High rise building planned for Tempe Town Lake

Ryan Companies U.S. Inc. and Sunbelt Holdings announced today that they will build a new 10-story high rise office tower on the southern shore of Tempe Town Lake next to an existing office tower that houses major financial and tech businesses. The new high rise will sit at the northeastern corner of Mill Avenue and Rio Salado Parkway. With office space virtually full at Hayden Ferry Lakeside, the lake property Parkway recently purchased, Tempe officials said Town Lake is a sought after site for high-profile businesses wanting a prominent setting for their facilities. City leaders and developers hailed the high rise project as a signal that the recession is over and said more than 900 jobs are expected to be generated by the development.

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