TEMPE, AZ-Business Real Estate Weekly of Arizona reports that a joint venture formed by Titan Investments LLC of Denver and Scottsdale, AZ-based IMH Financial Corp. is preparing to develop an as yet-unnamed 220-unit/600-bed student housing complex. The proposed development will be located just east of the Arizona State University Complex.
BREW notes that the venture, Oasis Indian Bend LLC, has zoning approval in Tempe to develop the $55 million, which will include a retail component along with the student housing. Documents from the city of Tempe put the project on 3.5 acres at 1010 E. Lemon. BREW says that, while Titan Investments owns assisted living facilities in Phoenix and Tucson, the Tempe development will be its first student housing project in the region.
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