SHOREHAVEN MIXED-USE DEVELOPMENT TOPS OUT IN TEMPE

Shorehaven is the first phase of South Pier, the $1.8 billion master-planned waterfront destination featuring residential, dining, entertainment, shopping, hotel, and office developments

TEMPE, Ariz., Oct. 28, 2024 /PRNewswire/ -- Affiliates of Cantor Fitzgerald, L.P. ("Cantor") and Silverstein Properties ("Silverstein") announce the topping out of Shorehaven, a mixed-use development on the south bank of Tempe Town Lake in Arizona ("the Project").

Built across 3.3 acres, the 1.3-million-square-foot Project features three striking towers, offering a blend of residential, retail, and recreational spaces designed to enhance urban living. Silverstein is leading the development, with Clayco as the builder, DAVIS as project architect, and Katie Bowe Design as interior designer.

A topping out ceremony took place on October 25^th. Project executives and government officials spoke at the ceremony, including Mayor Corey Woods.

"This milestone is a celebration of the dedication and craftmanship of the more than 1,000 men and women who have put their heart and soul into making Shorehaven a beautiful and welcoming place to live and visit," said Ryan Abbott, President, Southwest Region at Clayco. "At Clayco, we believe in creating spaces that are more than structures—they are places where people feel connected and inspired. Shorehaven embodies that vision, offering a beautiful, welcoming environment that reflects the hard work of everyone involved."

Shorehaven represents the first phase of South Pier, a comprehensive master-planned community on Tempe Town Lake, one of Arizona's leading tourist attractions. The $1.8-billion development, when complete, will build out a multi-acre complex of apartment, condo, hotel, and office towers along with an entertainment pier.

The 722-unit luxury residential Project includes more than 840 below-grade parking spaces, 750 bicycle parking spaces, 20,000 square feet of indoor amenity space, 30,000 square feet of outdoor amenity space, and 26,000 square feet of retail at the base of the three towers. Shorehaven is slated for completion in 2026.

"Shorehaven represents the foundation of a new waterfront community in Tempe," said Chris Milner, CIO, Real Assets at Cantor Fitzgerald Asset Management. "This project, supported by Qualified Opportunity Zone investment, will help transform the area into a vibrant community and a premier recreational destination in the greater Phoenix area."

Shorehaven will offer a mix of studio, one, two, and three bedrooms with sweeping lakefront and mountain views. Designed by Katie Bowe Design, the units blend organic textures, rich finishes, and bold architecture to create an immersive living experience. Natural stone, wood paneling, and earth-toned plaster form a layered, refined interior, evoking warmth and serenity. The spacious units include balconies, oversized closets, stainless steel appliances, full-size washer and dryer, and smart home technology. 

The units feature over 50,000 square feet of state-of-the-art indoor and outdoor amenity space that encourages social connection and personal retreat, all set against stunning natural views. Amenities include coffee bars, lounge seating, fitness centers, a yoga studio, a game room, and a business center indoors, while outdoor offerings include two resort-style pools, barbeque stations, yoga lawns, a dog run, and a spa. Local artist, Andy Brown, will create a more than 1,000 square feet of mural art to enhance the retail corridor.

"Shorehaven will not only offer a luxurious lakeside experience but will also serve as a cornerstone for a community-centric destination, enriching both residents' lives and the surrounding waterfront landscape," said Jeffrey Deitrich, Head of Equity Investments and Portfolio Manager of Silverstein Properties. 

A key element of the Shorehaven design is the introduction of monumental curvilinear forms, which act as dramatic focal points throughout the space. The design reflects a connection to the natural environment, with a façade inspired by canyon formations and landscaping that enhances the waterfront experience. Pedestrian-friendly pathways, lush green spaces, and open areas create a sense of tranquility, while also fostering social interaction through public events.

With more than 26,000 square feet of retail space, Shorehaven presents a rare opportunity to create a destination that caters to the 1,100+ future residents. The retail offering includes a waterfront dining experience with views of the lake, a rarity in Phoenix. Cushman & Wakefield is leading retail leasing efforts.

Cantor and Silverstein launched the opportunity zone business in early 2019 to invest in, develop, redevelop, and manage a diversified portfolio of institutional quality commercial real estate assets with an emphasis on multifamily properties located in qualified opportunity zones in the United States. Their opportunity zone development portfolio includes eleven projects in various stages of development exceeding $2.2 billion in total estimated project costs, an average of $203 million per project.

Explore further at LiveShorehaven.com.

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About Cantor Fitzgerald, L.P.
Cantor Fitzgerald, with more than 12,500 employees, is a leading global financial services group at the forefront of financial and technological innovation and has been a proven and resilient leader for more than 79 years. Cantor Fitzgerald & Co. is a preeminent investment bank serving more than 5,000 institutional clients around the world, recognized for its strengths in fixed income, equities, capital markets, investment banking, SPAC underwriting and PIPE placements, prime brokerage, commercial real estate, and infrastructure, and for its global distribution platform. Cantor Fitzgerald & Co. is one of 24 Primary Dealers authorized to transact business with the Federal Reserve Bank of New York.

Howard W. Lutnick, Chairman & Chief Executive Officer, leads Cantor Fitzgerald, L.P., the parent company of Cantor Fitzgerald & Co.

About Cantor Fitzgerald Asset Management
Cantor Fitzgerald Asset Management's investment platform consists of $13 billion of assets under management across mutual funds, interval funds, exchange-traded funds, separately managed accounts, unified managed accounts, non-traded REITs, opportunity zone funds, 1031 and 721 exchange vehicles, and other private investment vehicles managed on behalf of high net worth and institutional investors. The experience and knowledge of its senior leadership and portfolio management teams combined with the financial services prowess of industry leader, Cantor Fitzgerald, enable the delivery of a platform of solutions across a comprehensive range of capabilities. For more information, visit: www.cantorassetmanagement.com.

About Silverstein Properties
Silverstein Properties is a privately held, full-service real estate development, investment and management firm based in New York founded by Larry Silverstein. Silverstein Properties has developed, owned and managed more than 40 million square feet of commercial, residential, retail and hotel space. Recent projects include 7 World Trade Center, the first LEED-certified office tower in New York City (2006), 4 World Trade Center (2013), the Four Seasons Downtown (2016), One West End (2017) and 3 World Trade Center (2018). The company has been recognized as one of the "Best Places to Work in New York City" by Crain's New York Business. For more information, visit: www.silversteinproperties.com.

About Clayco
Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering, and construction firm that safely and sustainably delivers the highest quality solutions to clients across North America on time, on budget, and above and beyond expectations. With $5.8 billion in revenue for 2023, Clayco specializes in the "art and science of building," providing fast track, efficient solutions for industrial, commercial, institutional and residential-related building projects. For more information, visit www.claycorp.com.

About DAVIS
Founded in 1991, DAVIS is an integrated Architecture, Interiors, and Urban Design firm specializing in exceptional Commercial, Office, Mixed-Use, Multi-Family Residential, Hospitality, and reFORM®. The firm's portfolio includes more than 75 million square feet of spaces valued at over $25 billion. Over the last several decades dozens of DAVIS projects have won hundreds of local, regional and national awards. Learn more at thedavisexperience.com.

About Katie Bowe Design
Katie Bowe Design (KBD) is a boutique interior design firm, led by founder and design principal Katie Taratsas, with expertise in both residential and commercial projects. We craft modern interiors that reflect today's lifestyle, blending classical references with a touch of irreverence. By approaching each project with a holistic perspective, KBD creates timeless spaces tailored to the unique needs and visions of our clients. Learn more at www.katiebowedesign.com.

About Cushman & Wakefield
Cushman & Wakefield is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com. 

SOURCE Cantor Fitzgerald, L.P.