Key dates in ASU's attempts to develop lakefront property
Key dates in ASU's attempts to develop lakefront property
August 1991:
ASU and Tempe solicit proposals from developers for future lakefront
property. The only response is from the joint venture of Benton-Robb and Bay
State Milling.
June 1992:
Tempe City Council approves Benton-Robb project for nearly 3 million square
feet of commercial space on 71 acres split between the future lakefront
owned by ASU and Tempe, and Hayden Flour Mill site owned by Bay State.
1995 - 2004:
Benton-Robb, Tempe and ASU attract a string of unsuccessful builders.
Benton-Robb sells or gives up development rights to the entire 71 acres of
ASU, city and Bay State land.
November 1998:
ASU's College of Architecture unveils its initial concept for the ASU
property, calling for about 1.3 million square feet of commercial space. ASU
hires Ernst and Young to analyze the plan.
November 1999:
Tempe Town Lake opens.
February 2000:
College of Architecture revises plan for lakefront property, nearly doubling
the amount of space called for in original 1998 plan. Against Ernst and
Young's advice, the university adds more retail space, which proves to be a
major sticking point with SunCor later.
March 2000:
ASU solicits proposals from firms interested in developing most of its
lakefront property.
March 2001:
SunCor, one of only two bidders, is chosen as the master developer for ASU's
land. The agreement sets deadlines for development that are extended six
times over the next two years.
June 2002:
Michael Crow becomes president of ASU. SunCor completes its eight-story
office tower, the only successful commercial development on the south shore
to date.
February 2003:
Crow puts the lakefront project on hold for a new master planning study
aimed at the Tempe campus.
Summer 2004:
Consultant completes initial draft of planning study. Two findings are
shaping Crow's decision regarding the project. First, the study says a major
portion of the Tempe campus must be razed and rebuilt for it to become a
top-tier research institution. The study also finds that lakefront property
is not essential to ASU's mission.
August 2004:
SunCor and ASU agree on a plan for the lakefront property calling for
hundreds of condominiums. It is the first plan they have agreed on after
more than three years of negotiations. Company and university say that ASU
must sell property for the plan to work.
December 2004:
ASU confirms that it is considering selling the land, possibly to SunCor.
January 2005:
Crow says he may sell the land for as much money as possible, but is waiting
on appraisals before deciding. Crow briefs the Board of Regents on the
lakefront project in a private executive session.
