Rio Nuevo Approves Plan for Larsen Baker to Develop The Sol Block
In its first meeting of 2023, the Rio Nuevo Board unanimously approved a lease and development agreement, turning over the development of The Solot Plaza to the team led by Larsen Baker, one of Tucson’s most prolific real estate development companies.
Larsen Baker indicated it intends to invest approximately $5 million into the entire block and present a remodeled and rebranded mid-century plaza now named The Sol Block, with parking and entrances relocated to the rear of the property.
“We created design concepts that enhance the historic facades and will make people see these buildings again for the first time,” said Melissa Lai, president of Larsen Baker. “We’re hoping this project will create momentum for further development along the Sunshine Mile.”
Rio Nuevo committed $1.25 million toward tenant improvements and committed to purchase an easement to the west of the property to build a driveway that will allow for Broadway traffic access. Construction is planned to begin in April and the team is hoping the property will be move-in ready by the fourth quarter of 2023.
Many ongoing Rio Nuevo projects in downtown and surrounding areas are breathing life back into the district, like the new Leo Kent Hotel located in the One South Church building, 18 unique restaurants and other incredible developments.