November 22, 2024 4:02 pm
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Rio Nuevo deal to bring millions into existing downtown Tucson businesses

Rendering credit: Real Estate Daily News

By Joe Ferguson | Arizona Daily Star

The AC Hotel Tucson Downtown is under construction at Fifth Avenue and East Broadway. Hotel developer Scott Stiteler also will put $3.2 million into his downtown businesses.

Rio Nuevo and a developer have reached an agreement to bring another new Marriott-branded hotel as well as several million dollars worth of improvements into existing businesses in downtown Tucson.

The taxing district board voted last week to expand an existing deal with businessman Scott Stiteler and his business partners related to the new AC Hotel by Marriott on East Broadway and Fifth Avenue. The agreement includes an estimated $3.2 million in new investments by Stiteler into businesses and property he owns in the 200 block of East Congress Street.

Continued:

Rendering credit: Real Estate Daily News

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.