Although not ready to take reservations, Tucson’s newest downtown hotel is one step closer to existence.
Site grading permits have been issued and a mandatory archeological study is underway on the northwest corner of Broadway and Fifth Avenue.
The site is being cleared of asphalt, developer Scott Stiteler said. The old law office on the property was vacated May 27 and will be demolished in the next few weeks.
He said the preliminary work should take six to eight weeks.
“We want to under-promise,” Stiteler said of himself and partners Rudy Dabdoub and Paul Chellgren. “We don’t want to disappoint anyone with my projects.”
He hopes to be pouring concrete in September and be open for business by the end of 2016.
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The eight-story AC Hotel by Marriott will have 137 rooms and is valued at $32 million, commercial permit reports show.
The boutique hotel brand was bought by Marriott about five years ago.
Tucson will be the second Arizona site for the brand. There is one in Tempe.
The project received unanimous support last year from the City Council, which approved tax incentive packages.
In addition to $6.7 million in tax breaks over eight years, the hotel project will get an $8 million loan from the city’s Community Development Loan fund.
The development qualified for the incentives because of its impact on the economy, city officials said.
The hotel expects to generate $17.9 million in revenue in that eight-year period.
