Novus Innovation Corridor is a 355-acre public/private partnership with the nation’s “Most Innovative University”, Arizona State University. Strategically integrated with ASU’s Tempe campus along Tempe Town Lake, the mixed-use development enables companies to achieve synergies with a major university, including access to world-class research and a highly educated and skilled workforce. The redevelopment will feature a mix of new and renovated state-of-the-art NCAA athletic facilities and mixed-use private development.

Early phases of Novus include the 2.1-million-square-foot Marina Heights and the $307 million renovations of Sun Devil Stadium. Novus will continue to introduce leading-edge technologies into an urban landscape.

In 2012, ASU issued a request for proposals for a master developer to implement the vision for a world-class innovation hub, and Catellus Development Corporation was announced as master developer and the development agreement was completed in 2016. The development is expected to take place over 25 years.

In 2024, Banbury Development assumed the role of development manager for Novus, bringing forward the same leadership team that has been involved since the project’s inception. In 2026, Banbury acquired Novus from Catellus.