Change is on the horizon for downtown Tempe, and as the city preps to dive headfirst into an extensive rebranding and revitalization effort, one local developer is leading the charge on the residential side.
Risi Development’s 38- single family homes called Newport at Tempe (1106 E Weber Drive) is set to break ground Monday, Sept. 22, directly in line with the expansion efforts taking place downtown, and only one mile from the two million square foot State Farm Insurance campus now under construction in Tempe Town Lake.
Offering two, three and four bedroom residences between 1,535- 1,683 square feet and an abundance of accoutrements such as two car garages and rooftop balconies, the new contemporary loft-style digs are within biking distance to the light rail, the downtown business corridor and Arizona State University, making, The Newport at Tempe is the ideal place to raise a family, buy a bachelor pad or purchase an investment property to rent to the nearly 82,000 students who call Tempe home.
And with more than 10,000 employees headed to town, thanks to the new State Farm Headquarters going up at Tempe Town Lake and an additional influx due to the relocation of USA Basketball to the area, the need for local, affordable housing continues to compound.
“The opportunity to purchase a new, completely customizable home while keeping on budget is a far-fetched dream to most homebuyers, but The Newport at Tempe is helping make that dream a reality,” said Joe Risi, an ASU graduate and developer on the project. “Between its schools, its climate and its burgeoning business scene, Tempe has emerged as an unbeatable locale to start a business or raise a family.”
And Risi should know – the former owner of Bandersnatch is among the many entrepreneurs with an eye on Tempe’s emerging business district, and is launching his own new concept, Revo Pizzabar, in the area next month, directly across the street from his old Bandersnatch Brewpub.
In addition to a growing business corridor, The Newport at Tempe site sits near parks, golf courses and Laird Elementary School, which will see an influx of students from the new development after several years of struggling with low enrollment. In addition to aiding the struggling school, the Risi Development pledged to practice sustainable building and business practices as well. All Newport residences must meet the standards.
Not only is The Newport at Tempe helping the community triumph, they are also doing their part to better the planet. All Newport residences will be Energy Star Efficient, meaning that every new homeowner will see considerable savings in their monthly energy bills.
“This is exhilarating time to be a part of Downtown Tempe, and we’re embracing the opportunity to keep our money right here at home,” said Risi. “Change is on the horizon, and we’re eager to get our residents situated so that they may sit back comfortably while the City of Tempe grows up around them.”