Tempe will consider a proposal to provide additional student housing for Arizona State University students. If approved, the project would replace an existing hotel.
The city's Development Review Commission will meet June 25 to hear the proposal for Vale Student Housing — an eight-story, 277-unit project encompassing 578,773 square feet. The 3.88-acre site is currently home to the Moxy Phoenix Tempe/ASU Area hotel and a CVS Pharmacy.
Nick Wood, a partner at Snell & Wilmer and land-use attorney on Vale Student Housing, told the Business Journal that the student housing project would replace the Moxy. However, the 16,000-square-foot CVS will not be affected and will continue to operate. Project documents say CVS is operating on a ground lease that limits the redevelopment of that portion of the site "until a later date."
The 186-key Moxy by Marriott International Inc. opened in 2016 at 1333 S. Rural Road with an aim to attract millennials and business travelers. The Tempe hotel was the first Moxy-branded hotel in the United States for Marriott.
