Proposed student housing towers near ASU set for Tempe review

Article originally posted on Phoenix Business Journal on May 1, 2025

Plans for a two-tower, 20-story student housing development across the street from Arizona State University could move closer to reality when they go before the city of Tempe’s Development Review Commission later this month.

The student housing project, called The Leo, will go before the Tempe subcommittee on May 13. If recommended for approval, it will head to Tempe City Council for full approval.

Up Campus Properties, a Chicago-based developer, plans 786 total dwelling units including studios, one bedrooms, two bedrooms, three bedrooms and four bedrooms. As is the case with many student housing projects, individual bedrooms will be rented rather than full apartment units, said Nick Wood, an attorney with Snell & Wilmer who is representing the developer.

The Leo, which will sit on 3.61 acres, will include ground-floor retail space totaling 14,000 square feet. The retail space will be accessible from both South Rural Road and East University Drive.