Tucson’s 312-Unit Rental Project Fully Funded and Under Construction, Marking Major Development Milestone
Key Takeaways The 312-unit luxury multifamily project in Tucson is now fully funded and has begun construction, representing a major milestone for the area. Persistent threats, including completion delays, labor shortages, and fluctuating market conditions, could trigger cost overruns and challenge the project's profitability. For this development near Rita Ranch, any setback may increase the risk of vacant units and potential financial losses if not managed carefully. Challenges and Risks Ahead for Tucson’s Largest Rental Development The ambitious 312-unit rental project, nestled in the shadow of Mt. Lemmon, has officially secured all necessary funding and construction is underway . Financial stability hinges on flawless execution. Any misstep could result in significant cost overruns, diminished returns, and an influx of vacant units in the Tucson market. High Stakes for Tucson’s Largest Multifamily Projects Two of Tucson’s largest multifamily housing projects, Mason Ranch and ...