TUCSON Ariz. (May 5, 2025) — After five years of strategic planning and thoughtful stewardship, MC Companies has officially broken ground on The Place at Mason Ranch, a highly anticipated Class A multifamily development in Tucson, Arizona. A recognized leader in multifamily investment, development, construction, and management, MC Companies is launching construction at a time of sustained demand and favorable market dynamics—positioning Mason Ranch as a timely and impactful addition to the region’s housing supply.
Located at 2945 and 2965 North Bear Canyon Road in Tucson’s desirable Tanque Verde submarket, Mason Ranch will feature 312 luxury apartment homes on approximately 16.12 acres. The area has seen limited new multifamily development in recent years, with only one other project—totaling just 35 units—currently under construction within a five-mile radius. Residents of Mason Ranch will enjoy proximity to major retailers, restaurants, grocery stores, and outdoor destinations, including Mt. Lemmon Highway and nearby hiking, biking, and walking trails.
Conceived in 2021, when MC Companies paid $4.4 million for this land, Mason Ranch has long been MC Companies' strategic vision. The project reached a major milestone in late March with the closing of its construction loan, backed by lender Kennedy Wilson and preferred equity partner Marble Capital. MC Companies will retain majority ownership and lead development, construction, lease-up, and long-term property management.
“This marks a major milestone for MC Companies, our investors, and our valued partners,” said Ross McCallister, co-founder of MC Companies. “Over the past 25 years, we’ve developed and constructed 20 successful projects totaling more than 3,600 units across Arizona. Each one has delivered value and resilience, and Mason Ranch is poised to follow in that tradition.”
The 363,436-square-foot development is scheduled for full completion by May 2027, with initial move-ins anticipated by late 2026.
Reference: RED Comp #8617.