Arizona State, Capstone Development Break Ground on $118 Million Mixed-Use Development in Downtown Phoenix
PHOENIX — A public-private partnership between Arizona State University and Capstone Development Partners has broken ground on a $118 million mixed-use development located within the university’s downtown Phoenix campus.
The project — titled the Downtown Phoenix Residence Hall and Entrepreneurial Center — will feature 75,000 square feet of academic space in the form of design studios, flexible classroom space, fashion studios, fabrication labs, music practice rooms, recording studios and live event space.
The 207,000-square-foot residential component of the community will house up to 530 students in two- and four-bedroom, apartment-style units. The design-build team for the project includes architect Studio Ma and general contractor DPR Construction.
Development is scheduled for completion in fall 2021.