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Westin Hospitality Property Undergoes $30M Renovations

Westin Hospitality Property Undergoes $30M Renovations

The Westin La Paloma Resort & Spa, a 250-acre hospitality property nestled in the foothills of the Santa Catalina Mountains, is currently undergoing a $30 million renovation that began in the spring of 2012.…

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Campus Acquisitions Breaks Ground on Second Student Housing Complex West of UA

Campus Acquisitions Breaks Ground on Second Student Housing Complex West of UA

Chicago-based Campus Acquisitions has broken ground on a new student housing complex near the University of Arizona in Tucson, which will be built by Beal Derkenne Construction. The 13-story high-rise is slated for completion in August 2014.…

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Tucson Medical Center Unveils $134M Orthopaedic and Surgical Tower

Tucson Medical Center Unveils $134M Orthopaedic and Surgical Tower

Tucson Medical Center (TMC), the leading provider of comprehensive healthcare services to greater Tucson and the Southern Arizona region, announced opening of its new state-of-the-art surgical and orthopaedic tower that has been in the works since 2009.…

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New Housing Complex to Revitalize Tucson’s South Side

New Housing Complex to Revitalize Tucson’s South Side

Tucson’s multifamily market continues to show signs of improvement mainly due to a steady job growth and an increasing student population in the area. Investor interest in apartment assets remains strong, with larger real estate companies targeting luxury properties, especially developments close to the University of Arizona and major employment…

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Rio Nuevo Asked to Provide Loan for $22M Downtown Hotel Project

Rio Nuevo Asked to Provide Loan for $22M Downtown Hotel Project

The 135-room hotel that developer Scott Stiteler is planning at the intersection of Fifth Avenue and Congress Street misses a final piece to become a reality – a $2.5 million loan that the Rio Nuevo board has been asked to provide.…

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Tangerine Corridor in Tucson Sees Residential Building Boom

Tangerine Corridor in Tucson Sees Residential Building Boom

Accounting for nearly two thirds of new home construction in northwest Pima County, the Tangerine Road corridor has recently become the “place to be” for homebuilders. Not only will the area dominate Tucson’s residential market this year, but it will also attract even more investors and homebuilders in the next…

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Plans to Upgrade Tucson Convention Center, Build New Convention Hotel

Plans to Upgrade Tucson Convention Center, Build New Convention Hotel

The City of Tucson and the Rio Nuevo Multipurpose Facilities District finally reached an agreement that would bring a new convention center hotel in downtown Tucson. According to the long-awaited settlement, Rio Nuevo will invest $6 million in upgrading the Tucson Convention Center.…

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NY Developer Acquires Last Lots in Master-Planned Community from Forest City

NY Developer Acquires Last Lots in Master-Planned Community from Forest City

New York-based Petrus Partners Ltd. has recently announced the acquisition of the last undeveloped lots remaining in Gladden Farms, a 1,350-acre master-planned community in Marana. This is Petrus’ 13th residential land acquisition in Arizona since 2008.…

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Two Local Retail Centers Change Hands for $42.6M

Two Local Retail Centers Change Hands for $42.6M

The local real estate market started the year on a positive note with two significant deals taking place in January; two retail centers were sold to investors for a total of $42.6 million.…

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Single-Tenant Office Complex in Tucson’s East Side Sells for $17.8M

Single-Tenant Office Complex in Tucson’s East Side Sells for $17.8M

A California non-profit group paid $17.85 million for an office complex located near east Speedway and north Kolb Road, on Tucson’s east side. The buyer is the H.N. and Frances C. Berger Foundation, based in Palm Desert.…

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Campus Acquisitions Tops Up $25M Hi-Rise Near Univ. of Arizona

Campus Acquisitions Tops Up $25M Hi-Rise Near Univ. of Arizona

The $25 million student housing that Chicago-based Campus Acquisitions is developing near the University of Arizona has recently topped out at 14 stories high. Expected to open in late summer of 2013, the 300,000 square-foot upscale project will include 176 units and house about 550 students.…

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$52M Hospital Project in Green Valley Meets Community Opposition

$52M Hospital Project in Green Valley Meets Community Opposition

Green Valley’s first emergency room hospital, about 25 miles south of Tucson, could be blocked due to objections from a homeowners association. In October 2012 news broke that Tucson Medical Center would develop and operate the $52 million hospital and emergency room project with Scottsdale-based McDowell Enterprises.…

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