ASU/SunCor timeline - East Valley Tribune: Tempe

ASU/SunCor timeline

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Posted: Sunday, February 13, 2005 6:25 am | Updated: 7:24 am, Fri Oct 7, 2011.

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.

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