Newly entitled land in Tempe, Arizona is now available for purchase and suitable for both apartments and commercial use. Greenstone Partners and ORION Investment Real Estate are currently marketing this property located at 1734 E. Apache Blvd with an asking price of $8.5 million. The parcel consists of four combined lots totaling 83,849 square feet that were recently rezoned to MU-4 (Mixed-Use, High Density) TOD in May 2024.
The City of Tempe has approved a comprehensive site plan for the property which includes plans for 275 residential units and approximately 5,000 square feet designated for commercial space. Along with the zoning map amendment, Tempe’s Community Development Department has also completed a Planned Area Development Overlay that sets standards such as density requirements, building height limitations, lot coverage restrictions as well as landscape coverage guidelines and parking ratios. Furthermore,a thorough review process was conducted by the department including evaluations of site plans , building elevations,and landscape designs.
