CMAR Sought for Tolleson High School Project
By Tasha Anderson for AZBEX The Tolleson Union High School District recently issued a Request for Qualifications for Construction Manager at Risk (CMAR) services in order to build a Performing Arts and Media Center and new Classroom building at its high school located at 9419 W. Van Buren Street. According to the RFQ, the $36.5M […]
COVID-19 News Round-up for November 24th
Budget, Policy & Stimulus News Opposition Mounts to New SBA PPP Questionnaire The Small Business Administration Paycheck Protection Loan forgiveness questionnaire has been revised to increase resistance from business and industry organizations. The questionnaire focuses on businesses’ good faith certifications as part of applying for loans of $2M or more. Opponents say the documentation requirements […]
Affordable Housing Grants Announced for AZ Projects
Home Matters® to Arizona, which is planning a $100M fund over two years to finance affordable housing projects in Arizona, announced its first award recipients that will receive a total of $1.2M. “Home Matters to Arizona is honored to fund these projects across Arizona, which will serve people experiencing homelessness, individuals living with mental illness, domestic violence survivors and […]
Arizona Construction Gained 2,400 Jobs in October
By Tasha Anderson for AZBEX Arizona’s seasonally adjusted unemployment rate increased to 8.0 percent in October 2020, from September 2020, according to the latest report published by the Arizona Office of Economic Opportunity. The national rate decreased to 6.9 percent from 7.9 percent in September. In October 2019, the state had a seasonally adjusted rate […]
Industry Professionals 11-24-20
Giving Back 1. Six volunteers from ABI Multifamily on November 14th joined Habitat for Humanity to work on a home renovation project for a deserving Mesa family. Awards & Accolades 2. AZ Business Magazine named Sherman Cawley, President and Founder of Cawley Architects, one of the Business Leaders to Watch in 2021. A native Arizonan, […]
Commercial Real Estate Transactions 11-24-20
Sales Transactions 1. An undisclosed buyer represented by Martin Cohan of Marcus and Millichap, Steve Gebing and Cliff David of IPA, purchased Riata, a 300-unit Class A multifamily community in Chandler for an undisclosed amount. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter, Matt Pesch, and Mark McFate of Phoenix Multifamily Institutional Properties represented the seller, […]
Gilbert’s Mercy Mixed-use Dev. Get’s Updated Plans
By Tasha Anderson for AZBEX Updated plans for a new mixed-use development to be located at the SEC of Val Vista Drive and Mercy Road were reviewed at the Town of Gilbert’s Planning Commission meeting on October 7th. Before the developer, Diversified Partners, purchased the vacant property from The Victoria Lund Foundation back in August 2020, The Mercy Val Vista Center was envisioned as a nine-building […]
COVID-19 News Round-up for November 20th
Economic News Good News in Affordable Housing A recent report from MRI Software offers some hope for the affordable housing sector. Rent payments last month reached past 80 percent year-over-year for the first time since June. Payments rose to 82 percent, while public housing collections dropped slightly to 94 percent, compared to 98 percent in September. Another cause for optimism […]
Board Approves Next Steps for Convention Center
The Rio Nuevo Board unanimously approved the next steps in its Tucson Convention Center revitalization project. These will advance more than $4.5M in continued information technology upgrades and meeting room additions. Outside lighting will also be upgraded to conform with Tucson’s Dark Sky Ordinance. (Source)
Arizona Projects 11-20-20
Groundbreakings 1. Westcore broke ground this month on a 720KSF, three-building industrial campus at 199th Avenue and Fairway Drive, Avondale. Westcore teamed with The Opus Group to serve as its development manager, as well as the design-build general contractor, and expects to complete the campus during the second quarter of next year. 2. It took two sessions to […]