ASU, Chandler ink 50-year lease for 1,000 student campus - East Valley Tribune: East Valley Education News

ASU, Chandler ink 50-year lease for 1,000 student campus

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Posted: Friday, February 24, 2012 3:38 pm

Chandler has approved a 50-year lease with Arizona State University for a planned downtown campus that is projected to handle up to 1,000 students in three years. The university will take over the former public works yard, 249 E. Chicago St., to house teaching and research programs from the College of Technology and Innovation.

The city will spend $2.9 million to renovate the aging 33,000-square-foot building. ASU will pay a nominal $1 a year to lease the site. The downtown campus is estimated to have a $23.8 million economic impact in the next five years.

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