Planned 19-Story Dorm to House 1,200 Students, Dining Hall & Amenities
March 17, 2026
PHOENIX – Transwestern announces that it brokered the sale of 1815 E. Speedway Blvd. in Tucson, Arizona, a 2.5-acre site situated at the gateway to the University of Arizona campus. Transwestern Executive Managing Partner Jim Fijan and Director Jack Fijan represented the seller, Triple SSS, LLC and Palm Shadows, LLC, in the $25 million sale to Mortensen Development, Inc.
Mortensen intends to sell the property to the Collegiate Housing Foundation, which will collaborate with the University of Arizona to develop a new, state-of-the-art 19-story student dormitory on the site. The planned $250 million project will provide housing to over 1,200 students and will include a dining hall and amenities. Completion is expected in time for fall 2028 move-in.
According to Transwestern research, this will be the first new dormitory built on the University of Arizona’s campus since 2019 and will support the school’s goal to house all freshmen on campus. Demand for multifamily within one mile also remains strong, averaging over 90% occupancy in the past five years, with average asking rents climbing over 17% during the same period, reflecting a steady 3.2% annual growth rate.
“This was a strategic transaction by the seller, buyer, and University of Arizona that will fill a critical gap in the supply-constrained market with modern, operationally efficient student housing,” said Jim Fijan. “We’re proud to help facilitate an elevated living experience for the next generation of leaders.”
The site is transit- and pedestrian-friendly, located within walking distance of the Helen Warren Streetcar station and part of a network of major SunTran routes and designated bike lanes. The property borders the Arizona Health Sciences Center and Banner-University Medical Center. Nearby amenities include a variety of retail stores, restaurants, and hotels.
About Transwestern
Transwestern is a preeminent, vertically integrated commercial real estate firm dedicated to serving investors, partners and clients through expertise in investment, development, brokerage and property management. We own, lease and operate $57 billion1 in assets and have completed or commenced development on more than $9 billion of real estate projects since 2012. Our experience spans diverse property types, including logistics, multifamily, retail, mixed-use, healthcare, office, data centers, hotel, and life sciences. Across 33 offices nationwide, our team is united by a culture that cultivates agility, mutual trust and high performance. Learn more at transwestern.com.
1Includes the Transwestern organization and RIA AUM as of June 30, 2025.
Media Contact:
Jaime Luckey
(678) 521.3474
jaime@luckeycomms.com
twmediarelations@transwestern.com
