Tempe council votes to approve ordinance to lease bank, hardware buildings
524 and 526 S. Mill Avenue were once occupied by Tempe National Bank and Tempe Hardware. Now, the buildings are both open to lease.
(Independent Newsmedia/Madeline Bates)
For almost a year the Tempe National Bank and Tempe Hardware buildings on Mill Avenue in downtown Tempe have been vacant. The city aims to change that.
The council recently unanimously approved an ordinance authorizing the city to lease the historic bank and hardware buildings on Mill Avenue at 524 and 526 S. Mill Ave. in downtown Tempe.
Past businesses have cited raising rent costs, construction and slower traffic in the downtown area as to why many businesses have left the area or closed indefinitely.
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For almost a year the Tempe National Bank and Tempe Hardware buildings on Mill Avenue in downtown Tempe have been vacant. The city aims to change that.
The council recently unanimously approved an ordinance authorizing the city to lease the historic bank and hardware buildings on Mill Avenue at 524 and 526 S. Mill Ave. in downtown Tempe.
Past businesses have cited raising rent costs, construction and slower traffic in the downtown area as to why many businesses have left the area or closed indefinitely.
Koby Preston, a law clerk, spoke to the council about the EDM scene, or Electronic Dance Music areas that have been monopolized by large companies, and contributed to the loss of Darkstar, an 18-and-over Tempe nightclub that once occupied the bank building and closed in January.
“I ask that you all keep in mind the broader context of the industry to prevent monopolization in the city.”
Robert Moore, president of the Tempe Historic Preservation Association, said this could also be an opportunity to bring back a business based in art to the downtown area.
“This is a great opportunity to create more community spaces. We have to start somewhere and this can be a space that can re-seed the art environment of downtown,” he said.
The council did not have comments about the project and did not discuss potential tenants in public. Per the city charter, the ordinance will be effective in 30 days, or on Oct. 10.
To voice your opinion on this story, connect with us at AzOpinions@iniusa.org.
Madeline Bates joined Independent Newsmedia in 2025 as a Phoenix/Tempe reporter. Before graduating college, she spent a semester in Washington as a Congressional reporter in the first 100 days of the second Trump administration. But local news is where her heart is. She is excited to be in Phoenix full time and exploring new parts of the city (as long as they have AC).
Community: After living in East Phoenix for two years, she fell in love with Paradise Valley, Mesa, Tempe, and everywhere in between. She recently discovered the beauty of the South Mountain Reserve and hopes to continue exploring should the weather comply.
Education: Madeline has a degree in Journalism and Mass Communications from Arizona State University’s Walter Cronkite School of Journalism and a certificate in Political History and Leadership.
Random Fact: She is a self-taught nail tech. No, she cannot do your nails.
Hobbies: Hiking (when its not 100 degrees), fiction writing, cooking, baking and trying new coffee shops.
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