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Residence Hall and Entrepreneurial Center

Arizona State University Downtown

  • Location: Phoenix, AZ
  • Deliver Year: 2021
  • Beds: 530
  • Size: 282,467 sq/ft.
  • Transaction Type: NFP / Tax-Exempt
  • Construction Duration: 20 months
  • Unit Type: Apartments
  • Amenity Spaces:
    Classrooms, Academic, Live-Learn
DESCRIPTION

Located on the ASU Downtown Phoenix campus, the new Residence Hall and Entrepreneurial Center will provide 530 beds of apartment-style undergraduate housing. The first three floors of the building will provide over 75,000 SF of academic space to include dynamic design studios, flexible classroom space, fashion studios, fabrication labs, music practice and ensemble rooms, music recording studios and spaces for live events. The 207,000 SF residential component will consist of thirteen floors and will house approximately 530 undergraduate students in a mixture of studio and two and four bedroom apartment-style unit types. This is Capstone’s third P3 with Arizona State University and its second with the Downtown campus. The Project is being financed through the purchase of tax-exempt bonds on behalf of ASU and the project will be owned by a 501c3 non-profit owner. The Project reached financial close in December 2019 and construction of the Project will begin in January 2020, with a target of completion by Fall 2021. The Project was designed by Studio Ma and is being constructed by DPR Construction.