Marc Bonilla received the thumbs up from Tempe City Council on Thursday for a project he's been working to develop for years.
Bonilla, who is part of the development entity Hardy Rio Development LLC, will move forward on Modera Rio Salado — a seven-story, 319-unit, mixed-use development with a planned address at 835 W. Rio Salado Pkwy. Tempe City Council approved a land-use amendment, a zoning map amendment and a development plan review Thursday on a 6-0 vote.
The project totals more than 400,000 square feet on a roughly 5-acre site. There will be 3,428 square feet of commercial space on the ground floor of the project. Bonilla said he's in conversations with restaurants and specialty grocery stores as a possible tenant for the commercial space. All first-floor units will have enclosed outdoor patios while the upper units will feature outdoor balconies.
In total, Bonilla said the investment to develop Modera Rio Salado is about $200 million.
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