The latest student housing development near the University of Arizona campus is on the rise, and historic homes that were moved to make way for the project are awaiting a makeover.
Construction of the student complex at 818 E. Speedway — more than 400 bedrooms in 150 units — will be the newest near-campus high-rise.
A separate complex with 30 workforce housing units will be built along North Euclid Avenue as a buffer between the students and residents of .
It was one of the compromises Alabama-based Capstone Communities made to the neighborhood, along with no balconies or rooftop swimming pool at the student complex.
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The latest student housing/workforce housing project is in the early stages under the other hi-rise projects already completed at the corner of East Speedway and North Euclid Avenue near the University of Arizona campus.
The developer negotiated with the neighborhood for more than five years before the city approved the project.
Rental prices are not yet set, but the workforce housing will be priced at 80 percent of median area income when complete, officials have said.
The new complexes are expected to be complete for the start of the 2027 school year.
Five historic homes that were on the corner where the project is being built were moved by developers into empty lots in the West University Neighborhood.
Capstone Communities is building a new student housing project on East Speedway and North Euclid Avenue. It will include a buffer of workforce housing apartments along Euclid.
Joel Ireland, a longtime resident, had an empty lot where homes now sit.
Ireland is in the process of fixing them up for use as rentals.
Some of the bungalows displaced by the latest housing project going up at the corner of East Speedway and North Euclid Avenue sit on stilts as they await renovations to become rental properties.
More than 10 student housing towers have been built in the area of East Speedway and North Park Avenue since the city amended its height restriction near campus in 2012. The height limit was raised from four stories to a maximum of 14 stories.
When that happened, empty lots and parking lots quickly became development sites for such complexes.
As the towers drew students close to campus, older student housing projects on the outskirts switched to traditional rentals. And that created more demand for housing adjacent to the university.
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