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    Home » Local News » Tucson High-rise Slated for Auction, Possible Conversion
    Local News

    Tucson High-rise Slated for Auction, Possible Conversion

    BEX StaffBy BEX StaffApril 26, 2024No Comments1 Min Read
    Credit: Grace Trejo/Arizona Daily Star
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    The Pioneer Building, one of the first high-rise buildings in Tucson, will go to auction next month.

    The starting bid for the 11-story building, currently owned by Holualoa Companies, is $1.2M.

    The Pioneer Building, located at 100 N. Stone Ave., was constructed in 1929 as the Pioneer Hotel. It was later converted to office space and is currently approximately 50% occupied, according to auction documents.

    Auction Broker Ten-X is handling all the auction marketing and details.

    Because of multiple renovations, including restorations after a fire in 1970 and efforts to restore the dining room to its original state in 2017, the building does not have a historical designation. Buyers could be able to rezone the more than 100KSF building and approximately half-acre site for office, commercial or residential uses. A new owner could make changes “without concern of preserving architectural characteristics.”

    The auction is scheduled to run from May 14-16. (Source)

    apartments/condos Holualoa Companies multifamily office office conversion Pioneer Building Pioneer Hotel Private redevelopment retail rezoning Ten-X
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    Phoenix Construction Costs See 4.8% Q3 Annual Change

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    By Roland Murphy for AZBEX Construction costs and market fluctuations are combining to create a…

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