Grill of the city
Shawn Blubaum
Tucson Regional Director
healthy
“Tucson and the surrounding area have a number of projects in various stages of development, however, broader economic conditions are injecting some uncertainty into the market,” says Blubaum.
While concerns about interest rates and the potential impact of fees seem to be common themes, these issues are not isolated to southern Arizona, he notes.
“There are still several large-scale projects that are active and a number of potential future projects that should go ahead once things stabilize,” he says. “Investment from private companies continues to be a positive trend in the Tucson construction market.”
Blubaum says Rio Nuevo, a tax increment financing district, or TIF, created in 1999 to help revitalize downtown Tucson continues to be an economic engine in and around the downtown area.
“The new University of Arizona administration, led by President Suresh Garimella, has done an excellent job of revitalizing the university’s finances, which should lead to a reinvigorated construction program on campus,” adds Blubaum.
