Construction Commences on $118M ASU-Phoenix Residence Hall

Capstone Development Partners broke ground on a $118-million, mixed-use, student-housing project serving students attending Arizona State University’s downtown Phoenix campus. The 530-bed development will include more than 75,000-square-feet of academic space, design and fashion studies, music practice and ensemble rooms, music recordings, classroom space and areas for live events. The project at 1st Avenue and Fillmore Street is scheduled to deliver by fall, 2021.

The project is Capstone’s third public-private partnership with ASU, and its second on the downtown Phoenix campus. Studio Ma is the architect, and DPR Construction is the general contractor. Financing was obtained through purchase of tax-exempt bonds on behalf of ASU, with the facility being owned by a 501(c)3 non-profit entity.

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