A project with a mix of residential units and retail space is set to be built near the Santa Cruz River in downtown Tucson.
What is being called The Bautista will see the construction of several multi-story structures surrounding a landscaped central plaza.
Designed by the Pasadena, California-based architectural firm of Moule & Polyzoides, the project is going up in a defined Opportunity Zone, making it eligible for any number of tax credits.
After conducting an independent study looking at the project’s feasibility, the local Rio Nuevo Tax Increment Finance Distract board agreed to purchase the land for the site, with the Tucson-based Gadsden Company agreeing to pay some $4.7 million in future rent from the property.
Gadsden envisions just over 250 residential units for the site, along with around 16,500 square feet of retail space.
What could ultimately be a more than $72 million project is expected to see work begin by early summer, with a general completion date of late summer or early fall 2022.
By Garry Boulard
Your comment will be posted after it is approved.
Leave a Reply.
Get stories like these right to your inbox.