PHOENIX—Sundance Bay, a Utah-based company specializing in the acquisition, development and stabilization of distressed multifamily assets, has commissioned an expansive mural as part of a revitalization project in downtown Tempe.

The giant mural, a 50-by-55-foot, four-story gila monster, is just one piece of the renewal project. Sundance Bay acquired the property, formerly Campus Pointe, in June of 2013 and the company is transforming the property into contemporary luxury apartments. It already completed the renovation of 56 of the 163 units in the 108,580 rentable square foot complex located on approximately three acres at the corner of Lemon Street and South Terrace Road. The project is expected to be completed this summer.

The renovation, which is being done by Scottsdale-based Edge Construction and the Phoenix office of Gould Evans Architecture, features an extensive remodel of the units including contemporary design with horizontal wood grain cabinets and stainless steel appliances, polished concrete floors and quartz countertops. Improvements are also underway on the common areas, pool and management office. The property is only a four-minute walk to ASU and conveniently located on the Metro Valley rail line. Sundance Bay also handles management and leasing for the property.