Lariat Village Propco LP Acquires South Tucson Site for Lariat Village 120-Unit Planned Multifamily Development

Lariat Village

TUCSON, AZ (November 6, 2025) — A 4.73-acre C-2 zoned commercial parcel at 860 E. Irvington Road, near the southwest corner of Park Avenue and Irvington Road in Tucson’s South submarket, has sold to Lariat Village Propco LP, an affiliate of Atlanta-based Lariat Village GP LLC, for $1,866,474 ($9.06 PSF). The transaction closed on October 29, 2025.

Jason Wong of Crestline represented the seller, Park & Irvington Holding Co, LLC, managed by Thomas F. Gee of Tucson. The buyer was represented by Impact Residential Development, which is leading pre-development efforts for the new Lariat Village, a 120-unit multifamily affordable community planned for the site.

The C-2 General Commercial property, adjacent in part to R-2 medium-density residential zoning, totals roughly 206,000 square feet of vacant land.

The proposed Lariat Village development has recently appeared in public filings with the City of Tucson’s Housing and Community Development Department, which has issued a Notice of No Significant Impact and an Intent to Request Release of Funds for parcel APN 140-20-001B. The notice confirms environmental clearance, paving the way for financing and construction approvals.

In June 2025, the Pima County Board of Supervisors approved $673,000 in gap funding toward the 120-unit affordable housing project, with Impact Residential Development listed as the developer of record. Public records indicate that the project will deliver a mix of one-, two-, and three-bedroom apartments designed to meet workforce housing needs in South Tucson.

The broader Irvington & Park corridor, which includes this parcel and several adjoining tracts, has been co-marketed with Crestline Properties in recent years. While no building permit has yet been issued for 860 E. Irvington Road, construction is expected to begin following completion of financing and design approvals. A project listing tied to Tofel Dent Construction, dated August 27, 2025, indicates early pre-construction coordination for the multifamily development.

The buyer also purchased the adjoining parcel #140-20-001D (2.41 acres) at a price not disclosed, and the number of units to be determined.

Once complete, Lariat Village will add much-needed affordable housing within a strategic infill location near major transit routes, employment centers, and retail amenities—marking another step forward for affordable housing investment along Tucson’s south-central corridor.

For more information, please contact Jason Wong at 520-603-1191.

Source: RED Comp #12171