SCOTTSDALE, Ariz. -- Arizona State University opened SkySong at the start of the Great Recession in 2008. The business innovation center near McDowell and Scottsdale roads has become one of the few success stories in real estate in the past five years.
Now the center is adding SkySong III, which brings more office space for innovation and technology. Ground was officially broken Wednesday. Scottsdale Mayor Jim Lane said it's one more step in revitalizing the McDowell corridor.
"This corridor saw difficult times when several car dealerships left during the recession," he said. "SkySong III is indicative of the progress in this corridor."
The $28 million Sky Song III will open in July. ASU will lease one-and-a-half floors of the four-story building, which will take up 145,000 square feet.
Sharon Harper, CEO with master developer Plaza Companies, said SkySong IV is already in the planning stages.