A 1960s hotel in downtown Tucson has been renovated into Presidio Palms Apartments , offering modern, low-cost housing while boosting the local economy. The renovation, completed after two years of construction, has converted the underutilized site into a vibrant residential community.
David Zeff, President of Sterling Real Estate Partners, oversaw the project. He saw potential in the site and aimed to convert it into a functional residential space. “The original vision was taking this really great 10-acre site in downtown that was underutilized and converting it,” Zeff said.
The new apartments not only provide cost-effective housing but have also contributed to Tucson’s economy by bringing in more residents. “Now there are 200 people living in downtown that weren’t here before,” Zeff said.
Lea Ann Scofield, a partner at Sterling Real Estate Partners, mentioned the affordability of the new apartments. “In downtown Tucson, the average rent for a one-bedroom apartment ranges between $1,700 and $1,900, which is quite high for many,” she said.