Tucson, Ariz. — Several properties under construction near the University of Arizona.
Tucson, Ariz. — Recent zoning changes have attracted several student housing developments in Tucson. The Main Gate Urban Overlay District was an initiative approved by the mayor and city council in February that rezoned properties to the west of the University of Arizona campus.
The move was designed to draw businesses that support pedestrians and public transit, most notably the Tucson Modern Streetcar Line, a $2.1 billion regional transportation project currently under construction that will connect the city’s active areas by an electric rail that will stop every 10 to 20 minutes at 18 points along a 3.9 mile route. The city has set late 2013 as the approximate date service is to begin.
Campus Acquisitions has started building 1020 Tyndall, a 14-story student complex, delivering August 2013. Landmark Properties is building the Retreat at Tucson, the market’s first cottage product. And Capstone Development Partners is at work on The Cadence, a centrally located community that sits at a pivotal address between downtown and the university.
Phoenix-based Summit Builders was just awarded the construction contract for the property. Summit has completed preconstruction services and commenced construction. The leasing office is expected to open in August.
Capstone Development Partners is working with the University of Arizona to steer its on-campus housing goals. The property will cater to upperclassmen and graduate students, while the university focuses on housing its freshmen on campus.
In recent years, the city has been partnering more with the university, and the university has moved some of its offices downtown. The style of Capstone’s building is intended to support the rejuvenation of that area. The plans for the rail line and the new student housing properties are aiming to create continuity between campus and downtown.