Tag Archives: John Creer

ASU Athletics Facilities District redering

Reign of the Sun Devil

Arizona State University is looking to give its aging sports arenas a face lift, and the school is taking a unique approach to come up with the necessary funds for the expansion and renovations. The university plans to convert an area of its Tempe campus into a fee-generating commercial and residential development.

ASU and master developer Catellus Development Corporation have come up with a preliminary development plan for 330 acres, area bound by “A” Mountain, McClintock and University drives, and Tempe Town Lake.

The plan includes upgraded ASU athletic facilities and 150 net acres for new private development, which will bea mix of commercial office space, retail stores, restaurants, hotels and urban housing. At full build-out the district’s new private development is projected to encompass more than seven million square feet.

“The overarching intent to create a revenue stream to fund the renovation of Sun Devil Stadium and in the future other athletic venues at ASU,” said Brian Kearny, senior development manager at Catellus.

Originating from legislation passed by the state legislature in 2010 to create special revenue districts on land owned by state-supported universities, the district will provide financial returns to the university. The 2010 legislation cleared the pathway for an athletic district impose an fee in lieu of property taxes, said John Creer assistant vice president for real estate development at ASU. This revenue stream will help fund the renovation of athletic facilities without the use of tax dollars. ASU is the first state university to act on this opportunity.

The athletic district will grow in several phases and phase one has already begun with renovations of Sun Devil Stadium. The upgrades of the other ASU athletic facilities will happen over time as funding from the district’s private development program and other sources permit. ASU anticipates that private development in the district will break ground by late 2016.

The existing athletic facilities will be relocated and renovated as the market dictates how to develop the land underneath them, Creer said, the goal of the district is to improve and expand ASU’s athletic facilities.

The Northwest corner of Rural Road and University Drive is expected to be one of the first areas for the to break ground, involving a mid- to high-rise office tower, because there are no existing venues and a high market demand at this location, Kearney said.

A major location of this development plan is the intersection of Rio Salado Parkway and Rural Road, where ASU controls three of the four corners, and Sunbelt Holdings— a Marina Heights development partner — holds the remaining northwest corner.

The district will offer a unique combination of area amenities for its future tenants. The location is adjacent to downtown Tempe, an urban lake, a large public research institution and some of the Valley’s top destinations such as the Mill Avenue District and Tempe Marketplace. Additionally, the development offers accessible transportation with great proximity to freeways and the light rail. The district will add to vitality and economic engine that already exists in the area from these amenities.

The Grand at Papago Park Center

Why SRP and ASU continue to invest in Tempe

Valley Partnership has announced the topic for its upcoming monthly breakfast on Friday, Sept. 25. This month’s program will feature a discussion on why the Salt River Project and Arizona State University continue to invest in the city of Tempe.

The panel will feature John Creer, Assistant Vice President for Real Estate Development at ASU; Mitch Rosen, Development Manager, Papago Park Center, SRP; and Don Bessler, Director of Public Works for the city of Tempe. Moderating the panel will be Grady Gammage, founding member, Gammage & Burnham.

The ASU Athletic Facilities District is a proposed 330-acre project located adjacent to ASU and Tempe Town Lake. Over the next 20 years it will be transformed into a mixed-use urban community combined with NCAA-quality athletic fields and facilities.

The Grand is the final phase of Papago Park Center, a 350-acre mixed-use business park located between the N. Priest Drive and N. Center Parkway off-ramps. The Grand is zoned with a Planned Area Development (PAD) overlay allowing for office, retail, and hotel uses.

“Tempe is one of the most dynamic markets in the Valley, and these two projects reflect that,” said Cheryl Lombard, CEO and President of Valley Partnership. “These are long-term developments that will drive employment growth not just for Tempe, but the Valley as a whole.”

In addition to the panel, Brad Wright will be a special guest at the September breakfast. Wright is a member of the 2016 Arizona Organizing Committee for the College Football National Playoff Championship, which will be held at University of Phoenix Stadium in Glendale on Jan. 11. Wright will give an update on the community impact and opportunities that accompany being the host city.

Buesing Corp. is the September breakfast sponsor.

JohnCreer, ASU-website

John Creer Joins ASU Real Estate Development Office

John P. Creer was named Assistant Vice President for Real Estate Development at Arizona State University (ASU). Creer comes to ASU from Coldwell Banker Commercial in Salt Lake City, Utah, where he has worked as a commercial real estate broker since August 2011. Morgan R. Olsen, ASU’s Executive Vice President, Treasurer and Chief Financial Officer, announced Creer’s appointment.

“With his nearly 30 years of experience in commercial real estate development, consulting, property and asset management and venture capital, John Creer possesses the expertise to lead the university’s complex real estate activities,” Olsen said. “His skill set will be of great value to our Real Estate Development Office as ASU continues the development of the athletic facilities district and other strategic real estate initiatives.”

Creer’s most recent professional accomplishments with Coldwell Banker include brokering transactions with national and regional companies such as UPS, US Bank and Obagi Medical Products, Inc. He is a licensed real estate broker in Utah and is a licensed real estate agent in California. Creer holds a bachelor’s degree in accounting, with an emphasis in corporate and partnership taxation from the University of Utah.

“I’m excited to work with Dr. Olsen and the real estate team to develop and maximize the value of real estate assets to benefit Arizona State University,” Creer said. “President Crow and Dr. Olsen have created a refreshing atmosphere in a public institution that is on the leading edge of public-private partnerships. I believe my public and private development experience will bring an added dimension to ASU’s growth trajectory in relation to its real estate development initiatives.”

Prior to his Salt Lake City relocation, Creer worked for Grandview Advisors, LLC, Vanir Construction and the Trammell Crow Company on professional service contracts with the Los Angeles (California) Unified School District. One of his notable ventures with his partners at Grandview Advisors was the development of a master planning process and protocol to support a $7-billion, voter-approved capital investment program for 585 public school sites across the Los Angeles area.

Earlier in his Los Angeles work, Creer was responsible for the development and execution of a $2.3 billion master plan for 41 new San Fernando Valley K-12 school sites. He managed a $200-million charter school development program and started an asset management division to monetize underutilized real estate owned by the school district through public-private partnerships.

Previously in his career, Creer was chief financial officer for a Los Angeles venture-backed technology transfer company. He formerly served as managing partner of a Salt Lake City commercial development firm and was the chief financial officer of a Salt Lake City technology start-up company. Creer also performed various development, leasing and property management roles for a Salt Lake City commercial and industrial real estate development firm.

“With his wealth of knowledge and history of success in a broad range of real estate development ventures, I’m confident that John Creer can build on our achievements in the real estate arena,” Olsen said. “We are pleased to welcome him as part of the ASU Business and Finance team, and look forward to working with him in meeting the university’s complex real estate needs and developing new revenue streams to support ASU’s evolution as a New American University.”