COVID-19 News Round-up for June 2
Policy & Stimulus News Tucson OKs $96M Crisis Funding Distribution Plan A plan to distribute $95.7M in federal CARES Act funding to help Tucson recover from the impact of COVID-19 has been approved by the city council. The plan includes $22M in community aid, $38M in funding for the continuity of city operations and services and $33M in reserves in anticipation of […]
Glendale Annexes 234 Acres for Park 303
Source: Independent Newsmedia Glendale annexed its largest property in two and a half years, adding a 234-acre property that is planned to bring 4MSF of industrial space to the city. The Park 303 property is spread over three parcels east of Loop 303 and on either side of Glendale Avenue. An economic study estimated the property will net $860K […]
Maricopa County Building Permits Up
Source: Maricopa County Planning and Development There’s not a lot of good economic news out there these days, but data from Maricopa County Planning and Development Department shows some encouraging signs for the nation’s fastest-growing county. Building permit submissions are up substantially year-over-year, with a greater percentage of these being completed online. Planning and Development reports 1,371 permit applications were submitted in April 2020 compared to 1,141 in April […]
Phoenix Ranks High for Solar Power
By Ellie Borst for Cronkite News Phoenix dipped slightly in a national ranking of solar power capacity, even as the total amount of power generated and the power per person increased from last year, according to a national report. The “Shining Cities” report by Environment America said Phoenix’s 272.4MW of solar capacity was fourth-highest in the nation last year, down one place […]
Industry Professionals 06-02-20
Giving Back 1. The Sundt Foundation donated $26K to two Southern Arizona nonprofits and $100K to aid five Valley nonprofits to address the increased need due to the COVID-19 pandemic. Community Food Bank of Southern Arizona and Interfaith Community Services both received $13K in aid relief. Matthew’s Crossing, Aster Empowered, Midwest Food Bank, Chrysalis and Community Alliance Against Family Abuse each received $20K in relief aid. Awards & Accolades 2. Terracon, an engineering […]
Commercial Real Estate Transactions 06-02-20
Sales Transactions 1. Valwood Mesquite LLC purchased Mesquite Corporate Center, a 79.5KSF, two-story, Class A office building at 14646 N. Kierland Boulevard, Scottsdale, for $19.471M. The Ron Schooler and Ken Elmer Team from Commercial Properties, Inc./CORFAC International’s Scottsdale office represented the buyer. 2. Marcus & Millichap announced the $12.85M sale of Ocotillo Apartments, a 173-unit apartment complex at 1780 W. Missouri […]
Chandler Tables Rezone for Assisted Living Project
By Tasha Anderson for AZBEX The City of Chandler has voted to continue a discussion to allow the development of a new long-term residential care facility to June. Assisted Living provider, Everlasting Community Services is requesting to rezone the 4.8-acre site at the NWC of Chandler Boulevard and Juniper Drive to an Amended Planned Area Development to allow for the facility. […]
COVID-19 News Round-up for May 29
Policy & Stimulus News Gov. Ducey Announces Nearly $600M in Local Relief Funds The Governor’s Office is providing nearly $600M in coronavirus relief and recovery dollars for local Arizona governments and nonprofits as part of a funding plan announced by Governor Doug Ducey. The plan includes $441M in direct, flexible funding to local cities, towns and counties that did […]
MUSD Looking at Potential 2020 Election Impacts
Source: inMaricopa.com Maricopa Unified School District wants to open its second high school in 2022. The district is contemplating the size and curriculum of the school, how much of the cost will remain after the School Facilities Board grant and the possibility of seeking a bond. The district’s last attempt at bond failed with voters. Meanwhile, the district is examining the […]
Multifamily Report Shows Sector’s Uncertainty
Source: ABI Multifamily ABI Multifamily has published its Q1 2020 Phoenix Multifamily Quarterly Report. And while the start of 2020 was strong, with rent growth, healthy occupancy rates, lower cost of living, and high renter demand all pointing to another extraordinary year, the future has yet to tell how the multifamily industry will be impacted by the COVID-19 global pandemic. With […]