Gone are the days of simply installing a few basketball hoops in a public park. With fierce competition to attract and retain family-oriented residents, communities understand the need to offer more. Tucson is rising to this challenge with its latest development project.
The Mosaic Quarter, a $425 million sports and entertainment district, broke ground recently with developers and town officials in attendance. This privately funded complex will feature an impressive 175,000-square-foot ice rink, as well as a 131,000-square-foot field house and numerous outdoor fields.
To make this project possible, the developers have agreed to pay Pima County $27 million for the ground lease and cover all construction costs themselves. Leading this ambitious endeavor are Mosaic Quarter Development and Knott Development. In return for their investment into Kino Parkway’s prime location near I-10 highway interchange,Pima County expects to receive approximately $675 million from cash flow generated by the new center.
