2024 Winter Issue of Urban Land - 133

Novus is filling a need for housing with more than 4,100 urban homes. Among them is The Piedmont, a 318-unit luxury
apartment community and a second residential community that will feature approximately 200 micro-units.
the success of the community that
it serves, according to Olsen. As
he explains, the project was an
opportunity to address the needs of
the surrounding community and the
growth in Phoenix, alongside what
ASU calls its knowledge assets-that
is, its people, talent, and research.
" We are wanting to attract tens of
thousands of people and jobs to
the Novus Innovation Corridor, " he
says. " We want to weave everything
together, so it makes sense as an
integrated whole. We are creating
a place where people want to be,
both because of the experience but
also for access to the university's
knowledge. "
ASU wanted to bring a spectrum
of commercial uses to the project
and to create a space that truly
transformed the downtown area.
For Catellus, there was no better
site in the southwestern U.S. to
build such a community-centered
destination. In addition to its sheer
size, the property is located at the
intersection of Phoenix, Tempe, and
Scottsdale, along a major roadway
and near the city's international
airport. " I think it is the best piece
of property in the [Southwest] , "
says Freericks. " It is an unusually rare
opportunity to complete an urban
infill redevelopment on bare land. "
The property has been carefully
designed to align with the school's
master plan and integrate seamlessly
into the existing fabric of the
neighborhood and the campus. The
project has a 25-year timeline, with
multiple phases. Starting in 2014,
phase one delivered a 2.1 millionsquare-foot
(195,000 sq m) buildto-suit
office space for State Farm.
In phase two, the development
team completed a $300 million
redevelopment of Sun Devil Stadium.
Catellus is now undertaking phase
three, which will include hotels, office
buildings, multifamily communities,
street-level retail, and a public park.
" We are trying to be disciplined and
provide a good mix of uses. It makes
for better living for the people ...
in those phases, " says Freericks. " It
is complementary to the existing
community fabric. "
The third phase is to include
a handful of standouts, including
the Hyatt Place/Hyatt House dualbranded
hotel, which has a rooftop
pool and fitness center; Mullett
Arena, home to the National Hockey
League's Arizona Coyotes, as well
as to ASU men's and women's
hockey; and offices for several major
companies, including Infosys, a global
digital services and consulting firm,
which has a space in 777 Tower, a
mid-rise office building. The project
is expected to create 33,734 jobs and
WINTER 202 4
URBAN LAND
93
FEATURES
NOVUS INNOVATION CORRIDOR

2024 Winter Issue of Urban Land

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