A move is underway on the part of the City of Tempe to acquire two historic structures in a significant preservation effort.
One of the structures is located at 526 S. Mill Avenue and has housed the Tempe National Bank. The building was completed in 1912 and designed in the Egyptian Revival Style.
The second structure is the oldest of the two, having been built in 1898. Located at 520 S. Mill Avenue, the building, designed in the Panel Brick Commercial style, was formerly used as a hardware store.
Both structures are listed on the Tempe Historic Property register and have in recent years been repurposed for use as a music venue, with office and retail space.
Funding for the purchases is coming out of a $500 million bond approved by city voters last November, with some $248 million in that bond to be used for the acquisition and preservation of historic properties, among other things.
That bond proposal was approved with well over 70% of the vote.
The idea behind the purchase of the two structures, according to a City of Tempe press release, is to “preserve the buildings for future generations and create more opportunities for small, local businesses.”
January 15, 2026
By Garry Boulard
