As expected, following an Executive Session Tuesday, the Mayor and Tucson City Council announced the selection of Peach Properties to enter into negotiations with the City to develop a mixed-use project with transit on a 4.7-acre downtown site. The City-owned site currently is utilized as the Ronstadt Transit Center and two parking lots.
Ignoring many reasonable alternatives, the Peach Properties proposed project features a transit mall integrated with a mix of residential, retail, commercial, and public space uses. The concept includes an open-air public market located adjacent to a newly-built transit mall.
The Peach Properties team is led by local developer Ron Schwabe and includes several equity partners, including Scott Stiteler.
The final project components, phasing, and design review process will be determined through a development agreement to be negotiated between the City and Peach Properties; reviewed by the Federal Transit Administration, which has a financial interest in the site; and approved by Mayor and Council.