The New Tempe – More than a College Town
April 26, 2016
City of Tempe Mayor
Tempe is the home of Arizona State University, U.S. News & World Report’s most innovative university, but it is more than just a college town. Today, the city is a destination for some of the top employers in the nation and a highly desired address for successful companies of all sizes.
Tempe now has arguably the most coveted commercial office space in Arizona with a vacancy rate in its downtown of 7 percent. The cool, multi-modal, urban feel of downtown, with glass and steel high rises adjacent to nationally-registered historic buildings, all influenced by the vibrant talent from ASU and beyond – makes the city an ideal destination.
Our Tempe Town Lake is the second most visited attraction in Arizona, with only the Grand Canyon surpassing it. Financial services and technology companies abound along the lakefront and occupy the most valuable Class A commercial office space in the state. More than 40,000 people work within a mile of Tempe Town Lake, and that number continues to grow.
Increased density and quality redevelopment are vital to Tempe’s future. We are currently working in partnership with ASU and Catellus Development, as we look to develop more than 300 acres in the Athletic Facilities District. This will define the changing character of north Tempe and ASU for decades to come. Not to mention the numerous opportunities along the Apache Corridor are also prime candidates for redevelopment the area along the light rail line becomes increasingly becoming more sought after and valuable.
As a landlocked city, new development is an integral part of our plan to thrive. And we don’t just mean that we are investing in infrastructure and buildings, we know that as a city, we must invest in the next generation of entrepreneurs and we’re doing that by supporting small businesses. Soon, Tempe will open its co-working space and a business center in the Tempe Public Library. ASU programs boost to new ideas, help companies get started and often bring new products to life.
We have some of the most successful manufacturers in the state in Tempe, companies such as Medtronic, 21st Century Healthcare and Triumph. Tech companies large and small find Tempe a comfortable fit. Amazon, Go Daddy and newcomers Revel Systems, Air Pipe and I-Factor all contribute to the creative, collaborative spirit of Tempe. These companies are not only the employers of today, but they’re the employers of tomorrow’s tech-savvy and talented employment pool.
Tempe’s workforce, especially millennials and tech workers, increasingly prefer alternative means of transportation for the convenience, the sustainability and the opportunity to be more active. Tempe’s transportation system includes over 175 miles of paths, neighborhood circulator shuttles to help our residents get that last mile home, express bus routes, light rail and soon a streetcar.
Our city is also a desired destination due to the offer of a mix of great transportation options, amazing opportunities to live and play, such as Ironman Arizona, hiking, kayaking, special events on the lake like our famous Fourth of July celebration, the Aloha Fest and not to mention, our truly amazing music scene. This, combined with a cost of living that is actually affordable, makes Tempe a great choice for anyone looking to have an incredible career and a wonderful life. We’re proud to be the recipients of growth to Arizona and to our community.
Commercial 360° Seminar
FRIDAY, MAY 27, 2016 – 9:00 AM TO 12:30 PM
This seminar is for anyone wanting to learn about growth and development in Arizona.
Learn from industry leaders regarding Arizona and Salt River Pima economic development, land availability, trust land funds, energy and water plans as well as a current market update – hear how all these factors effect the state’s growth and the real estate industry. Tempe Mayor Mark Mitchell will also provide some detail on how projects in Tempe are creating a positive influence for the state of Arizona.
Credit: 3 hrs. Legal Issues