Friday, December 30, 2022 / by Juan Grimaldo
Las Vegas multifamily developer proposes Tempe mixed-use project
Fore Property Co. is seeking approval to start its next multifamily project in the Valley.
Tempe City Council will kick off the new year by considering a proposal for a six-story, 343-unit called Rio & McClintock at its Jan. 5 meeting, according to city planner Obenia Kingsby. The 3.4-acre site slated for the proposed mixed-use project is located south of Loop 202 on the southeast corner of McClintock Drive and Rio Salado Parkway.
Earlier this month, Tempe Development Review Commission recommended that the city approve a zoning map amendment, a planned area development overlay and a development plan review for Rio & McClintock.
Plans call to demolish the existing 31,410-square-foot light manufacturing building and 13,720-square-foot storage warehouse to make way for the mixed-use site, according to real estate database Vizzda. The 343 units include 41 studios, 196 one-bedroom, 86 two-bedroom and 20 three-bedroom units. In addition to the multifamily units, Fore Property looks to bring 3,682 square feet of ground floor retail, which includes five live-work spaces, according to documents submitted to the city of Tempe in November.Monthly rents would range from $1,700 for a studio up to $3,500 per month for a three-bedroom unit. Fore Property would bring 522 vehicle parking spaces and another 339 spots for bicycle parking. Amenities planned for the space include a clubhouse, fitness center, amenity decks with a pool, outdoor lounge areas, a grill and game lawn, a business lounge, co-working room, exercise rooms and a rooftop terrace.
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By Ron Davis - Reporter, Phoenix Business Journal