Huge project to create jobs
$600 mil, 20-acre Marina Heights to include State Farm regional HQ
Ground is broken on Marina Heights, a 20-acre, $600 million, mixed-use development along the southern bank of Tempe Town Lake that is expected to generate thousands of jobs. A State Farm insurance regional headquarters will anchor the development.
The massive Marina Heights development in downtown Tempe, to be anchored by a State Farm insurance regional headquarters, is expected to become a job hub that will draw hundreds of Valley-based prospects, dignitaries said during ceremonies Wednesday.
Ground was broken on the 2 million-square-foot, 20-acre, $600 million mixed-use development that is expected to take some of the sting out of the anticipated loss of the US Airways corporate headquarters in the downtown area. The airline has said its headquarters will move to Fort Worth, Texas, when its merger with American Airlines is complete.
The bulk of the Marina Heights complex, on a site owned by ASU just east of the
commercial and condo highrises on the southern edge of Tempe Town Lake and just north of Arizona State University’s Sun Devil Stadium, will be occupied by State Farm, which Gov. Jan Brewer said reflects the state’s fast-growing economy.
Brewer said she envisions that State Farm and other Marina Heights employers will draw from Arizona’s talent pool, especially ASU graduates.
“Arizona has cultivated one of the premier business climates in the nation, and companies are taking notice,” Brewer said.
ASU President Michael Crow said the school had its own stake in the project, with the ASU Athletic Facilities District being adjacent to Marina Heights.
“The hope for us is that ASU can be of greater service to State Farm,” Crow said. “New people, new ideas and new engagement.”
Crow envisions the influx of employees bringing profits to the university’s sports district, which in turn would support renovation of Sun Devil Stadium, something Crow says has long been needed.
Renderings of the fivebuilding complex were unveiled Wednesday. The first structure, 370,000 square feet, is expected to be completed by mid-2015.
The development partners are Sunbelt Holdings and Ryan Cos.
Tempe Mayor Mark Mitchell said the project will bring thousands of jobs, boosting the entire Valley. He said that al-