A group of local investors, PSSW Investments LLC (Michael Shiner, Ben Pozez and Don Semro, members) purchased 4 acres at the northwest and northeast corner of Blacklidge Drive and Tyndall Avenue in Central Tucson for development of 74-SFRs in a joint venture with Pepper Viner Homes. The 4 acres of vacant land commanded a sale price of $750,000 ($4.41 PSF).
Already zoned R-3 for high density housing, the infill project is to be developed in two phases, with 37 two-story, two-car garage homes per phase. There hasn’t been an infill project of this magnitude in Tucson for some time and plans are still tentative pending plat approval.
Attention to design details of infill development is essential to ensure that the new development fits the existing context and gains neighborhood acceptance, and the Five Time Southern Arizona Home Builder of the Year, Pepper Viner, has shown its ability to do that with energy efficient homes at affordable prices.
The project is located just off the U of A Mountain bike path, in the Amphitheater School District, and with access from several streets to help lower development costs.
Tony Reed and Jameson Gray of Long Realty in Tucson represented the seller, Stiteler Partners LLC of Phoenix (John Stiteler, manager). Michael Shiner is also with Diversified Equity Corporation of Tucson and represented the buying group.
“It will be a positive project for the neighborhood, nobody likes living near ugly vacant lots that has been passed over in the normal course of growth. New housing, with an affordable price point should be a welcomed addition to the area,” Shiner told us.
To learn more Gray can be reached at 520.490.2404 and Reed is at 520.403.2150. Shiner should be reached at 520.247.6436. See also RED Comp #2744 for additional information.