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Sandra Baldwin

Realtor - Co-Founder at Launch Real Estate

  • Office (602) 397-4300

17 W University Drive (unit 1), Mesa, AZ – $3,000,000

  • $3M Price
  • 1.31 Acres
  • $3M Price
  • 1.31 Acres

17 W University Drive (unit 1)

Located in the Downtown Mesa Innovation District as well as in theOpportunity Zone, 17 - 37 West University is a 94-unit shovel-readydevelopment opportunity. The approved unit mix consists of 46 one bedroom / one-and-one-half bathroom units and 48 two-bedroom / two bathroom units. There are an additional three parcels on the north side of University on which currently sit a vacant car wash and an occupied duplex. These additional parcels have different zoning and could be redeveloped, kept and leasedfor additional income, sold individually to lower your basis, or used foradditional parking, just to name a few options. This project is ready to goa buyer could pull permits on it immediately. 17 - 37 West University is located in the heart of Mesa, right in the downtown Mesa Innovation District. Innovation Districts are geographic areas where leading-edge anchor institutions and companies cluster and connect with start-ups, business incubators, and accelerators. They are also physically compact, transit-accessible, 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. 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 city-owned 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 community-driven 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, up-andcoming parts of the metroplex. Located walking distance to all the Mesa Innovation District has to offer, this downtown Mesa fully permitted and shovel ready project allows a developer to hit the ground running in one of the hottest areas of town.

Essential Information

  • MLS® #6511072
  • Price$3,000,000
  • Acres1.31
  • TypeLand / Lot
  • StatusActive

Community Information

  • Address17 W University Drive (unit 1)
  • SubdivisionMESA ARIZONA
  • CityMesa
  • CountyMaricopa
  • StateAZ
  • Zip Code85201

Additional Information

  • ZoningMulti-Family, Commercial

Listing Details

  • OfficeABI Multifamily
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ABI Multifamily.

Information Deemed Reliable But Not Guaranteed. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. ARMLS Logo indicates that a property listed by a real estate brokerage other than Launch Real Estate LLC. Copyright 2023 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

Listing information last updated on February 2nd, 2023 at 5:17am MST.