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Opus Helps Meet Demand for Multifamily Living in Downtown Tucson with Tucson Fourth Avenue Apartments
Opus has entered the Tucson, Ariz., market with a 323-unit multifamily development with 4,971 square feet of retail space at 213 North 4th Avenue.
The Tucson Fourth Avenue Apartments, a joint venture with Bridge Investment Group, serves as a gateway between downtown Tucson and the University of Arizona campus. Contributing to the economic vitality of the city, it will provide needed housing amidst growing demand for downtown living.
Given the historical, cultural and culinary significance of 4th Avenue, Opus collaborated with the Historic Fourth Avenue Coalition early in the planning process to identify community benefits. They include providing store fronts to encourage small business formation, creation of public parking spaces, support for local nonprofits and providing an outdoor water source. The apartments are located in one of the city's Qualified Opportunity Zones, which are designed to spur economic development.
The transit-oriented development is adjacent to the 4th Avenue/9th Street Sun Link Streetcar stop. Residents will have access to reduced-rate transit passes and will be within walking distance of shopping and dining destinations.
The building will be 13 stories and offer studios and one-, two-, three- and four-bedroom apartment layouts. The project sets a new standard for amenities in the market, including a third-floor deck with a resort-style pool and outdoor lounge spaces that overlook downtown. A three-level parking ramp has 229 spaces for residents, 32 retail parking spaces and bicycle parking spaces.
The project is scheduled for completion in June 2024.
The Tucson Fourth Avenue Apartments, a joint venture with Bridge Investment Group, serves as a gateway between downtown Tucson and the University of Arizona campus. Contributing to the economic vitality of the city, it will provide needed housing amidst growing demand for downtown living.
Given the historical, cultural and culinary significance of 4th Avenue, Opus collaborated with the Historic Fourth Avenue Coalition early in the planning process to identify community benefits. They include providing store fronts to encourage small business formation, creation of public parking spaces, support for local nonprofits and providing an outdoor water source. The apartments are located in one of the city's Qualified Opportunity Zones, which are designed to spur economic development.
The transit-oriented development is adjacent to the 4th Avenue/9th Street Sun Link Streetcar stop. Residents will have access to reduced-rate transit passes and will be within walking distance of shopping and dining destinations.
The building will be 13 stories and offer studios and one-, two-, three- and four-bedroom apartment layouts. The project sets a new standard for amenities in the market, including a third-floor deck with a resort-style pool and outdoor lounge spaces that overlook downtown. A three-level parking ramp has 229 spaces for residents, 32 retail parking spaces and bicycle parking spaces.
The project is scheduled for completion in June 2024.