The purchase “marks another major investment in our people,” says CEO and Chairman Ray Sedey
St. Louis, Mo.-based general contractor McCarthy Building Companies, Inc. plans to develop a 12-acre former hotel and convention site in Tempe, Ariz., into a training campus for “people development, innovation, leadership programming and company culture” for its 8,000 employees.
The 100% employee-owned construction firm announced in a Jan. 27 press release that it had purchased the abandoned grounds. Local outlets reported weeks earlier that the site was formerly home to a DoubleTree by Hilton Hotel. It was snapped up by McCarthy for $27.5 million, according to Tempe-based real estate database Vizzda LLC
In the press release, McCarthy Chairman and CEO Ray Sedey praised the purchase as a “major investment” in the firm’s “people, performance, and culture.”
“It underscores our long-term commitment to developing the next generation of builders and leaders,” said Sedey. “By creating a dedicated campus for specialized training, connection and leadership development, we’re positioning our employees — and therefore our clients — for long-term success.”
Tempe Mayor Corey Woods added to the praise in lauding McCarthy’s plans to revitalize the property and give its expansive grounds a second life.
“Their significant investment in restoring and improving this property is appreciated, and our city looks forward to hosting the thousands of McCarthy construction professionals who will be visiting each year,” said Woods.
The company says its planned Tempe campus will focus on leadership and executive development as a complement to its existing Innovation and Craft Workforce Center (ICWC) in Chandler, Ariz., opened in 2023, where the company hosts hands-on skills training for its craft professionals and trade partners. McCarthy’s Regional Chief Strategy Officer Antonya Williams says that together the two centers will help advance the firm’s workforce development goals.
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“The passion and talent of our McCarthy partners are at the heart of this effort, and we are all-in on developing our people—at every level—to be visionary leaders of our projects and company into the future,” added Williams in the press release.
McCarthy ranked No. 20 on ENR’s 2025 Top 400 list with over $6.9 billion in revenue.
