tucson multifamily construction pipeline q3 2019 · 2019-10-23 · 1 rendezvous urban flats 20...
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ABIMultifamily.com Tucson Office: 1650 North Kolb Road, Suite 230, Tucson, AZ 85715 Tel: 520.256.1945
T U C S O N M U L T I F A M I L Y C O N S T R U C T I O N P I P E L I N EQ 3 2 0 1 9
V i s i t o u r i n t e r a c t i v e c o n s t r u c t i o n p i p e l i n e a t : a b i m f . c o m / r e p o r t / t u c s o n - c o n s t r u c t i o n - p i p e l i n e
LANCE PARSONS, CCIM SENIOR VICE PRESIDENT
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RYAN KIPPES VICE PRESIDENT
DESIREE PALMERVICE PRESIDENT
ABIMultifamily.com Tucson Office: 1650 North Kolb Road, Suite 230, Tucson, AZ 85715 Tel: 520.256.1945 2
T O T A L U N I T I N V E N T O R Y
5 + U N I T P R O P E R T I E S : 8 5 , 7 5 5
5 0 + U N I T P R O P E R T I E S : 6 7 , 0 5 3
T U C S O N M U L T I F A M I L Y C O N S T R U C T I O N P I P E L I N EQ 3 2 0 1 9©
50+ UNIT PROPERTIES | Q3 2019 TRANSACTIONS BY YEAR BUILTAvg
Price/UnitAvg
Price/SF# of
Transactions
2010+ $187K $201 1
2000-09 - - - - - -
1990-99 $110K $160 2
1980-89 $105K $132 4
Pre-1980 $61K $90 3
5-49 UNIT PROPERTIES | Q3 2019 TRANSACTIONS BY YEAR BUILT
AvgPrice/Unit
AvgPrice/SF
# of Transactions
2010+ - - - - - -
2000-09 $223K $148 2
1990-99 $131K $131 2
1980-89 $64K $79 3
Pre-1980 $57K $80 23
ABIMultifamily.com Tucson Office: 1650 North Kolb Road, Suite 230, Tucson, AZ 85715 Tel: 520.256.1945 3
T U C S O N M U L T I F A M I L Y C O N S T R U C T I O N P I P E L I N EQ 3 2 0 1 9
Recently Completed(Q3 2019)
Total # of Units: 154
Total # of Properties: 1
Under ConstructionTotal # of Units: 1,156
Total # of Properties: 6
PlannedTotal # of Units: 969
Total # of Properties: 7
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TUCSON MSA CONSTRUCTION PIPELINE
SNAPSTATQ3 2019
ABIMultifamily.com Tucson Office: 1650 North Kolb Road, Suite 230, Tucson, AZ 85715 Tel: 520.256.1945 4
T U C S O N M U L T I F A M I L Y C O N S T R U C T I O N P I P E L I N EQ 3 2 0 1 9
R E C E N T L Y C O M P L E T E D ( 5 0 + U N I T P R O P E R T I E S )
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Property Name Address Units Completion Date Developer
1 Mark at Tucson, The 55 North Park Avenue 154 8/1/2019 Landmark Properties
RECENTLY COMPLETED (YTD) 444
Property Name Address Units Permit Date Developer
1 RendezVous Urban Flats 20 South Stone Avenue 100 2/1/2019 Karber Realty Advisors
2 Monier, The 160 South Avenida del Convento 122 3/19/2019 Gadsden Company, The
3 Aspire Tucson 950 North Tyndall Avenue 149 10/2/2017 Dinerstein Companies
4 Collective, The 930 East 2nd Street 238 6/4/2019 Core Spaces
5 Flin, The 110 South Church Avenue 243 6/27/2019 HSL Properties
6 Encantada at Continental Ranch 6101 West Arizona Pavilions Drive 304 12/12/2018 HSL Properties
TOTAL UNDER CONSTRUCTION 1,156
U N D E R C O N S T R U C T I O N ( 5 0 + U N I T P R O P E R T I E S )
ABIMultifamily.com Tucson Office: 1650 North Kolb Road, Suite 230, Tucson, AZ 85715 Tel: 520.256.1945 5
T U C S O N M U L T I F A M I L Y C O N S T R U C T I O N P I P E L I N EQ 3 2 0 1 9
Property Name Address Units Status Developer
1 Esperanza En Escalante Phase II 3700 South Calle Polar 50 Planned Gorman & Company
2 Trinity 400 East University Blvd 58 Planned R + R Develop
3 Alborada 2620 North Balboa Avenue 60 Planned La Frontera Center
4 Foothills Mall Redevelopment NWC West Ina Road & North La Cholla Blvd 100 Planned Bourn Companies
5 Hub IV 902 East Speedway Blvd 135 Planned Core Spaces
6 Union on Sixth, The North 5th Avenue & East 6th Street 254 Planned Greystar
7 Encantada at Rita Ranch 9300 East Valencia Road 312 Planned HSL Properties
TOTAL PLANNED 969
P L A N N E D ( 5 0 + U N I T P R O P E R T I E S )
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ABIMultifamily.com Tucson Office: 1650 North Kolb Road, Suite 230, Tucson, AZ 85715 Tel: 520.256.1945 6
1,269
955
1,372
605
708
57
848
141
199
329288
405
168
1,206
989
1,294
445
810
318
50
444*
0
250
500
750
1,000
1,250
1,500
20 Year Average: 645
T U C S O N M U L T I F A M I L Y C O N S T R U C T I O N P I P E L I N EQ 3 2 0 1 9©
T O T A L U N I T I N V E N T O R Y
5 + U N I T P R O P E R T I E S : 8 5 , 7 5 5
5 0 + U N I T P R O P E R T I E S : 6 7 , 0 5 3
P R E - L E A S E A B S O R P T I O N R A T E
1U n i t s / P r o p e r t y / M o n t h ( A v g )
* Project Units Delivered (YTD)Based on when total projectsare delivered, not as individualbuildings/units are delivered
ABIMultifamily.com Tucson Office: 1650 North Kolb Road, Suite 230, Tucson, AZ 85715 Tel: 520.256.1945
T U C S O N M U L T I F A M I L Y C O N S T R U C T I O N P I P E L I N EQ 3 2 0 1 9©
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LANCE PARSONS, CCIMSENIOR VICE PRESIDENT
RYAN KIPPESVICE PRESIDENT
TUCSON [email protected]
DESIREE PALMERVICE PRESIDENT
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