McBride Cohen Co., Cantor Fitzgerald and Silverstein Properties have closed on a $233 million construction loan for the development of the first phase of South Pier at Tempe Town Lake, a large mixed-use master-planned development in Tempe. Banco Inbursa and Pearlmark provided funding for this project which includes 724 rental units and 26,000 square feet of retail. The three towers will rise 22-, 23- and 24-stories high with one-, two- and three bedroom apartments as well as retail space. Resident amenities are slated to include fitness centers, swimming pools, spas among others with completion expected by spring 2026.
Divided into seven phases, this $1.8 billion project is set to bring 18 buildings online over eight to 12 years including thousands of residential units; two hotels; an observation wheel; multi acre entertainment district plus more than 600k square feet office space spread across multiple high rises . This marks the beginning stage in what is anticipated to be an ambitious endeavor that could potentially transform Tempe Town Lake’s landscape significantly when complete..
