Places at Tucson

Tucson, Arizona

The Places at Tucson is one of Fast Track Capital’s most unique investments to date – the simultaneous development of two multi-family properties in the Tucson marketplace. Despite tremendous economic growth and increases in population, Tucson has had very little development in the last 8 years and the demand for new construction is high. Ross McCallister, one of the founding partners of MC Companies and a development specialist, has been developing in Tucson since 1985 and has identified two projects that we feel will offer investors significant value.

The Place at Creekside is a 22 building, 352 unit garden-style development located minutes away from Saguaro National Park and is located near major transportation routes. Minutes away from major arterials, employment centers and along Tucson’s north-eastern growth path, the development boasts over 31 acres and is flanked by the Catalina Mountains. The gated community will feature access to nature trails, covered parking and a heated pool and spa.

The Place at Canyon Ridge is a 10 building, 116 unit garden-style development in the eastern growth path of Tucson. The property is located minutes from the University of Arizona, Pima College and a short distance to downtown Tucson. Similar to The Place at Creekside, unit features include 9 foot ceilings, private balconies, designer cabinets, walk-in closets and washers and dryers in every unit.

Arizona is currently the second fastest growing state in the U.S and is home to an impressive technological sector, which includes businesses such as IBM, Raytheon, Texas Instruments and Bombardier. Tucson is home to over 1 million residents, grows by approximately 2,000 new residents per month, drawing over 3.5 million visitors and $2 billion in tourism revenue annually. With occupancy rates over 93% the last 4 years, the demand for new multi-family construction is high.

The business plan involves building and holding both developments as long term investments, providing regular cash flow distributions to investors and equity appreciation, which will be returned through a re-finance or sale of the property.

Our strategic partner in this investment is MC Companies. Founded by Ken McElroy and Ross McCallister, MC Companies has developed or acquired over $350 million in multi-family properties, totalling over 4,000 units. Ken and Ross have over 50 years of combined multi-family real estate experience, they are real estate advisors to Robert Kiyosaki and the Rich Dad organization, both have written best selling real estate guides and they are considered to be among the best property managers in the United States. For more information on MC Companies please visit www.mccompanies.com.

 
 

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