Plaza Centro was the first ground up development in downtown Tucson in over 30 years. Urban Moment successfully worked with the City of Tucson to redesign a railroad underpass and the location of adjacent roads in order to create 2.5 acres of developable land at the Eastern gateway to Downtown Tucson. The project consisted of three specific phases.
Initially, we partnered with the City of Tucson to not only create the developable parcels but to build the 400-car Centro Parking Garage. The garage was designed and built to facilitate the future construction of student housing and retail. Upon completion of the garage, Urban Moment partnered with the University of Arizona and Capstone Development (experts in student housing projects) to complete the design and build the 450-bed student housing portion of the project. During construction of the student housing, we designed two 10,000 square foot retail centers to serve the project and the surrounding community.
The completed and fully stabilized project was sold in two phases for over $45M in 2015 and 2016.
- $45 million in value created
- First ground up development in Tucson in 30 years
- Negotiated with The City of Tucson to redesign traffic flow and build a parking garage
- Partnered with The University of Arizona and Capstone Development to build campus affiliated student housing