TEMPE, AZ-Yet another developer has acquired a site along a planned light-rail route to develop student housing for the rapidly growing local campus of Arizona State University. A company formed by Glenwood Intermountain Properties of Provo, UT has paid $4.12 million dollars for a 1.5-acre site for a 317-bed project.

Glenwood Student Communities, which owns five properties near Brigham Young University in Provo housing more than 3,500 students, will seek rezoning approval to build 124 units on the site at 1000 E. Apache Blvd., which currently holds a small office building. According to Glenwood’s acquisitions director Jeremy Carver, the company wants to build a five-story structure with 4,300 sf of ground-floor retail space and 274 parking spaces.

The Retreat at 1000 Apache is being designed by Ken Harris Architects in Provo. No budget has been established and rents have not been set. This is the company’s first development outside Utah.

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