The second phase of construction has been completed for a mixed-use development in the Phoenix area billed as the "first walkable community of its kind."
Culdesac Tempe has been selected by a panel of local industry professionals as the winner of the 2025 CoStar Impact Awards for multifamily development of the year for Phoenix.
Culdesac Tempe is designed to provide residents at its multifamily properties with retail options, commuting alternatives and essential services within the confines of the development, in an effort to eliminate the need to own or drive a personal automobile and reduce the environmental consequences associated with combustion vehicles.
The development includes about 700 apartments in buildings laid out in an almost Tetris-style format, with pedestrian and biking trails throughout. For retail, Culdesac Tempe includes a local cafe, Mexican restaurant, a Korean market that includes a food court and household products, a weekly night market and more than a dozen locally owned small businesses. For exercise, residents have access to a two-story fitness center and a pool, in addition to miles of paths.
As a "walkable community," Culdesac Tempe does not provide parking for residents; instead, the development includes various public transportation options, including access to the area's light-rail system; a full-service, on-site electric bike shop; an on-site fleet of Envoy electric carshare vehicles; on-site Bird rental scooters; and Waymo autonomous vehicle pick-up and drop-off zones. There are parking spaces surrounding some portions of the development that are designated for visitors, deliveries and patrons to Culdesac Tempe's retail options.
About the project: Culdesac Tempe includes more than 700 furnished and unfurnished apartments, including studios and one-, two- and three-bedroom units. Some apartments include balconies and patios. Culdesac is the owner of the property.
What the judges said: Steven Schwarz, founding partner at ViaWest Group, said it is "innovative and risky to do things different than others" and that Culdesac Tempe is a "taste of the future."
Another judge said the development is an "exciting new concept" based in an otherwise "car-centric market."
They made it happen: Ryan Johnson, CEO, Culdesac; Caroline Lerner Perel, chief investment officer, Culdesac; John Graham, chairman and CEO, Sunbelt Holdings; Tony Avila, co-founder and managing principal, Encore Capital Management; Dan Parolek, founding principal, Opticos Design; Matthew Salenger, managing partner, coLAB studio; Kris Floor, founding partner, Floor Associates; Glenn Leier, principal, Wespac Construction; Logan Powell, division president of Commercial Operations, Porchlight Homes; Darin Moore, principal, Wood/Patel.