Tucson, AZ – (January 26, 2024) – Scottsdale-based Sterling Real Estate Partners has completed the first phase and is now leasing apartments at the award-winning 212-unit hotel-to-apartment conversion project in Downtown Tucson. Branded ‘Presidio Palms Apartments,’ the project was awarded the 2022 Common Ground award by the Metropolitan Pima Alliance.
The property is located in the El Presidio Neighborhood, where residents are within walking distance of the highest concentration of restaurants, bars, cafés, nightlife destinations, and entertainment venues Tucson offers.
Sterling acquired the 10-acre property in January of 2021 and has changed the zoning to convert an underperforming and functionally obsolete hotel to 212 apartment units and the future development of an additional 154 units.
“We are excited to showcase this award-winning project and provide a new housing option in downtown that is like none other,” said Sterling’s President David Zeff. “Residents will have Class A unit finishes and common area amenities that are unmatched in downtown with plenty of free parking at the most competitive rents in the downtown market.”
The units have a clean, mid-century modern design, with washers and dryers in every unit, large patios, and incredible views of downtown and ‘A’ Mountain. The Wi-Fi-enabled common area amenities include an oversized pool lined with lounges and seating, outdoor BBQ areas, a 2,500-square-foot high-end gym accessible 24 hours a day, and a 9,000-square-foot clubhouse with a business center, coffee bar, classic arcade games, and several resident seating areas.
The first units have been occupied and leasing will continue throughout the year. The property is located at 475 N Granada Ave, and information on the property and available apartment homes can be found on the property’s website www.presidiopalms.com.
There will be a public open house on Tuesday, February 13th , from 3:00 to 5:00pm, with a ribbon cutting ceremony at 3:00 pm.