TUCSON, Ariz. (KVOA) – The Tucson Unified School District Board is considering a significant sale agreement with Peach Properties HM, Inc., for the Morrow Education Center property. The proposed sale price is $3.3 million with the relocation of a cell tower or $3 million without it.
The board meeting on Oct. 14 will address this study/action item. The property, located at 1010 E Tenth Street, is set to be redeveloped into a retail/makerspace, aligning with the Sunshine Mile Overlay District.
A $100,000 escrow deposit is required within 30 days of opening escrow, becoming non-refundable after 195 days. The agreement includes a 345-day feasibility period for rezoning and site development plan approval, with a 2% brokerage fee to Peach Properties.
The Summers Financial Services Building may be redeveloped as a storage facility, pending rezoning. Retail development is proposed for the City property on the Broadway frontage.
This proposal involves a fiscal impact, utilizing the School Plant Fund (Revenue) as the budget source.