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Tucson approves downtown deal, incentive with Rio Nuevo

The Rio Nuevo Multipurpose Facilities District’s $8 million upgrade of the Tucson Convention Center is scheduled to be complete by the end of 2014. Nor-Generations and Peach Properties HM, Inc. are competing to develop an 8.5-acre parcel east of I-10 in downtown Tucson at the site of the Greyhound bus station. /Rendering credit: rionuevo.org
The Rio Nuevo Multipurpose Facilities District’s $8 million upgrade of the Tucson Convention Center at the site of the Greyhound bus station. /Rendering credit: rionuevo.org

By Becky Pallack | Arizona Daily Star

The Tucson City Council gave the go-ahead to a major hotel project in downtown Tucson when it signed an agreement Thursday with Rio Nuevo and Nor-Generations.

The agreement lets Rio Nuevo take over as landlord of the temporary Greyhound bus station currently on the site of the proposed hotel development. That expedites the relocation of the station, allows Rio Nuevo to close on the sale of its part of the site to developer Nor-Generations, and allows the developer to move more quickly on construction.

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