By Gabriela Rico | Tucson.com
Three major apartment projects announced in the past year near the University of Arizona have been canceled or postponed.
And for the first time in 10 years, no new student housing projects have been scheduled in Tucson.
A combination of increased construction costs, a drop in enrollment at the University of Arizona, and cooling rental prices are all contributing factors to developer hesitation.
Construction prices remain about 40% higher than in 2020, and skilled labor is in short supply.
Last year, UA’s enrollment of first-year students dropped by 19%, mostly due to declines in out-of-state and international students, for an overall 4% drop in total student enrollment.
