By Joe Ferguson | Arizona Daily Star
The owner of La Placita Village downtown is asking the city of Tucson for a tax break to help redevelop the property.
Demolition on the brightly colored buildings is scheduled for April, the property’s owner said.
City officials confirm HSL Properties recently applied for the city’s Proposed Revision to Government Property Lease Excise Tax incentive, paying the $5,000 application fee.
Omar Mireles, president of HSL Properties, says the 43-year-old property is an excellent candidate for the tax incentive, which requires the redevelopment to increase the property’s value by at least 100 percent.
Early plans call for a new six-story building with up to 230 apartments while still protecting three existing historic buildings in the iconic development at 110 S. Church Ave.
