At the beginning of the year, the city of Tempe was given approval to acquire two historic buildings on Mill Ave., including the space where a popular live music venue once operated.
Now the city is taking steps to bring new tenants to those buildings.
Tempe City Council held public hearings Aug. 31 for ordinances that would allow the city to “negotiate and execute a lease agreement” for the Tempe National Bank building at 526 S. Mill Ave. — built in 1912 — and the Tempe Hardware Building at 520 S. Mill Ave., which was constructed in 1898. A final hearing is set for Sept. 10.
Tempe acquired the Tempe National Bank building in January, while its Tempe Hardware Building acquisition closed in June, according to Maricopa County records. Sales prices were not disclosed for the transactions.
Darkstar Theater, a two-story EDM club, didn’t renew its lease at the Tempe National Bank structure, so the nearly 10,000-square-foot Egyptian Revival-style building now sits empty. The space can accommodate up to four tenants.
Although the city didn’t share specific tenants in the documents, the city said it’s looking for “unique concepts that complement the downtown core, including restaurant, retail, and entertainment uses.”
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