The Rio Nuevo Board got exciting news at its regular board meeting when it learned that Caterpillar was nearly ready to open its new headquarters.
Phil Swaim of Swaim Associates reported that Sundt, the construction manager for the project, was near completion, despite recent weather delays.
“The building will be ready next week,” Swaim said. “Caterpillar seems to be very happy.”
In March, the company will begin moving about 400 employees from temporary work locations to the $50 million, 150,000-square-foot facility at Cushing Street and Avenida del Convento. Additional employees will arrive during the next year. Caterpillar’s Tucson Mining Center can accommodate more than 700 employees.
Swaim said that Sundt has done “a masterful job” with funds provided by Rio Nuevo to improve the property by doing landfill remediation, relocating sewer lines and providing Santa Cruz River bank protection. Even with that, he said, the project may come in under budget.
Swaim said lease payments to Rio Nuevo could start as early as April 1.
“Our entire community has a lot to be very proud of,” Swaim said.
Archaeological field reports for the 75 E. Broadway project are complete.
The reports have been shared with the Pima County Office of Sustainability and Conservation, and Rio Nuevo attorney Mark Collins said he was “rather confident” the reports will be approved. A determination on the reports could take about five days.
Once the approval is granted and a lease signed with developer J.E. Dunn, the company will have one year to begin construction on the 150,000-square-foot, 12-story project with two stories of retail, five parking levels with about 350 parking spaces, and five floors of office space.