Hub Tucson First offers 648 beds (top) and rendering of the Theory Tucson to offer 1,064 beds near the University of Arizona campus in Tucson
TUCSON, AZ (May 22, 2025)—Core Spaces continues its strategic nationwide expansion by delivering multiple student housing communities near the University of Arizona. A separate major development led by Mortenson and PeakMade Real Estate is set to bring even more residential and student housing capacity to the Tucson market.
Core Spaces recently completed Hub Tucson Park Ave, the company’s fourth development near the University of Arizona, adding 478 beds and featuring a mix of national retail tenants. Located blocks away, the firm also delivered Hub Tucson First, a 648-bed student housing project offering 161 fully furnished units ranging from studios to six-bedroom floor plans. The community includes premium amenities such as a rooftop pool deck, wellness spa, group and private study areas, and a dog run. The project was developed in partnership with Findorff and Antunovich Associates.
Theory Tucson to Bring 1,064 Beds in 19-Story Mixed-Use Tower
In a separate development, PeakMade Real Estate is set to break ground on Theory Tucson, a 19-story, 686,000-square-foot mixed-use tower located at the northeast corner of Campbell Avenue and Speedway Boulevard. The project will include 395 units totaling 1,064 bedrooms in a variety of studio, one-, two-, three-, and four-bedroom configurations. It will serve both students and residents.
Theory Tucson will also include a retail component and a suite of shared amenities such as a resident lounge, coworking space, fitness area, and a rooftop swimming pool. The transit-oriented development will offer convenient access to the city’s streetcar line.
The development team includes M.A. Mortenson Co., Gensler, Power Design, Suntec Engineering, and Rick Engineering. The project is scheduled to be completed in fall 2027.
Redeveloping a Landmark Site
The project site was previously home to the Palm Shadows apartment complex and had long been slated for redevelopment. Initially approved by the Tucson City Council in 2018, the site was proposed as Speedway + Campbell Gateway, a visionary mixed-use project by the late Richard Shenkarow of Shenkarow Realty Advisors. That project aimed to create a significant gateway to the University of Arizona and downtown Tucson but was put on hold following Shenkarow’s passing.
With the launch of Theory Tucson, the redevelopment of this strategic location is back on track. Between Core Spaces and Mortenson-led initiatives, 2,190 new beds will be added to the University of Arizona housing market.