Temple Town Lake a mixed use project in Phoenix Arizona that will include residential, office, entertainment, retail and 2 luxury hotels has secured $223 million of funding from Banco Inbursa for phase one to proceed. The multibillion dollar mixed use project from developer McBride-Cogen Management is being developed across 18 acres along Vista Del Lago Drive on the Tempe lakefront. McBride-Cohen and partners Cantor Fitzgerald and Silverstein Properties started construction on the first phase earlier in the year. The three apartment towers in the first phase are expected to be completed in the next 42 months. In addition to the towers in the first phase, South Pier will include more housing units and retail that will be built in subsequent phases. McBride-Cohen will build more than 2,500 units across rentable apartments, condominiums, along with senior housing and also plans two luxury hotels, more than 600,000 square feet of high-rise office space and a multi-acre entertainment district including restaurants, nightlife experiences, concert venues, fountain shows and a large Ferris wheel. Lee & Associates Arizona’s Bill Blake and Colton Trauter are handling office leasing, Western Retail Advisors is in charge of retail leasing and Greystar for management at the apartment towers. Construction cost are estimated at $4 billion for the complete build-out of South Pier. The project will total 18 buildings and construction is expected to last over the next eight to 12 years. Clayco is the general contractor for the first phase of the project while The Davis Experience is the architect. Loren McBride Cohen is CEO of McBride Cohen.
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