Business View Magazine | August 2020

201 BUSINESS VIEW MAGAZINE AUGUST 2020 TUCSON, AR I ZONA Hospitality – building a dual-branded, limited- service hotel offering. We have other hotels slated for renovation, with demolition on one just started this summer. HSL is redeveloping what was formerly the Hotel Arizona; it’s been sitting dark and vacant in downtown for almost a decade. That’s an exciting opportunity. It flanks the convention center, as well, so it will be another walkable hotel space. This project will bear a Hyatt Regency flag and include a spa and wellness component. It’s a $41 million project with 296 rooms. Seeing that kind of investment still moving forward is a great sign for us. Tucson was on this trajectory and the pandemic has not really halted construction.” Other sectors in Tucson are also on the rise. “We’re seeing a resurgence of health care, as well,” Coffee adds. “Northwest Hospital has come into the market, recently, and we’ve seen major expansions at Banner Medical. So, with the research and programs at UA, I think that we’ll continue to see that sector grow. We’ve also tried to maximize the federal Opportunity Zone designations. We have quite a few census tracts that are eligible, and we’ve seen some developments, in particular, multi-family and hospitality projects that have taken root in some of our Opportunity Zone areas. There’s also the growth by Tucson International Airport. We are thrilled to be able to have room for expansion there, where aviation and aerospace companies locate in and around the airport. We have aggressive economic development strategies promoting that activity as well.” “We really are a place for entrepreneurs,” Coffee states in conclusion. “It’s because we’re a city that is authentic. We’re ripe with arts, culture and history, and we didn’t have to recreate it. It’s what Tucson has always been known for. All those things create a place that attracts, and it’s why we’ve seen this resurgence in our downtown area and throughout our city.” WWW.MERCADODISTRICT.COM