Property Description

Located in the Downtown Mesa Innovation District as well as in the Opportunity Zone, 17, 31, & 37 West University is a 94 unit shovel-ready development opportunity. The approved unit mix consists of (46) one-bedroom / one-and-a-half bathroom units and (48) two-bedroom / two-bathroom units. This project is ready to go a buyer could pull permits on it immediately. Seller has also begun site planning for a surfaced parked design with 54 units that would be ideal for affordable housing, student housing, or assisted living. 17, 31, & 37 West University is located in the heart of Mesa, right in the downtown Mesa Innovation District. Innovation Districts are geographic areas where leadingedge anchor institutions and companies cluster and connect with start-ups, business incubators, and ...and accelerators. They are also physically compact, transit-accessible, and technically-wired, and offer mixed-use housing, office, and retail. Innovation districts bring together a diverse population looking for better places to live, work, and play, inducing an eclectic mix of housing, jobs, and amenities in a walkable community. In 2018, Mesa hosted two Brookings Institution officials who visited Mesa and found that Mesa was well poised to develop an innovation district. Mesa began construction on a new state of the art building which will house Arizona State University's Sidney Poiter New American Film School. This program will serve as the anchor research institution for the Downtown Innovation District. The ASU Sidney Poitier New American Film School is a three-story, approximately 117,795 square-foot academic building with 1,500 square-feet of commercial space, located at the northwest corner of Pepper Street and Centennial Way, that will house programs offered by the Herberger Institute for Design and the Arts related to digital and sensory technology, experiential design, gaming, media arts, film production and entrepreneurial development and support. These programs will utilize augmented reality, virtual reality and 3D modeling and visualization to develop technology with the potential to impact industries as diverse as health care, aerospace, manufacturing and entertainment. ASU will offer 25 annual scholarships for Mesa residents. The ground floor will contain a large exhibition gallery, screening theaters and a social café. The upper floors will include a mix of production studios, fabrication labs, flexible classrooms and innovative spaces for collaborations with community and industry. Unique to this building will be a 2,800 square foot enhanced immersion studio where users can create augmented realities and map virtual spaces onto physical environments. In addition to the primary academic programs, a number of co-curricular programs are planned to amplify the student experience and connect the facility's programs to the larger innovation district. So far, those programs include Entrepreneurship + Innovation and FilmSpark. The project budget is $73.5 million. Other projects of note in the Innovation District include: 1.) The Plaza @ Mesa City Center: a two-acre gathering place, located just south of the ASU building, with a large open community space, water feature and seasonal ice rink. 2.) Benedictine University 3.) ThinkSpot at Mesa Main Library 4.) Launchpoint Accelerator 5.) Studios @ City Center: Formerly the Mesa City Library, this three story 26,000 square foot cityowned building is receiving a multi-million dollar renovation including new mechanical systems and a new outboard core. The first 7,600 composing the 1st floor of the building will be managed in partnership with the ASU J. Orin Edson Entrepreneurship and Innovation Institute. The Studios is intended to be a shared space for ideas between students, entrepreneurs and industry leaders. 6.) HeatSync Labs is a communitydriven 501(c)3 non-profit shop and workspace where engineers, artists, students, and hobbyists come to make prototypes, art, and other creative projects. Needless to say, this opportunity sits in one of the most dynamic and up-and-coming parts of the metroplex. Located walking distance to all the Mesa Innovation District has to offer, this fully permitted projects allows a developer to hit the ground running in with a ready-to-go project in one of the hottest areas of town.