Sun Link is the Tucson streetcar. Public descriptions of the line put it between downtown and the University of Arizona, through the Fourth Avenue and Main Gate area. A lender uses that as a location fact for retail, a small office, or apartments that rent because of the campus connection. It is not a ridership study we are publishing, and it does not make a building agency debt. Rio Nuevo is the downtown revitalization district associated with tax-increment financing. Whether a parcel sits inside the district, and what that means for a ground lease or a public-private structure, is a question for the district and for counsel. We do not give tax advice and we do not claim a Rio Nuevo subsidy as part of a loan this desk arranged.
The city hub is Tucson. Office downtown, when the collateral is an office building rather than a mixed streetfront, is Tucson office. A ground-up build, including credit-tenant structures, is Tucson construction, not a permanent downtown refinance. California buyers looking at Tucson as a market, rather than at the streetcar corridor specifically, have a separate page.
Life company, bank, or CMBS are the usual permanent sources for a leased downtown building. Bridge fits a renovation that the streetcar location has not yet filled. Multifamily that is truly apartments can be agency, placed with an approved lender. We are not a Fannie Mae DUS lender. A storefront with one apartment upstairs is not automatically a Fannie Mae loan.
What to send for a streetcar-corridor building
Send the address, say whether it is inside the Rio Nuevo boundary if you know, and describe the income: retail, office, apartments, or a mix. If a public ground lease or a district agreement exists, attach it. Those documents change the collateral more than the streetcar stop does.
Student-driven retail near Main Gate and an office user nearer the convention core do not share a tenant. Do not average them into one downtown cap rate. We will not publish a downtown Tucson cap rate at all.
The apartment card is not a streetcar loan
The published Tucson closing is value-add multifamily with a life-company source. It is not identified as downtown, and it is not reproduced here as Rio Nuevo proof. Pima County apartments stay on the Tucson pages that already carry that card.
There is no downtown Tucson tombstone on this site.
Sources for a downtown Tucson address
| Source | When it fits |
|---|---|
| Life company | A leased downtown building with income that is already in place. |
| Bank | A smaller streetfront or owner-user building in the district. |
| Bridge | Renovation along the line before the new income is bankable. |
| Tucson office | When the collateral is office rather than a mixed streetfront. |