The Opus Group (Opus) announced today the start of construction on a 407-unit residential and retail mixed-use development in Tempe. The project covers nearly an entire city block on the northwest corner of University Drive and Forest Avenue and will transform a surface parking lot into high-rise apartments and retail.
“We’re thrilled that this vibrant, edge-of-campus rental community is underway,” said Larry Pobuda, senior vice president, general manager, Opus Development Company, L.L.C. “We designed a mixed-use project unique to the area that allows for an active, centrally located community within walking distance to all that Tempe has to offer.”
The yet-to-be-named project will feature a cascading design with shorter portions of the buildings facing University Drive and 7th Street and taller elements located mid-block. The first tower will be 20 stories and the second tower will be 12 stories with primarily studio, one- and two-bedroom residential units. The second tower will front 7th Street with 22 walk-up city homes and flats wrapping the first four stories of the tower. The project will also include over 31,000 square feet of retail and restaurant space with prominent frontage along University Drive and 7th Street.
Providing top-of-the-line amenities to residents, the towers will share a fifth floor amenity deck with a resort-style swimming pool and barbeque grilling area, as well as outdoor lounges with cabanas and fire pits. Other amenities include a state-of-the-art fitness center, a dog walk and a bike workroom featuring storage for more than 450 bikes, which will support the bike-friendly Tempe community. In addition to dedicated onsite parking for residents, the development will include public parking with more than 350 stalls.
Individual units will offer high-quality finishes, including 9-foot ceilings, granite countertops, stainless steel appliances, premium cabinetry and private balconies. The project is slated for completion in summer 2018.
The project is owned by a joint venture partnership between Opus Development Company, L.L.C. and Seventh Street Tempe AZ Manager LLC. Opus Development Company, L.L.C. is the developer and Sundt Construction, Inc. is the general contractor. Opus AE Group, L.L.C. is the design architect, architect and structural engineer of record. SmithGroupJJR is a design consultant for the project. Courtney Auther of Cushman & Wakefield will be providing retail leasing services.
About The Opus Group
The Opus Group® is a family of commercial real estate development, construction and design companies headquartered in Minneapolis with offices and projects across the country. Opus operates as an integrated, multidisciplinary team with expertise in development, capital markets and finance; project management and construction; architecture, engineering and interior design. The Opus Group includes Opus Holding, L.L.C. and its operating subsidiaries: Opus Development Company, L.L.C., Opus Design Build, L.L.C. and Opus AE Group, L.L.C. Specializing in industrial, office, residential, retail, healthcare and institutional projects, The Opus Group has broad capabilities, deep experience and a proven design-build model that delivers solutions for customers on time and on budget. For more information, visit www.opus-group.com and follow @TheOpusGroup on Twitter.