New Live-Work-Play Destination to Transform Tempe

The Watermark, the first vertically integrated mixed-use development in the city,
to radically transform the landscape with a unique lakeside destination.

Tempe’s skyline—and its destination options—will soon be dramatically more unique, with a 1.9 million sf project that creates an emotional link between the old and the new spaces of the city. Nestled against the northern bank of Tempe Town Lake and its boardwalk comes The Watermark, a new development unlike any other locally, created by and for Tempe’s current and future residents. In a unique move, The Watermark’s creation was a collaboration between the developers and current city residents, who provided input as to the project’s vision. The result is a pedestrian-friendly, inviting, vibrant and sophisticated destination that will be the backdrop for heartwarming memories for generations.

Sporting 1.9 million square feet upon completion, The Watermark is a high-end, mixed-use project by Fenix Development. Currently under construction, it features stunning architecture with breathtaking features, and will include luxury apartments, premium office space, carefully selected restaurants, retail shops, and a business-class hotel. Exquisite attention to design and details was central to the one-of-a-kind project, which has already attracted high-level restaurants and shops.


The project will also be central to the current rise of Tempe as a tech hub, offering an attractive office and living space option to the many companies relocating from Silicon Valley and Austin, Texas.

“The Watermark is a new chapter in the history of north Tempe. This project will be the Valley’s preeminent live-work-play environment, setting a new standard for [the city],” says Mike Loretz, Project Manager of Fenix Development, the Los Angeles-based real estate and development company.

Phase I of the project is currently underway and includes a 250,000 sf office tower, 43,000 square feet of restaurant and retail space, and 360 luxury apartments. This phase is scheduled to be completed in January of 2019.


Future phases include a second 360,000 sf office tower and an additional 20,000 square feet of restaurant and retail space, and a 170 room hotel.

In the office tower, details will include floor-to-ceiling glass around the building, offering spectacular views of the Valley and Tempe Town Lake; an impressive Sky Lobby with amenities such as the Game Room, Fitness Center, Lounge, Conference Center and Sky Terrace; and a Skywalk Bridge that will connect a parking structure to the eighth floor Sky Lobby. Additionally, the Skywalk Bridge will be lit at night and will display kinetic shimmering dishes, resembling fish scales glimmering in the sun.

The 85-foot-tall residential building will include two resort-style pools; a 4,000 sf, glass-walled fitness center overlooking the lake; an aquatic activities center; an outdoor movie theater; a business center; and a clubhouse.


Other development features include a splash pad located in the center plaza of the development.

“The entire project was benchmarked to be one of the best in the Valley in terms of design, finishes and amenities,” says David Norouzi, President of Fenix Development, “and given the site’s lake-frontage, easy access, abundant parking and proximity to the 202 Freeway, we hope Watermark will become Tempe’s new gathering place.”

“The Watermark is a truly great example of forward thinking and will set a new standard for a live-work environment in the Valley,” says Tempe Mayor Mark Mitchell.

The Watermark is located at 430 N. Scottsdale Road, Tempe. For more information, visit