Student housing site sets land-value record near UA campus

Aspire Tucson 1 & 2

By Karen Schutte | RED News 

After three years being under construction, Sterling University the developer of Aspire Student Housing, is back acquiring the adjoining Chase Bank site, 947 N Park Ave., at the southwest corner of Park and 1st Street, for second phase, or Aspire 2. The developer, an affiliate of Dinerstein Companies of Houston, paid $16.675 million ($470 PSF) to the seller, JPMorgan Chase Bank, for the site in Main Gate District within two blocks of the University of Arizona. This sets a new record high for land value previously set when Sterling and Dinerstein bought the first site for Aspire Tucson.

This is the buyer’s third student housing acquisition and development in Tucson. It also constructed and later sold Sterling University Villas at 2550 W Ironwood Hill in Tucson.


Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.