Arizona's $400M SkySong Looking for MF Component

The builders of SkySong, the Arizona State University/Scottsdale Innovation Center, plan on making the project a true mixed-use development by proposing a $35 million residential component (pictured) along with the office, research and retail buildings already underway in Scottsdale, Ariz. If approved by Scottsdale's development review board, the developers--The Plaza Companies and Higgins Development Partners in partnership with ASU Foundation and USAA Real Estate--plan on beginning the construction of Phase III of the $400 million project in early 2007, with the expected occupancy scheduled for the fourth quarter of 2007 or early 2008.

The construction of Phase I & II--consisting of more than 320,000 square feet of office, retail and research space--commenced in April, with anticipated completion date scheduled for summer 2007. The developers are proposing 325 high-end luxury apartments for the 37-acre site, located at McDowell and Scottsdale Roads, which will offer one-, two- and three-bedroom floor plans ranging from 551 to 1,583 square feet. Moreover, the residential component will also consist of a parking structure, which will accommodate 1,000 spaces. The housing element of the project will be located on the southeast quadrant of the site adjacent to Phase I & II commercial buildings.

Sharon Harper, president & CEO for The Plaza Cos., said that by combining residential with the office and research space, the developers are creating the mixed-use activity the city of Scottsdale desired, which will help stabilize the residential character of the area by providing market-rate housing at SkySong. "The significant development and revitalization is being energized by SkySong," she noted. Situated between Downtown Scottsdale and the main campus of Arizona State University, and ten minutes from Sky Harbor International Airport, SkySong is a research lab and business complex, which will combine technology, innovation, education and business in a collaborative campus environment that integrates state-of-the-art digital infrastructure into flexible office and research space.

Upon completion the five-phase development will consist of 1.2 million square feet of Class-A office and research space, 130,000 square feet of retail, four parking structures and up to 800 residential units proposed. "The development will also have beautifully landscaped boulevards and perimeter streetscape parks and open space," Harper noted. In addition, it will include a 125-foot iconic tensile structure creating shade.