Tempe’s South Pier developer adds investor, eyes more phases

Article originally posted on Phoenix Business Journal on November 27, 2024

One of the Valley’s largest ongoing development projects is approaching a key milestone.

South Pier, a project along Tempe Town Lake that could eventually approach $4 billion in total construction costs, has added a new investor as the next phase of the megaproject approaches.

Developer McBride Cohen Management Group LLC recently raised more than $35 million from JLW Tempe Investments LLC, according to a deed filed in Maricopa County.

“We are thrilled to announce the closing of this new investment in South Pier at Tempe Town Lake. With this capitalization, The McBride Cohen Company has established a new affiliate in partnership with JLW – a group we have worked with over the past two decades on numerous apartment, condo and hotel projects totaling more than 750 units,” said developer Loren McBride Cohen in a statement.

Read the complete article here: https://www.bizjournals.com/phoenix/news/2024/11/26/tempe-megaproject-new-investor.html