Arizona 25 December 10, 2017

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December 10 2017 Vol. II • No. 25

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First Vertical Mixed-Use Project Comes to Tempe Town Lake Cushman & Wakefield photo

Watermark Phase 1 amenities include a splash pad, a sky lounge, bar, fitness center, conference center, a bicycle repair room and solar-powered phone charging stations.

By Chuck Harvey CEG CORRESPONDENT

Cushman & Wakefield photo

The project is on the lake’s north side at Scottsdale Road and Loop 2002 and will take the concept of “mixed use” to a new level in Tempe.

First phase construction valued at $126 million and covering 1.9 million sq. ft. will be rising skyward at the site of the Tempe Town Lake Watermark mixed-use development in Arizona. It is Tempe’s first vertically integrated

mix-use development. The project is on the lake’s north side at Scottsdale Road and Loop 2002. The project will take the concept of “mixed use” to a new level in Tempe. When completed, the Phase 1 development will provide 250,000 sq. ft. of office space, 44,000 sq. ft. of retail and 360 apartsee WATERMARK page 4

AC Hotel by Marriott Coming to Phoenix’s Arizona Center Arizona Center announced plans to add an AC Hotel by Marriott to the property. Las Vegas-based LaPour Partners is currently under contract for an undisclosed amount for a 49,190sq. ft. parcel on 5th Street between Fillmore Street and Van Buren Street. “Downtown Phoenix is a true destination, and soon Arizona Center will be able to host out-oftown visitors in the heart of it all,” said Matt Root, CEO and managing partner of Parallel Capital Partners, owners of Arizona Center. “We are excited to partner with LaPour on this hotel project, and bring another much-desired element to this iconic mixed-use space.” The AC Hotel Downtown

Phoenix at Arizona Center will be a 200-key upscale, urban-inspired select-service hotel, and will soar 15 stories into the Phoenix skyline. The design will be classic, yet modern and will include a fitness center, and the only rooftop bar, pool and lounge in downtown Phoenix. The hotel overlooks a 3acre urban park that will be lined with exciting new restaurants, retail, and entertainment at the heart of Arizona Center. “With so much growth and change happening in downtown Phoenix, Arizona Center is the ideal place for an AC hotel,” said Jeffrey LaPour, LaPour president. “This new AC hotel will be across the street from Phoenix BioMedical campus and walkable to ASU’s downtown campus as well

The AC Hotel Downtown Phoenix at Arizona Center will be a 200key upscale, urban-inspired select-service hotel, and will soar 15 stories into the Phoenix skyline.

as the major sporting events, concerts, and countless other downtown activities including all of the new amenities coming to Arizona Center.” The AC experience has been designed to give guests the essen-

tials of a beautiful stay and has created an experience unlike any other. Breakfast finds inspiration in European roots. Room service is replaced with the flexibility of a quick snack or evening tapas plates. Bartenders become true

urban spirits who share the unique buzz of the city and all it has to offer. AC is a member of the Marriott family of brands, and there are 110 AC Hotels throughout Europe and North and Latin America. Arizona Center has been undergoing a significant facelift since March 2017. Major renovations to the retail mall are already under way. The addition of a 31-story residential tower is slated to begin construction in 2018 and construction of the AC Hotel is scheduled to begin in April 2018. For more information, visit arizonacenter.com. (This story also can be found on Construction Equipment Guide’s website at www.constructionequipmentguide.com.)


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