Units will be priced for people making 80 to 120% of the average median income in the Valley, according to a news release from the city. The Tempe project will be constructed among the existing Farmer Studios buildings in the first in what is envisioned to be a series of Dwell developments. The project includes 129 studio and one-bedroom units.
“In Tempe, we recognize that development, business, housing and community are all critically linked,” said Tempe Mayor Corey Woods in a statement. “Dwell will greatly help our city by bringing much-needed workforce housing to downtown Tempe. These homes will allow residents to easily commute by mass transit or even walk to work and Dwell's location will encourage shopping and dining at local businesses in the area. I am thrilled to see this project come to life.”
Holualoa conceived Dwell to be a combination of flexible workspace and apartments for urban professionals. According to the company, the project is designed to address the increasing housing accessibility challenge in urban locations while capitalizing on the emerging trend of hybrid/remote work. Rents are kept lower by building smaller unit sizes, foregoing “resort-style” amenities, and developing underutilized commercial properties to reduce land and parking costs.
The new multifamily project will include a number of amenities to make it not only cost-competitive but an enjoyable living and working environment, including:
Large, landscaped pedestrian areas and a pocket park on Farmer Avenue
Live/work-oriented amenity rooms for residents, as well as “Zoom” rooms with green screens and private meeting rooms
A fitness center and dog-friendly features
Easy, walkable access to light rail, streetcar, restaurants and other amenities
Steve Betts, Managing Director of Development for Holualoa Companies, said that Dwell will contribute to the housing necessary to support Tempe’s growing workforce in the downtown area.
“Tempe is one of the fastest growing communities in the Valley, and this project will provide a critical new resource for housing to support its growth,” Betts said. “As these Dwell communities expand to have a Valleywide presence, they will be an important step forward in creating more housing options in the region.”
A.R. Mays Construction is the general contractor for the project, and Architekton — which is located on site — and Worksbureau are the project architects. Turner CM will provide construction management services, Sender Associates handled the entitlements and HILGARTWILSON is the civil engineer.