University proposing plans to develop hotel, conference center
An item on this weeks Arizona Board of Regents agenda will discuss authorization to approve University plans to develop a hotel and conference center on Mill Avenue and University Drive.
Morgan Olsen, executive vice president, treasurer and chief financial officer, said in an email that if authorized by ABOR, ASU will proceed to negotiate with developer USA Place LLC to develop the land on the southeast corner Mill Avenue and University Drive.
AZcentral.com reported Monday that the project could be linked with the relocation of USA Basketball, the organization responsible for choosing the olympic basketball team, but Olsen said any speculation about tenants that might lease the space in buildings not yet built is "speculative and premature."
"Once a development agreement is in place, specific prospective tenants can be secured," he said.
ASU spokeswoman Julie Newberg said the item will be on the ABOR Business and Finance agenda Wednesday and will reach the full board Thursday.
"We will be able to share plans for specific uses once the negotiations with the developer are complete," she said.
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