Vestar has been selected as the primary property manager for the hospitality district within Tempe’s Novus Innovation Corridor.

Vestar will work with Catellus Development Corp. and Arizona State University.

The corridor is on 355 acres next to Tempe Town Lake and along Rio Salado Parkway and Rural Road.

It is an urban mixed-use development, “creating a fully walkable, sustainable neighborhood destination,” according to a release announcing Vestar’s involvement. It is expected the project will take more than 10 years to complete.

Vestar’s services will be used in two buildings – 777 Tower Retail and The Piedmont Retail – that are to grow to more than 100,000 square feet over the next few years, the release stated.

Vestar also operates Tempe Marketplace next to the Novus project.

“We have deep ties in the Tempe community,” said Pat McGinley, president of Management Services for Vestar.