Tempe

Welcome To Tempe

Overview

The City of Tempe may be recognizable as the home of Arizona State University (ASU), but both the city’s location and multiple development projects have continued to create even more reasons to pay close attention. Let’s cover some of what this bustling city has to offer!

Location & Lifestyle

First, it’s interesting to realize that Tempe is landlocked by surrounding cities in the Phoenix metro, including the cities of Phoenix and Scottsdale. In Tempe’s case, its location is a real convenience due to its proximity to the “middle of town”, with ASU sitting around 10 minutes from Sky Harbor Airport, about 20 minutes from downtown Phoenix, and approximately 15 minutes from the shopping and dining attractions of South Scottsdale.

The magic that truly enables this varied access and shortened commutes to different areas of the Phoenix Metro is the network of freeways that touch the City of Tempe, including the 101, 202, Interstate 10, and the US 60. Additionally, Tempe boasts a leg of the Light Rail (Phoenix’s above-ground train) that runs into Downtown Phoenix in one direction and out to Mesa on the other side. With all of that infrastructure in place, it’s easy to see why access to and from Tempe is a major asset for the city.

While the Phoenix metro area does have a solid system of freeways, one thing it isn’t known for is waterfront property. Interestingly enough, this is another place where Tempe shines thanks to Tempe Town Lake. Not only does the lake provide a beautiful view, it also works with the 202 freeway to serve as a functional border, sandwiching a large swath of buildings just north of ASU. This collection of structures contains a large concentration of office buildings, multiple of which are of newer construction. As a result, the office scene in Tempe includes upscale, Class A offices and enjoys a relatively low vacancy rate. With even more potential construction designed for this northern area of Tempe, it’s easy to see why this part of town is worth watching.

While it is important to highlight other elements of Tempe, it would be a tremendous oversight to exclude ASU (even though I graduated from its rival, the University of Arizona; Go Wildcats!). With over 57,000 students enrolled with ASU Tempe in the fall of 2022, the University plays a major role in the whole Phoenix metro area. According to ASU’s website, the university’s economic impact on Arizona’s GDP exceeded $4.6 Billion and the school was responsible for over 55,000 jobs. With numbers like that, it’s easy to imagine this institution’s importance to the local economy.

If you’re considering Tempe for a personal residence or an investment property, you are likely to find a relatively large percentage of homes are older (at least a few decades in many cases), with lots of block homes dating back to the 1950s or 60s. However, detached single-family homes aren’t your only option in this part of town. Interested in more of a WOW factor? Consider a lakefront condo with views (something you don’t find everywhere in the Phoenix metro).

Conclusion

Over time, I have had the privilege of helping multiple clients with property transactions in the Tempe area, in addition to handling renovation efforts in the city. If you think Tempe could be the right city for your purchase, I would love to show you the various areas and neighborhoods that the city has to offer! I’ll see you soon.