What are the new 15-story apartments going up near ASU in Tempe?

Article originally posted on AZ Central on July 31, 2025

Location: South Terrace Road and East Orange Street in Tempe.

Description: Verve Tempe is a 15-story, 240-unit student housing complex near Arizona State University, light rail and night life.

The 479,388-square-foot building offers 769 beds with a mix of studio, one-, two-, three- and four-bedroom layouts. It also features a two-story gym, study rooms, rooftop pool and hot tub, golf simulator, lobby coffee bar and more.

There will also be 2,030 square feet of street-level retail.

Verve Tempe will neighbor Canvas, another student housing complex from the same developer, Subtext. Canvas opened in 2021.

History: Verve Tempe Terrace, LLC, bought the location in May 2024 from Park Tempe, LLC, for $13 million.

When will the work be done? It is expected to open in August 2026.

Sources: Verve Tempe, Subtext Living, Arizona State University, Maricopa County public records