Over 600K Square Feet of Office, Apartments Among Next Projects at ASU’s Novus Corridor

Article originally posted on Phoenix Business Journal on August 18, 2021

The Novus Innovation Corridor, which will eventually include 355 acres of mixed-use development on the northeast side of Arizona State University’s Tempe campus, is well into the third phase of development, and several new buildings are going to start taking shape soon in the corridor.

At a luncheon Monday hosted by AZCREW, Brian Kearney, first vice president of development for Catellus, the master developer of Novus, said some of the buildings in the third phase have been completed or are nearing completion, and several others will begin construction within the next few quarters.

Novus is university-owned land designated as ASU’s athletic facilities district. Instead of paying property taxes, developments in Novus pay fees to ASU that will fund upgraded athletics facilities. The first two phases of Novus, the Marina Heights office development and the Sun Devil Stadium renovation, are already completed.

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