Details emerge on planned $1.8 billion Tempe mixed-use project, including Ferris wheel

Posted at 4:47 PM, Jan 12, 2022
and last updated 2022-01-12 18:47:26-05

TEMPE, AZ — A planned $1.8 billion, multiphased mixed-use project, which includes a Ferris wheel, will go before Tempe City Council on Thursday.

South Pier Tempe Holdings LLC, an entity of McBride-Cohen Management, was the successful respondent to a city-issued request for proposals for the site about three years ago, and the plans have been in the works since then, Maria Laughner, economic development program manager for the city of Tempe, said.

The site is located at 1190 East Vista Del Lago Drive, south of the lake and north of the former Karsten Golf Course.

“We wanted to find a developer that would create something that is more of a destination on the lake,” Laughner said.

The plans include a wide mix of uses, including class A office space, rental apartments, for-sale condo units, retail, entertainment, a hotel and central green plaza that can serve as event space. The plans also show a Ferris wheel located on the pier. The project is planned to be built in seven phases over 15 years.

Council will hear a presentation about the development agreement at its meeting Thursday, and the project is scheduled to go to Council again for approval on Feb. 10.

Read more of this subscription-only article from the Phoenix Business Journal.