The very large 1 loop rectangle swim course takes place at Tempe Town Lake. Tempe Town Lake looks more like a river than a lake. It's relatively narrow, but is ready-made for a triathlon swim - spectators can follow the entire swim race by simply walking along the shore. While the water is very murky (you can barely see your hand in front of you), the cool water (about 64 degrees in 2005), is very pleasant to swim in!
average water temperature on race day is around 65F