South Bank development breaks ground, an article from The Arizona Republic, reports that South Bank will be a 3.6 million-square-foot mix of restaurants, retail, hotels, business and residential development worth about $1 billion.

Tempe Mayor Hugh Hallman said, "Finally we have this project going. It will add residential opportunities and jobs for people in restaurants and hotels; but perhaps more importantly, no raw desert on the edge of the Valley will be destroyed for houses and offices. It's urban infill and one of the most sustainable projects we have in Tempe."

According to Peter Wolff, co-president of the Wolff Company, an immense amount of construction work needs to be done on the 27 acres and it's likely that it will be at least four years before the project is done.