Mortenson will build 259-room hotel in Tempe’s Novus Innovation Corridor

Real Estate | 22 Apr |

With construction already underway on a number of new projects, master developer Catellus Development Corporation (Catellus) today announced it will bring a 259-room, dual-branded hotel to the Novus Innovation Corridor (Novus) in Tempe through a partnership with national developer and builder Mortenson. 

The eight-story hotel, located just north of the northeast corner of the intersection of E. Veterans Way and E. 6th St. in Tempe, will be constructed on a .98-acre footprint within walking distance of Sun Devil Stadium, and is immediately adjacent to Wells Fargo Arena and the planned Multi-Purpose Arena. Amenities will be suited to visitors attending Arizona State University athletics games and events.

Infrastructure activity to prepare for the first hotel, multifamily residential, multi-tenant office and parking garage within the Novus property began in late 2018.

The Mortenson hotel project will be a part of the Hyatt Hotels Corporation under the Hyatt Place and Hyatt House flags.

“This hotel will provide guests a welcoming place to stay, gather and enjoy downtown Tempe with immediate access to ASU’s largest sporting venues and the Novus Place retail and hospitality amenities,” said George Forristall, director of real estate development at Mortenson. “It’s an ideal step in the transformative development of the Novus Innovation Corridor into a world-class, mixed-use urban community.” 

The hotel is planned to be LEED certified, with rooftop amenities that include a pool, bar, outdoor gathering area and fitness center.  

Hotel amenities will include an open lobby, shaded patio spaces and banquet, meeting, and outdoor event spaces. Guests will be able to relax and socialize in outdoor environments that also will include a ground-level guest kitchen, dining and lobby bar areas.

“ASU is proud of the diverse growth of the Tempe waterfront through the ongoing development of the Novus Innovation Corridor,” said John P. Creer, Assistant Vice President for Real Estate at Arizona State University.

“As a hub for the region’s higher education and business communities, hospitality developments like this are both complementary to the lifestyle experience we are creating and essential to the establishment of Novus as an innovation zone that will advance ASU’s mission and contributions to Arizona’s economic development,” Creer said. 

Groundbreaking is scheduled for Tuesday, April 23, with completion expected in Summer 2020.

Known for its leading-edge construction technology and approach to sustainability, Mortenson is working with PK Architects, ESG Architects and Design Force Corporation to ensure that visitors experience the innovative vision of Novus firsthand.

“Each element of the project, including landscape enhancements, will be thoughtfully designed to bring about the overall vision of the Novus Innovation Corridor,” said Charley Freericks, Senior Vice President at Catellus.

“Novus Innovation Corridor is committed to attracting diverse, mixed-use development. Hospitality for university visitors and business people is a key component of the environment we’re building,” Freericks added.

The hotel will provide needed capacity for the growing number of visitors to Tempe, which reached 3.7 million in 2015, according to a report from the Tempe Tourism Office.

The Novus Innovation Corridor was enabled through legislation that was passed and signed into law in 2010. The legislation permits the Maricopa County Board of Supervisors to work with ASU to establish a district in which all land is owned by the university and assessments are imposed on developments locating within the district, the proceeds from which then are used to construct and improve ASU intercollegiate athletic facilities, rather than from state revenues and taxpayers.

Located in the geographic center of metropolitan Phoenix, Novus Innovation Corridor is immediately adjacent to Metro Light Rail and the regional freeway system and less than two miles from Sky Harbor International Airport.

Novus will be a model for sustainable planning and development, and is being planned and developed as mixed-use project that will include university athletic and recreational facilities blended with lifestyle and workplace uses, exemplifying the future of creative urban neighborhood design.  

For more information about Novus and its development opportunities, visit NovusASU.com, call (480) 566-9900 or email NovusASU@catellus.com.

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