TUCSON, ARIZ. — Scottsdale-based Sterling Real Estate Partners has started construction of Presidio Palms Apartments, a hotel-to-apartment conversion project located at 475 N. Granada Ave. in downtown Tucson. The project’s first units are slated for delivery by summer 2023.
Sterling has been working on the project since January 2021 to change the zoning to allow residential use. The 10-acre property has been entitled and permitted to convert the underperforming and functionally obsolete hotel to a 212-unit apartment complex and allow for development of an additional 154 units.
Presidio Palms will offer a modern, market-rate, low-cost rent option in the downtown Tucson submarket. The community’s studio and one-bedroom units will offer new plumbing, electrical, HVAC units, outdoor patios, finished cabinets, quartz countertops, stainless steel appliances, flooring, washers/dryers and modern fixtures. Onsite amenities will include a full-service coffee bar with café seating, residential lounge, private business center, arcade nook, gym and yoga studio, resort-style pool, sand volleyball court, outdoor kitchen area and dog park.