Capstone Collegiate to Build U of A Student Housing
Capstone Collegiate Communities has assembled enough land in the West University neighborhood of Tucson to build a 144-unit/448-bed student housing project. Capstone successfully secured approximately 1.5 acres at the southwest corner of Speedway and Euclid. It closed on nine parcels from five sellers for over $10 million. Five historic bungalows on the site will survive and be moved a few blocks away in the West University neighborhood. The properties are less than a mile from the University of Arizona.
The new buildings will be four- and seven-story structures they hope to begin construction by August 2024 for an August 2027 delivery.
Scott Soelter and Jayme Fabe with NAI Horizon represented four sellers with seven parcels, and Roger Breckenridge with Long Realty represented a fifth seller with two parcels.
John Ash, with CBRE (Tucson), and Bert Kempfert, formerly with CBRE (Phoenix), were contracted to represent the Alabama-based Capstone Collegiate Communities in the assemblage and acquisition of the parcels.
