new tucson highrise ready for construction

Several years in the planning stage, a mixed-use highrise may at last become a reality on a downtown Tucson site that is currently a parking lot.

Members of the Pima County Board of Supervisors have given their approval to a deal that will allow the Rio Nuevo tax increment finance district to lease the property, while working with a developer to get the project built.

Once that construction is completed, Rio Nuevo will be able to purchase the property for an agreed-upon $2.7 million.

As envisioned, the high rise at 75 East Broadway will house ground level entertainment, retail and restaurant space, with Class A office space on the upper floors.

The building will also feature upper level glass walls, a 10th floor with an outdoor landscaped terrace, and a top floor offering 12,000 square feet of restaurant space.

The real estate and investment firm CRBE Group, Inc. has been brought in as the leasing agent for the new property.
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If all goes as planned, work on the new high rise, in a part of the city populated with hotels and both older and newer offices buildings, will begin later this year.

By Garry Boulard

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