Site Secured for Massive UA Student Housing Project
Transwestern brokered the sale of 1815 E. Speedway Blvd. in Tucson, Arizona, a 2.5-acre site situated at the gateway to the University of Arizona campus. Transwestern Jim and Jack Fijan represented the seller, the owners of the Palm Shadows apartments, in the $25 million sale to Mortensen Development. The existing Palm Shadows apartment complex will be demolished to make way for the new building.
Mortensen intends to sell the property to the Collegiate Housing Foundation, which will collaborate with the University of Arizona to develop a new, state-of-the-art 19-story student dormitory on the site. The planned $250 million project will provide housing to over 1,200 students and will include a dining hall and amenities. Completion is expected in time for fall 2028 move-in.
This will be the first new dormitory built on the University of Arizona’s campus since 2019 and will support the school’s goal to house all freshmen on campus.
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout