TUCSON, Arizona – Tuesday evening, the Tucson City Council approved the development of a 20-story mixed use tower at the northwest corner of Speedway and Campbell Avenue to be developed by Richard Shenkarow and partners. The building could be completed by 2022 at an estimated cost of about $300 million.
Palm Shadows and Babcock apartments, currently on the 2.5-acre site, will be razed.
Richard Shenkarow of Shenkarow Realty Advisors in Tucson is the project’s developer. His company, formed in 1999, has “built, renovated, and/or managed” properties including Casas Adobes Plaza and El Dorado Square. He explained that he purchased the Palm Shadows Apartments 20 years ago, “with the intent to make it into a gateway project” for Tucson and the University.
The development would include a major grocery store, offices, retail shops and a condominium-style mid-rise and high-rise residential component that could reach 250 feet in height. The design would “encourage the use of a variety of modes of transportation, including walking, bicycling, and the modern streetcar,” according to plans.
While parking spaces will be incorporated into the design, the project aims to discourage vehicle use. A streetcar stop on the north side, a bus stop on Speedway and bike-sharing stations as well as ride-sharing cars that could be borrowed for a few hours would be featured amenities.
Mayor Jonathan Rothschild said while the tall building is opposed by some residents, he has faith in the developer and architect on this project, who grew up in the Sam Hughes Neighborhood and now lives near the Arizona Inn.
To learn more go to https://www.speedwaycampbellgateway.com/