Scottsdale-based Sterling Real Estate Partners has completed the first phase and is now leasing apartments at Downtown Tucson’s 212-unit hotel-to-apartment conversion project. Branded ‘Presidio Palms Apartments’, Sterling acquired the 10-acre property in January of 2021 and changed the zoning to convert an underperforming and functionally obsolete hotel to 212 apartment units and the future development of an additional 154 units.
The property is located in the El Presidio Neighborhood, where residents are within walking distance of the highest concentration of restaurants, bars, cafés, nightlife destinations, and entertainment venues Tucson offers.
Amenities include an oversized pool lined with lounges and seating, outdoor BBQ areas, a 2,500-square-foot high-end gym accessible 24 hours a day, and a 9,000-square-foot clubhouse with a business center, coffee bar, classic arcade games, and several resident seating areas.
The first units have been occupied and leasing will continue throughout the year.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.