In the end, I decided to go with the Residence Inn instead. They had a nice rate and I'm always a sucker for a newer RI in an urban location when I can get it at a decent price.
This one is quite good: RI Tempe Downtown/University at 5th & Forest. Adjacent to the Tempe transit center: you could easily take the train to/from PHX. (Although I haven't done it...Lyft has been too awesome here, never more than a 3 minute wait.) Also walking distance to ASU, Sun Devil Stadium, Mill Street, Tempe Beach Park, etc.
Rather new hotel. Manager's reception has craft and import beer. Good firm mattresses. Nice clean breakfast area. (I ate at 6:30AM so I can't really comment on whether there are crowds at 8 or 9AM.) I'd recommend it...
They upgraded me to a 2bdrm suite (1 king in one room and 1 queen in the other). Traveling solo so I haven't even gone in the queen room, but still...nice touch and kind of rare in my years of RI stays.
Rooftop pool, hot tub, and fire pit. Pretty cool (yet not totally hipster
) place all around. ^