A major $45 million redevelopment project in Downtown Tucson will save the historic Marist College and demolish two other buildings to make way for the new Cathedral Square.

With a vote of 7-0, Tucson Mayor and Council approved the demolition of Parish Hall which sits just to the north of Saint Augustine Cathedral, and is 100-years-old. The Catholic Diocese of Tucson owns the building and uses the space for offices and banquets, but the old hall is almost not usable any more.

The plan approved is to replace the historic Parish Hall building on West Ochoa Street with a four-story building, including a banquet hall and offices.

The Mayor and Council also approved demolishing the two-story Bishop Moreno Pastoral Center offices at 111 S Church, at the southeast corner of West Broadway and South Church Avenue, to make way for a seven-story low-income senior apartments building, having a project cost of $24.5 million.

The diocese sold 111 S Church Avenue to FSL Padre Kino Village, LP for $2.5 million ($115 PSF) recently for construction of a 75-unit affordable senior housing building for those 62 years old and older in the seven-story structure.

Foundation for Senior Living (FSL) is the same group restoring the Marist College building at 64 West Ochoa Street that will house eight additional affordable housing units for a total of 83-units approved for affordable housing.

The Rio Nuevo Board recently approved a $350,000 investment in the senior housing project designed to help save the historic Marist College building and transform it which was key to bringing the project together.

“It gives us the points we need to give us a better chance of low-income housing tax credits,” said Stephen Hastings who works for Foundation for Senior Living (FSL).

Bishop Gerald Kicanas of the Roman Catholic Diocese of Tucson said there will be many meetings with city officials to finalize design plans for the new diocesan offices.

He said major private donors and a possible loan will pay for construction of the new diocese offices which could cost between $12 million and $17 million, depending on the final design.

Across the street, developers are in discussion for another apartment complex on the site of La Placita Village, at 110 S. Church Ave. at Broadway.

There is no timeline set yet for demolition and construction to begin.

To learn more, see RED Comp #3782.

Lee Lee’s Plaza at 1980-2080 West Orange Grove on the northeast corner of Orange Grove and La Cholla Blvd traded to California-based, Black Lion Investment Group (Robert Rivani, president) for $6.45 million ($87 PSF).

Located directly across from the Northwest Medical Center, it is  between the Foothills Mall to the north, Oracle to the east and the Sprouts anchored Marana Marketplace to the west.

Lee Lee International Supermarket anchors the center, one is the largest ethnic grocery stores in Arizona, and offers the widest variety of foods from Asia and around the world. Operating 3 locations in Chandler, Peoria and Tucson. It’s not your typical grocery store. Lee Lee carries products from more than 30 countries. It’s a place where both families craving food from home and chefs of global cuisine seeking authentic ingredients can find what they are seeking.

Other tenants include such name brands as Subway, Farmer’ s Insurance, Domino’ s, Goodwill, Curves and Checkmate.

The investor, Black Lion Investment Group, is a privately held commercial retail real estate investment and management firm based in Los Angeles, that oversees approximately 1 million-square-feet of retail space through the United States. This is the company’s first venture in Arizona.

Built in 2001, the approximate 74,445-square-feet of buildings sits on approximately 8.53 acres that wraps the Valero convenience store/gas station at the hard corner. It also has 2 marquee signs, and is well parked with multiple points of access.

The property was lender operated when it sold in this short sale. Bruce Romano, John Yarborough and David Carroll with Romano Real Estate of Tucson managed and handled the transaction for the lender, Transwest Partners, LLC (Michael Hanson, manager) of Tucson.

While in escrow, 1,750-square-feet was leased bringing the property to 94% occupancy at closing.

Yarborough and Carroll have been retained by the new owners to manage and lease the property.

For additional information, Romano, Yarborough and Carroll should be reached at 520.577.1000.

To learn more, see RED Comp #3948.

Green Valley Development Group, LLC (David Long, member) has assembled 4-acres at the northeast corner of I-19 and Esperanza in Green Valley Arizona for $1.8 million ($10 PSF) in two separate transactions for construction of a 21,702-square-foot Tractor Supply Company store. Also earmarked will be a 15,000-square-foot fenced outdoor display area, about 80 parking spaces and a loading area.

The Green Valley store will employ 12 to 17 part and full-time staff. The project was approved by Pima County development in December, and design plans, by Green Valley Council’s Planning & Architecture Committee in February. Tractor Supply Company has approximately 25 stores in Arizona including two in the Tucson area, one in Marana and another in Catalina with more than 1,500 stores in 49 states nationally.

Tractor Supply Company targets ranchers, homeowners, do-it-yourselfers, contractors and trades workers, with its inventory that includes tractor/trailer parts and accessories.

The Green Valley area is attractive due to the part-time and hobby farmers, and horse owners, the Green Valley News reported. Merchandise also includes lawn/garden, home maintenance and pet supplies, sprinkler/irrigation parts, power tools, outerwear, fencing, welding, pump supplies and mowers.

A grand opening celebration is slated for Sept. 24 in Green Valley.

Long represented and negotiated for the buyer in the assemblage / purchase.

Michael Stilb with M.A.S. Real Estate Services represented the selling entity for 1.15 acres and Tom Coury with Great American Financial represented a California investor in the sale of the other 2.93 acre parcel.

For additional information, Long can be reached at 602-574-0731, Stilb can be reached at 520.888.5127 and Coury is at 480.797.4893.

To learn more, see RED Comp #3804 and #3805.

In a separate transaction, an affiliate of Long Development Corporation, Queen Creek Development Group, LLC (David Long, member) closed on approximately 3.9 acres northwest of Ellsworth and Riggs Roads in Queen Creek, Arizona for $1.059 million ($6.10 PSF). The site is also under construction for a Tractor Supply Company store, with a nearly identical foot print as in Green Valley.

The Queen Creek store opening is slated for Q4 2016.

Kevin Petersen of Petersen Properties & Management in Queen Creek represented the seller on the transaction and Long negotiated for the buyer.

For additional information, Petersen can be contacted at 602.540.8151 and Long should be reached at 602 574-0731.