Tempe Clears Path For 250 Rio Condo Tower

Tempe just moved a long-idle parcel into motion. City Council signed off on a development overlay for 250 Rio on Jan. 22. That vote resets what can rise along Rio Salado Parkway. You’re looking at housing, not offices. And yes, it lands in the Tempe Town Lake core. Big shift.

Quick Points

• Council approved a development overlay on Jan. 22

• Up to 110 for-sale homes are allowed

• Project name is 250 Rio

• Site sits next to Tempe Beach Park

A Long Idle Site Gets A New Direction

For years, the land sat quiet. No buildings. No use. Now it has a path forward. The approval allows housing where offices once led the plan. You’ll see a 16-story condominium tower take shape if later steps line up. The site spans about two acres near the lake edge. It also holds a rare status. This is one of the last undeveloped parcels in the Tempe Town Lake core. In “The Valley,” that matters.

• Two-acre footprint

• Vacant for years

• Town Lake core parcel

• Office plan dropped

This vote does one thing well. It removes a zoning wall. The rest still comes later.

Also Read: Office Project May Change To Condos In New Tempe Lake Plan

What Rises At 250 Rio

The plan calls for ownership housing. Not rentals. Not offices. Think stacked homes in the sky with a few at street level. The residential mix skews larger than many Tempe projects. Families fit here. So do downsizers.

• About 75 two-bedroom homes

• Around 23 three-bedroom homes

• Roughly a dozen larger layouts

• Some walk-up townhome units

Amenities sit inside the project. Details wait for design review. Still, the unit count sets the tone. Fewer homes. Bigger floor plans. Different buyer.

Where The Project Sits

Location does the heavy lifting here. The parcel hugs public space on two sides. You step out and hit the park. Or the lake path. Or the bridge.

• Tempe Beach Park to the north

• Tempe Beach Park to the east

• Rio Salado Parkway south side

• Rio Salado Parkway west edge

This setup pushes the design to face outward. Public space surrounds it. That shapes how the building meets the ground.

Also Read: 250 RIO Condo Plan Moves Closer To Reality Near Tempe Lake

Design Moves Tied To The Site

Old Ash Avenue cuts through the property. It stays. Plans call for keeping it and fixing it up. That move keeps a historic street alive. It also helps people move through the site on foot.

• Old Ash Avenue stays in place

• Street gets rehabilitation work

• New public walkways planned

• Better links to park and bridge

The goal is flow. Park to bridge. Bridge to lake. The project plugs into that network.

Who’s Behind The Project

Hines leads the development. The firm is based in Houston. It bought the property in 2021. Back then, the vision pointed to offices. That changed with market shifts.

• Developer is Hines

• Property bought in 2021

• Office plan dropped

• Housing plan replaces it

A prior office concept came with a tax abatement request. That deal tied to public work and community items. With housing now on deck, those terms may change.

What Comes Next

This approval checks one box. Others remain. You won’t see shovels tomorrow. Design review comes first. Permits follow. Financing plays a role too.

• Detailed design review ahead

• Building permits required

• Development Review Commission steps remain

• Timing tied to financing

For now, 250 Rio has clearance to keep moving. In Tempe. Along the lake. Right where change keeps finding room.

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