Tuesday, March 11, 2014

Proposed Residential Development at Tempe Town Lake

Tempe Town Lake may soon see further residential development on its shores, as the Development Review Board recently reviewed and approved a request for a new multi-family/mixed-use project at the southwest corner of Rural Road and the Red Mountain Freeway. Transwestern, the developer of the project, is seeking the following entitlements: Rezoning from General Industrial to Mixed-Use/High Density, Planned Area Development Overlay to allow mixed-use development with a density of 65 dwelling units per acre, Subdivision Plat to consolidate multiple parcels, and a Development Plan Review for the overall design of the site. The project, which is to be known as Tempe Lakeside Apartments, is planned for 290 multi-family units, 3 live/work spaces and 4 commercial suites within two buildings ranging from three to five stories in height. More specifically, 3.7% of the total building will be dedicated for commercial use, while the remaining 96.3% will be used for residential units. Parking for the complex will be provided within an attached parking structure with 420 spaces.

Rendering of Tempe Lakeside Apartments

The 4.49 acre project site, which has been operated as the Papago Riding and Boarding Stables since 1965, would be the first multi-family development on the north shore of the lake that is west of Rural Road. This portion of the lakeshore is largely vacant, and is quite possibly the only remaining location on the north side of the water that has enough vacant land for development of this scale. The proposed development would be similar to existing lakeside properties such as Playa del Norte and Hayden Ferry Lakeside, in that residents will reside in higher-end dwelling units and have resort-quality amenities.

Vicinity Map of Project Site

Tempe Town Lake was completed in 1999 and now hosts over 2 million visitors every year for various events and activities. Since its creation the lake has made an economic impact of about $500 million to the city. According to the Development Review Board staff report, The significant investment in public infrastructure to create the Tempe Town Lake warrants special consideration for the properties surrounding the lake and park.” If constructed, Tempe Lakeside Apartments will ultimately catalyze further waterfront development within the vicinity.


Cody Weisel
Planning & Zoning Analyst

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