Ari on Fourth
$130-Million Apartment Project Opens Near Downtown
By Tom Leyde
A new 13-story apartment complex in the heart of Downtown Tucson officially opened in August, offering 323 multi-family units for lease.
A ribbon cutting ceremony for Ari on Fourth, 211 N. Fourth Ave., was held on Aug. 8 and marked the conclusion of the $130-million project that began with city approval in 2018.
Opus Group, headquartered in Minneapolis, developed, designed and constructed the 13-story project in partnership with Bridge Investment Group. The building offers one-, two-, three- and four-bedroom apartments with many amenities.
The project also includes 4,971 square feet of retail space on street level.
The ribbon cutting took place on the third-floor deck of the project which features a pool, hot tub, game room, lounge and a mural by Tucson muralist Joe Pagac. The third floor also includes a large gym and sauna, and there are study rooms on each floor.
“We just love the value of Fourth Avenue,” said Jay Ramos, senior director of development for the Opus Group. “It’s such a great historic street. I think we can add to it and be a part of it.”
“I want to congratulate those involved in this beautiful, wonderful addition to our community,” said Tucson Mayor Regina Romero. “This development is a perfect example of and model to what we want to see happen in the city of Tucson.
“It embraces the streetcar and the location where you are, and it provides valuable housing opportunities for families and students and young professionals in our community,” Romero said. “So, I’m really happy that we’re finally here.”
Romero added that the project provides space for electric vehicles.
“I know that you’re working hard with the Fourth Avenue Coalition and the Fourth Avenue Merchants Association to be a good neighbor, to be a good partner,” Romero said. “Because this particular development created an agreement with the neighbors and the Fourth Avenue Merchants Association, we have a wonderful model for other developments to work with, to be mutually beneficial.”
Alex Murphy of Bridge Investment Group called the project unique. “We had 20 or 30 projects that started at the same time and this is the only one, literally the only one, that came in on time,” he said.
Cardinal Group is managing Ari on Fourth. At press time, the building was about 35% leased. Move-in began in mid-August. The units range in price from $1,600 to $3,600 a month.
Fans of the new complex posted comments on Cardinal Group’s website:
“I appreciate the details such as walk-in glass showers, the high efficiency glass windows to reduce heat and electric costs, the ceiling fan/lights in the bedrooms and the kitchen appliances,” said Ruth Simmons. “The amenity spaces look amazing. Having the college pickup spot right outside their front doors is a huge plus.
“My daughter is very lucky to be moving into such a beautiful place so close to campus. The rent was very reasonable. We toured many places both higher and lower in cost and Ari was the clear winner between all three girls who are rooming together.”
Added Ameshea Grays: “I’ve been thoroughly impressed with my experience at Ari on Fourth! The property itself is stunning, with a unique and modern design that truly sets it apart. But what really makes Ari on Fourth stand out is the exceptional management team. The combination of amazing amenities and top-notch management makes Ari on Fourth the perfect place to call home.”
A government property lease excise tax offered through the City of Tucson provided incentive for project. Allowed by state statute, it gives city-approved projects eight years of deferred property taxes.
After eight years, 10% of what would have been paid in property taxes is collected for other institutions that would have shared the deferred taxes.
“We try to smooth the (development) process,” said Barbara Coffee, the city’s economic initiatives director. “We enjoy when we get to this point to celebrate.”