Beginning in March of 2011, Mesaba Capital Development (MCD) met with Arizona State University (ASU) to discuss a new ASU/City of Tempe Hotel and Conference Center located in the downtown Tempe district. A hotel and conference center facility has been reviewed by ASU and the City of Tempe for multiple years, but no one has been able to bring the project to fruition. The Team, in conjunction with ASU and the City of Tempe, have held numerous joint discussions and planning sessions over the past 20 months, leading to the decision to move forward with this long anticipated project. The benefits to both ASU and the City of Tempe from this development will be numerous.
The Team believes that developing a hotel and conference center on the identified site will address multiple needs for both ASU and the City of Tempe. The team believes this unique venue will help ASU achieve its goals of continued academic excellence, expanded educational programs, and doubling research expenditures by 2020. The City of Tempe will receive financial and development benefits that will help its future growth and expansion goals as well. The Team has been working closely to analyze the market to determine the appropriate number of rooms and sizing of the conference center space. Based on discussions, the Team engaged Marriott to conduct an in-market feasibility assessment to determine needs and viability. Marriott¹s Feasibility Team conducted interviews with ASU staff, ASU event personnel, City of Tempe staff, community organizations, and benchmarked current market conditions to gather the detailed information necessary to complete the assessment.
Feasibility Assessment Key Findings:
- Tempe represents an excellent opportunity for a full service hotel and conference center in the downtown district.
- The Airport area location and value exceptional alternative to Scottsdale.
- 300+ room hotel with adjacent 40,000 square foot conference center is very marketable in Tempe.
- ASU has a significant unmet meeting space and room requirements.
The Team's pre-development work, along with the Marriott feasibility study, led the Team to further pursue subsequent steps in making the hotel a reality. With 311 rooms and a 40,000 square foot conference center, The Team takes great pride in making the facility a true reflection of ASU and the City of Tempe. The building represents the most contemporary and innovative design, while serving as an industry leader in sustainable design for all first class, full service hotels and conference centers.
|Architectural Firm:|| ||TBD|
|Management & Operations:|| ||Marriott|
|Contractor:|| ||Hensel Phelps|
|Anticipated Completion:|| ||TBD|
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