Union on Sixth Brings 165 market rate apartments and 7,000 SF additional commercial / retail space to 4th Avenue
TUCSON, ARIZONA – GEdR Union on 6th, LLC recently closed on an assemblage of 1.4 acres at the southwest corner of Sixth Street and Fourth Avenue in Tucson for $5.5 Million ($89.63 PSF) for land value.
The project has been in planning for several years an delayed with concerns over the changes in appearance that it would happen to uniique 4th Avenue.
Discussions between stakeholders over this infill project has finally resulted in approval of the Historic Preservation Zones where it will sit and the Individual Parking Plan (IPP) approval.
Union on 6th will consist of two buildings. The one along Herbert Avenue will split the development into a 40,540-square-foot East Building and a 125,065-square-foot West Building.
The plan GEdR requested was for the transit-oriented development including bicycle accommodations and public transportation is to have 209 parking spaces on the basement level and ground floor level of the western building in addition to on-street parking. The project is to house 165 multi-family market-rate apartment units and approximately 6,900-square-feet of retail/commercial space.
Union on Sixth will bring about 300 new residents to the area, living in the 165 market rate apartments. GEdR is hoping to market the apartments to young professionals, empty nesters and graduate students looking to live around 4th Avenue. The final plan shows that 65 percent of the units will be studio, one-bedroom or two-bedroom units with the other 58 units are 3-bedrooms.
In regards to the multiple retail/commercial units, 6,900-square-feet worth, The 4th Avenue Merchants Association has been working with GEdR to make sure that only local tenants will occupy these ground floor units.
One point of misconception concerning this project from the beginning seems to have been the height of the project. It has always been presented as “The 7-story development replacing The Flycatcher on 4th Avenue.” In reality, the portion of the building fronting 4th Avenue will be 2 and 3 stories in height. While the eastern building does eventually step up to 5 stories, it is set back from 4th Avenue and 6th Street by at least 50 feet. Building #1, the western building, does sit at 7 stories, although it steps down to 2 stories (25 feet) where it fronts 6th Street and is separated from 4th Avenue by more than 200 feet and Herbert Avenue.
Tony Reed with Long Realty in Tucson represented the buyer, GEdR Union on 6th, LLC. Phil Lipman with Bright Properties of Tucson represented the sellers, Four Emeralds / Flycatcher at 340 East 6th Street and Honeybadger Happenings, LLC and Tigre Properties I, LLC at 422 and 424 North 5th Avenue and 316 East 6th Street.
For more information, Reed should be reached at 520.918.5189 and Lipman can be contacted at 520.906.7215.