City Scoop | Tucson
After 25% Rise, New Starts in Tucson Projected to Post Minimal Growth Next Year
City Grill
Shawn Blubaum
Tucson Regional Director
Sundt
“Tucson and the surrounding area have a number of projects in varying stages of development, however, broader economic conditions are injecting some uncertainty into the market,” Blubaum says.
While concerns about interest rates and the potential impact of tariffs seem to be common themes, those issues aren’t isolated to Southern Arizona, he notes.
“There are still several large-scale projects that are active and a number of potential future projects that should press forward once things stabilize,” he says. “Investment by private companies continues to be a positive trend in Tucson’s building market.”
Blubaum says Rio Nuevo—a tax increment finance, or TIF, district created in 1999 to help revitalize downtown Tucson—continues to be an economic driver in and around the downtown area.
“The new administration at the University of Arizona, led by President Suresh Garimella, has done excellent work to revitalize the university’s finances, which should lead to the reinvigoration of the building program on campus,” Blubaum adds.
