Rio Nuevo board approves analysis for new project, funds for Hotel Congress expansion
TUCSON, Ariz. (KOLD News 13) - The Rio Nuevo District board of directors voted unanimously to begin an economic analysis on a project that would increase retail and living space in the heart of downtown Tucson.
The board’s decision — made during a virtual meeting Tuesday, March 16, 2021 — paves the way for Utah-based real estate developer Cruachan Capital to start planning its conversion of 60 units to more than 250 apartments geared toward “young professionals” and increase retail space along Congress Street, according to a news release from the district.
Board leaders also approved $300,000 to help fund Hotel Congress’ expansion plans, the release stated, which includes a new daytime tasting room and bistro in the hotel’s Copper Hall, as well as improvements to the hotel’s plaza area to better suit outdoor music and eating.
The district will give five $10,000 stipends to local businesses across downtown to support what the city of Tucson calls “parklets,” which are outdoor seating areas in parallel parking spots outside the restaurants, according to the release.
For more information about the district’s projects, click here.
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