The last available lot on the coveted Park Avenue strip south of Speedway is getting a new student housing tower.
Chicago-based Core Spaces, developers of four Hub towers near the University of Arizona, are working on a fifth.
Developer Core Spaces is building the fifth Hub student housing complex in Tucson on Park Avenue, south of Speedway.
Located on Park Avenue and First Street, the 10-story building will have 161 units with 648 beds.
“Tucson has always been an attractive market to us,” said Brendan Miller, chief investment officer of student housing at Core Spaces. “We developed one of our first properties here 10 years ago, and we’ve continued to identify opportunities that allow us to bring our next-level living experiences to U of A students.”
He said their other communities are at or near 100% leased and pre-leased for the fall semester.
With few empty lots adjacent to campus left, Core Spaces is actively seeking new development sites and opportunities to acquire existing apartment complexes near campuses around the UA and across the country, Miller said.
Amenities at Hub Tucson First, that is being developed with partners Up Campus and Harrison Street, will include a rooftop swimming pool, hot tub and built-in grill station, as well as underground parking.
Construction is underway and the complex is expected to open for the 2025-2026 school year.
Construction is underway on a new student housing complex, expected to open for the 2025-2026 school year.
Prices will be determined based on market conditions when the complex opens.
Existing Hub rooms rent for between $1,200 and $1,900 per bedroom.
One amenity no longer allowed in group dwelling developments is balconies, following incidents of residents dropping trash from balconies onto the Islamic Center property at 901 E. First St.
The city banned balconies in 2016 within the Main Gate District, bounded by Speedway and Sixth Street to the north and south and Park and Euclid avenues to the east and west.
Student housing in Tucson was originally built away from campus due to height restrictions in the city’s center.
Since the city changed the height restrictions around campus, several towers have been erected near campus.
There are close to 10 towers now in the Main Gate District and some of the outlying projects have been renovated into market-rate apartments as students choose to live closer to campus.
With the Park Avenue strip, between Speedway and Sixth Street, being full, development has shifted to Euclid Avenue.
South of Speedway, Capstone Communities is building a six-story complex with 150 units and 450 bedrooms for rent.
The Alabama-based company worked with the West University Neighborhood Association to relocate five historic homes at the site and add sidewalks and ADA ramps that lead to Catalina Park, in the neighborhood.
Capstone is also adding workforce housing to the corner of Euclid Avenue and Speedway as a buffer between the student complex and West University Neighborhood Association neighbors.
To learn more about the Hub Tucson First complex, visit hubtucsonfirst.com.
The University of Arizona once had a live "Wildcat" mascot; however, the current mascot ─ with a few changes that include wife, Wilma, along the way ─ Wilbur the Wildcat has been a favorite around Tucson for more than 60 years.
