Active

17 W UNIVERSITY Drive # 1

Mesa AZ, 85201

$2,400,000


$60.89 per sqft

Active

0.9 Acres

Land

Located in the Downtown Mesa Innovation District as well as in the Opportunity Zone,
17, 31, & 37 West University is a 94 unit shovel-ready development opportunity. The
approved unit mix consists of (46) one-bedroom / one-and-a-half bathroom units and
(48) two-bedroom / two-bathroom units. This project is ready to go a buyer could pull
permits on it immediately. Seller has also begun site planning for a surfaced parked
design with 54 units that would be ideal for affordable housing, student housing, or
assisted living.
17, 31, & 37 West University is located in the heart of Mesa, right in the downtown
Mesa Innovation District. Innovation Districts are geographic areas where leadingedge anchor institutions and companies cluster and connect with start-ups, business
incubators, and ...and accelerators. They are also physically compact, transit-accessible, and
technically-wired, and offer mixed-use housing, office, and retail. Innovation districts
bring together a diverse population looking for better places to live, work, and play,
inducing an eclectic mix of housing, jobs, and amenities in a walkable community. In
2018, Mesa hosted two Brookings Institution officials who visited Mesa and found that
Mesa was well poised to develop an innovation district. Mesa began construction on a
new state of the art building which will house Arizona State University's Sidney Poiter
New American Film School. This program will serve as the anchor research institution
for the Downtown Innovation District.
The ASU Sidney Poitier New American Film School is a three-story, approximately
117,795 square-foot academic building with 1,500 square-feet of commercial space,
located at the northwest corner of Pepper Street and Centennial Way, that will house
programs offered by the Herberger Institute for Design and the Arts related to digital
and sensory technology, experiential design, gaming, media arts, film production
and entrepreneurial development and support. These programs will utilize augmented
reality, virtual reality and 3D modeling and visualization to develop technology with
the potential to impact industries as diverse as health care, aerospace, manufacturing
and entertainment. ASU will offer 25 annual scholarships for Mesa residents. The
ground floor will contain a large exhibition gallery, screening theaters and a social
cafe. The upper floors will include a mix of production studios, fabrication labs,
flexible classrooms and innovative spaces for collaborations with community and
industry. Unique to this building will be a 2,800 square foot enhanced immersion
studio where users can create augmented realities and map virtual spaces onto physical
environments.
In addition to the primary academic programs, a number of co-curricular programs are
planned to amplify the student experience and connect the facility's programs to the
larger innovation district. So far, those programs include Entrepreneurship + Innovation
and FilmSpark. The project budget is $73.5 million.
Other projects of note in the Innovation District include: 1.) The Plaza @ Mesa City
Center: a two-acre gathering place, located just south of the ASU building, with a
large open community space, water feature and seasonal ice rink. 2.) Benedictine
University 3.) ThinkSpot at Mesa Main Library 4.) Launchpoint Accelerator 5.) Studios
@ City Center: Formerly the Mesa City Library, this three story 26,000 square foot cityowned building is receiving a multi-million dollar renovation including new mechanical
systems and a new outboard core. The first 7,600 composing the 1st floor of the
building will be managed in partnership with the ASU J. Orin Edson Entrepreneurship
and Innovation Institute. The Studios is intended to be a shared space for ideas between
students, entrepreneurs and industry leaders. 6.) HeatSync Labs is a communitydriven 501(c)3 non-profit shop and workspace where engineers, artists, students, and
hobbyists come to make prototypes, art, and other creative projects.
Needless to say, this opportunity sits in one of the most dynamic and up-and-coming
parts of the metroplex. Located walking distance to all the Mesa Innovation District has
to offer, this fully permitted projects allows a developer to hit the ground running in
with a ready-to-go project in one of the hottest areas of town.

6593266

MLS ID

August 16, 2023

Listed

May 10, 2024

Updated

Map

17 W UNIVERSITY Drive # 1
Mesa AZ, 85201

Exterior/Building Features

Lot Size

0.9 Acres


Lot Features

Other


Sewer

Other

School Information

School District

Mesa Unified District

Other Property Details

Taxes

$6,800


Tax Frequency

Annually


Days on Market

160


Garage

No


View

No


County

Maricopa


Water Source

None


Pool

No


Waterfront

Yes


Zoning

DB-1, T4NF


Buyer Agency Compensation

2.5%

Courtesy of ABI Multifamily, John Klocek

Listing Contact: 602-639-0088 

All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Shar Rundio Team shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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Data Last Updated: 8:43 PM UTC, 5/10/2024.

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