The Boyer Company was selected by the City of Tempe to be their development partner for the IDEA Tempe project—an 18-acre, phased development, located immediately adjacent to the Tempe Center for the Arts on City of Tempe owned land. Boyer provided all development services, all required equity and financial support, construction management services, leasing and ongoing property management services.
The IDEA Tempe site had sat undeveloped for over fifty years. The goal of the City was to create a development that maximized the density of the site and would attract technology focused companies to the area while also taking steps to improve the art experience offered at the Tempe Center for the Arts. Additionally, the City wanted to have a development partner who would work with them on the required site remediation and be a long-term, financially sound owner.
The Boyer Company was responsible for performing all development related services on the site. This includes performing all required due diligence, putting together an overall site remediation and development plan, obtaining all City of Tempe project required approvals, which included the negotiation of a long-term development agreement, established project area CC&Rs, negotiated the unsubordinated ground leases and obtained overall project Planned Area Development approval.