806 W University Dr
Tempe, AZ 85281
806 West University Drive Land · Land For Sale · 0.77 AC

806 West University Drive offers investors a rare opportunity to develop an infill site in a prime Opportunity Zone location within Tempe, Arizona. The site is currently zoned R-3 and R-4 Multifamily Residential offering frontage on 7th Street to the north and north Tempe's primary east / west arterial street, University Drive, to the south. The currently proposed project consists of sixteen three-story townhomes featuring attached two-car garages and site amenities which include a courtyard, swimming pool, and ramada. Future residents will enjoy all the education, culture, entertainment, dining, and shopping located in north Tempe within walking / biking distance or via a short ride-share. The much anticipated Whole Foods Market is only half a mile east of the property on the corner of Ash Avenue and University Drive, which is across the street from the Centerpoint on Mill where Chase Bank, Starbucks, AMC Theaters, and P.F. Chang's Restaurant are located. Tempe also has a deep employment base with a large presence of corporate campuses, hospitals, financial services, and technology firms. Some of the largest employers in the immediate area include Arizona State University, State Farm, Salt River Project, Safeway, Wells Fargo, and Express Scripts. Bank of the West has announced the expansion of its Tempe corporate campus, which will bring an estimated 1,000 new jobs to the area.