AZBigMedia
Caliber –The Wealth Development Company, Rio Nuevo, The City of Tucson, Ryan Companies US, Inc., and the Barrio Viejo Neighborhood gathered today to break ground on the Tucson Convention Center Hotel: A DoubleTree by Hilton, located within an opportunity zone.
Opportunity Zones were added to the tax code in late 2017 and are designed to spur economic development by providing tax benefits to investors. Caliber, the developer, and Ryan Companies, the general contractor, are kicking off construction on their first opportunity zone project in Arizona, which will help support the demand for lodging while promoting continued growth in Downtown Tucson. According to the Arizona Office of Tourism, 6.5 million people visited Tucson and the greater Southern Arizona region in 2017.
“After many months of planning, Caliber is excited to break ground alongside our many great partners,” said Roy Bade, executive vice president of acquisitions and development, Caliber-The Wealth Development Company. “Swaim Architects and Within Studio Interior Design, have created a beautiful hotel that has grasped the history of Tucson and the Barrio neighborhood.”
