Arizona State University (ASU) is doubling down on its presence in downtown Mesa, with major redevelopment plans tied to the city’s growing arts and innovation district.
Key Developments:
- Post Office Redevelopment: ASU and the City of Mesa are collaborating on a conceptual redesign of the downtown post office, with Mesa hiring a consultant for up to $500,000.
- Innovation Zone: The expansion aims to build a creative business cluster around the existing Media and Immersive eXperience (MIX) Center, which houses the Sidney Poitier New American Film School.
- New Academic Programs: ASU plans to bring more film, animation, and collaborative gaming programs to Mesa.
- “Lightwalk” Concept: A proposed shaded pedestrian path connecting the Mesa Convention Center to the Mesa Arts Center will improve walkability and connectivity.
- Long-Term Commitment: ASU holds a 100-year lease on the post office building, with the possibility of ownership after public debts are retired.
- Additional Sites Targeted: Five downtown locations are under review for joint development between ASU and Mesa.
Why This Matters for Investors:
- Rising Demand for Creative Tech Space: ASU’s presence could attract media, gaming, and tech startups, boosting rental demand.
- Urban Renewal Momentum: Infrastructure and cultural investment signal long-term property value appreciation.
- Retail and Mixed-Use Growth: The city is focused on maintaining retail and event space, making mixed-use developments more viable.