It's the biggest re-development in two decades in the City of South Tucson.
The Spanish Trail Motel located at 305 E. Benson Highway and I-10 will be renovated.
The City of South Tucson says they hope this re-development will trigger more developments in the area.
Once an I-10 eyesore - The Spanish Trail Motel now has new owners with big plans.
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Kevin Volk and Morgan Abraham say they didn't know a lot about the City of South Tucson.
"It has a charm and a character that you don't find in places," says Volk about South Tucson.
The two owners quickly learned the beauty of this 1.2 square mile pueblo. Including the wonderful restaurants, history of the tile work murals and the cultural touches.
The property was purchased for $2.5 MIL and has potential especially because of it's prime location - between the Tucson Marketplace and retail developments on sixth.
The hotel has roughly 120 studio apartments and about 70 residents already living there.
"We have a great community of residents right now - but we can accommodate a number of new rooms and a number of new tenants once we get the units to that condition whether it's affordable housing which the community has a severe shortage of or veterans housing through those programs," says Volk.
While the building is in overall good condition - some interior units need renovation.
South Tucson City Manager, Sixto Molina, says this is exciting for the City.
We were pleased to be able to play a role in delivering the necessary environmental clearances for the transaction. we believe that the redevelopment of this property will serve as a trigger for additional development proposals for nearby properties.
"There's a lot happening in this area - it's a great I-10 location when you look at it from a real estate perspective it's an ideal location," says Volk.
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