Tempe South Pier Expansion: A Multi-Billion Dollar Opportunity for Investors
Tempe’s skyline is about to get a major upgrade, and if you’re a real estate investor in the Phoenix metro, this is a project worth watching. The massive South Pier development at Tempe Town Lake is moving into its next phase, with McBride Cohen Management Group securing a fresh $35 million investment from JLW Tempe Investments. The goal? More housing, more entertainment, and a revitalized waterfront that could become one of Arizona’s hottest destinations.
A Mega-Project with Big Plans
The South Pier development isn’t just another condo complex. With a projected $4 billion total build-out cost, it’s one of the largest ongoing developments in the Valley. Here’s what’s coming in this phase:
✅ 624 rental units
✅ 80 for-sale condos
✅ Two hotels with a combined 520 rooms
✅ Two office towers
✅ Street-level retail and dining
✅ A multi-acre entertainment district with nightlife, concert venues, and a Ferris wheel
Yes, you read that right—a Ferris wheel. Because when you think “Tempe,” your mind immediately goes to Coney Island vibes.
Why This Matters for Investors
This is not just a fun lakeside project—it’s a major real estate play that could bring strong investment opportunities. Here’s why:
🔹 Increased Housing Supply: With Tempe’s tight rental market, more apartments and condos mean more opportunities for investors to diversify their portfolios.
🔹 Mixed-Use Appeal: The inclusion of hotels, office space, and retail makes this a well-rounded investment opportunity that could drive long-term property value appreciation.
🔹 Proximity to ASU & Downtown Tempe: A location near Arizona State University and major employers means built-in demand for rental units and short-term stays.
🔹 Rising Property Values: Large-scale projects like this boost surrounding real estate prices, making nearby investments more attractive.
What’s Next?
The first three towers, named Shorehaven, broke ground last year and will include 700+ luxury residential units and 26,000 square feet of retail space. Completion is slated for 2026.
The big question: Which hotel brands will move in? The developers are still working that out, but expect major national names looking to capitalize on the Tempe Town Lake boom.
Final Thoughts
Love it or hate it, Tempe South Pier is a big deal for real estate in the Phoenix area. Investors looking for long-term growth opportunities should keep a close eye on how this project evolves.
One thing’s for sure—whether you’re investing in housing or just planning your next Ferris wheel ride, Tempe’s future is looking bright.
Would you consider investing in a development like this? Drop your thoughts in the comments!
