Greenstone Partners, in collaboration with ORION Investment Real Estate, is excited to announce the marketing of a newly entitled land opportunity located at 1734 E. Apache Blvd in Tempe, Arizona, with an asking price of $8.5 million. The property encompasses four combined parcels totaling 83,849 square feet, recently re-zoned to MU-4 (Mixed-Use, High Density) TOD in May 2024.
“The property’s prime location adjacent to a Valley Metro station, along with its close proximity to downtown Tempe and Arizona State University, makes it an ideal site for a new multifamily development,” stated Danny Spitz, CEO & Managing Partner of Greenstone Partners.
The City of Tempe has approved a comprehensive site plan for the property, which includes 275 dwelling units and approximately 5,000 square feet of commercial space. In addition to the zoning map amendment, Tempe’s Community Development Department has completed a Planned Area Development Overlay, establishing standards for density, building height, lot coverage, landscape coverage, and parking ratios. A thorough Development Plan Review has also been conducted, encompassing site plans, building elevations, and landscape plans.