Rio Nuevo Pushes Forward on Downtown Highrise Projects
The Rio Nuevo Board voted unanimously to continue moving to finalize the agreements for the $100 million, 20-story tower known as 75 E. Broadway. “This is the first major office/mixed-use project we’ve seen in Downtown Tucson in decades,” said Board Chairman Fletcher McCusker. Current plans include retail, office space, residential and parking at the corner of East Broadway Boulevard and South Sixth Avenue.
The $38 million conversion plan for 1 South Church moved forward today with a unanimous vote of the Board reaffirming their commitment to the project.
Opwest Partners, an investment and development firm with expertise in mixed-use, hospitality, resort, residential, entertainment, office, retail and recreational properties, is on schedule to revitalize the 23-story tower and convert eight lower floors into a five-star luxury hotel.
“These two projects are huge for Downtown, especially now, and demonstrate the continued commitment to our revitalized urban core,” said McCusker as he closed the meeting.
More information on these projects and downtown can be found at RioNuevo.org
The creation of the Rio Nuevo Multipurpose Facilities District was approved by Tucson voters in 1999, along with an appointed Board, to invest state tax dollars in public and public/private projects to create a vibrant Tucson core. For every dollar the Board invests, the community reaps $10 of construction activity with projects like the AC Marriott Hotel, the Arena, Greyhound, the Mercado Annex, City Park, the Marist project and Caterpillar. For more information, visit rionuevo.org.
