innovation of SkySong with subtle references to the history of this property. Our building will provide a significant experience that people will have upon arrival. There’s a lot of responsibility to make this a one-of-a-kind food and beverage destination that will reflect the uniqueness of the overall development.”
Michael Rumpeltin of Brick & West Design is leading the architectural design of the project. Modern in design, the new space will blend indoors and outdoors with expansive operable glass and will be designed to integrate the landscape and the building. The massive shaded outdoor space will be home to a combination of restaurant dining patios and public open space. Lushly landscaped, the space is protected from the sun during the warmest months of the year by a 45-foot cantilevered overhang that will be clad in translucent panel material and lit to provide the ambient lighting for the outdoor space. Brick & West is known for timeless design, immense creativity and designing some the Valley’s most-celebrated restaurants.
“We have seen first-hand at ASU the quality of work Wetta Ventures brings to the table,” said Don Couvillion, vice president of real estate for the ASU Foundation. “We are excited about the opportunity to create the same kind of quality facility at SkySong and enhance the mixed-use nature of the project.”
“We are very pleased to be able to work with Wetta Ventures and bring their expertise in creating exceptional restaurant environments to Scottsdale,” said Sharon Harper, president & CEO of Plaza Companies, the master developer of SkySong. “The innovative companies that call SkySong home and their employees deserve exceptional amenities, and these restaurants will enhance the overall spirit and energy of the project.”