ASU real estate students create redevelopment plans for Turf Paradise
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Students from ASU's Master of Real Estate Development program present their vision for the redevelopment of Turf Paradise on May 1 at SkySong. Photo: Jeremy Duda/Axios
Turf Paradise could be in line for a massive redevelopment project soon, and Arizona State University real estate students have some big ideas about what it should look like.
Why it matters: Redevelopment of the 247-acre site could transform that area of north Phoenix.
The big picture: Students from ASU's Master of Real Estate Development (MRED) program each year participate in "synthesis projects" in partnership with cities and towns or other organizations to craft development proposals for a specific property.
- It's one of three synthesis projects MRED students participate in annually.
- The program chose Turf Paradise near 19th Avenue and Bell Road for this year's project at the request of Phoenix Mayor Kate Gallego and Councilmember Deb Stark, whose district includes the horse racetrack.
The intrigue: Synthesis project proposals sometimes influence real-life redevelopment plans, Mark Stapp, executive director of the MRED program, tells Axios.
- Affordable multifamily housing that replaced a brake shop in Mesa was shaped by a synthesis project proposal, he said.
- Students pursued an arts-focused housing project in Tempe based on a project proposal and got city approval, but were unable to raise the money they needed. "They learned how hard it is to make this stuff work," Stapp said.
Catch up quick: Longtime owner Jerry Simms sold the track to Southern California real estate developer and race horse owner Gary Hartunian last year.
- But Simms still owns the land and the two have been unable to agree on a price, so Hartunian expects to relocate Turf Paradise elsewhere in the Valley.
Zoom in: Students don't just craft development proposals — they work out real-life details like financing, ownership structure, rezoning, permitting, tax credits and construction timelines, along with analysis of the demographics who would be drawn to the housing and businesses.
- They actually speak with the businesses they include in their proposals to ensure their interest.
- "This is a business venture. It's not a planning exercise, it's not an architectural exercise," Stapp tells Axios.
Between the lines: Seven teams of students presented their proposals last Friday at ASU's SkySong innovation center, with three advancing to a final challenge Wednesday, per Stapp:
- A mixed-use development with various types of residential and retail space that features a large central park with a lake that could serve as an event venue, a community garden, pedestrian-only corridors and a new school.
- Another featuring residential, retail, dining and a green belt, with a trade school, business park, auto campus and industrial sites.
- A huge sports and entertainment complex with golf, tennis, pickleball, padel and karting, along with workforce housing, a hotel and a sports medicine complex.
The latest: Hartunian said there's no chance he and Simms will work out a deal to buy the land, and he expects to move forward with relocation plans.
- He tells Axios he's eying the Gila River Indian Community or Salt River Pima-Maricopa Indian Community as potential homes for Turf Paradise.
- Simms is still seeking a buyer for the land, he tells Axios.