Maricopa County Approves $3B 2021 Budget
Source: Maricopa County Maricopa County is putting hundreds of millions of dollars in federal funds to immediate use helping people impacted by the COVID-19 pandemic while also pulling back on discretionary spending unrelated to the crisis. It’s a one-two effort to best serve taxpayers during a time of national emergency. The Board of Supervisors approved a tentative $3.071B budget for fiscal year 2021. The bulk of spending is focused on core statutory responsibilities like public safety, with an increased amount dedicated […]
Arizona Projects 05-22-20
Groundbreakings 1. To make way for improvements to State Route 189 (Mariposa Road) in Nogales, the 3.75-mile road that connects the international border with Interstate 19, crews have been clearing brush from the path of the first of two flyover ramps that will connect northbound SR 189 with northbound I-19. Construction on ADOT’s $134M project began this week. The improvements […]
Single-Family for Rent Project Proposed for Phoenix
By Tasha Anderson for AZBEX Real estate developer, The Empire Group of Companies submitted plans to the City of Phoenix for a new single-family for rent development to be located at the NWC of Camelback Road and Ball Park Boulevard. Empire is requesting to rezone approximately 18.02 acres from Suburban S-1 District – Ranch or Farm Residence, Special […]
COVID-19 News Round-up for May 19
Policy & Stimulus News Cities, Counties Pushing for More Funds Arizona cities and counties are pressing for more funding at both the state and federal levels as they deal with coronavirus outbreak. Local officials from across the state are pushing Gov. Doug Ducey to send them a portion of more than $1.9B in federal coronavirus relief funds. Mayors from cities around the state […]
TSMC to Build Semiconductor Plant in Phoenix
Source: Arizona Commerce Authority Governor Doug Ducey has announced that following a national search, Taiwan Semiconductor Manufacturing Company has selected Arizona for its new U.S. advanced semiconductor factory. The project will create more than 1,600 new high-tech jobs and generate thousands of additional jobs in the state for suppliers and other companies within the semiconductor industry. TSMC’s total spending on this project, including capital expenditure, […]
Tempe Planning $349M in Bond Requests
By Paulina Pineda for The Arizona Republic Tempe likely will ask voters to approve a $349M bond issue to pay for dozens of capital projects in the next five years, ranging from road improvements to park upgrades. The city weighed asking voters for about half the proposed bond amount — $174M— to help pay for projects planned in […]
Industry Professionals 05-19-20
Giving Back 1. Harvard Investments, developer of Cadence at Gateway, recently thanked Dignity Health Arizona General Hospital Mesa healthcare heroes by delivering fresh meals from two local favorite Mesa restaurants, Handlebar Diner and Native Grill & Wings. 2. Director of Marketing, PR & Administration with SVN Desert Commercial Advisors, Melissa Swader has recently launched a national Facebook group called Women in Commercial Real Estate, to […]
Commercial Real Estate Transactions 05-19-20
Sales Transactions 1. NAI Horizon’s Lane Neville and Logan Crum negotiated a sale of the Corbins Electric corporate headquarters, a 52.7KSF industrial building at 4829 S. 38th Street, Phoenix, for $7M. NAI Horizon represented the buyer, Staffield Family, LLC. The seller, ML Commercial Properties, was represented by Clint Hardison and Blake Hardison with Keyser. 2. Marana Unified School District purchased the property […]
Virtual Workspace Presents New Challenges
By Rebekah Morris for AZBEX Transferring business development and interview skills from predominantly face-to-face to entirely virtual has presented the market with new challenges. At the Virtual Leading Market Series on May 13th, 2020, Rebekah Morris, Founder and President of BEX discussed the topic with a panel of industry leaders to see how they are handling this very abrupt and impactful switch. Panelists included Russ Sanders, Principal, SmithGroup, Wendy Springborn, Engineering Services […]
COVID-19 News Round-up for May 15
Policy & Stimulus News Work Ongoing to Resolve Trump, Congress Relief Divide President Donald Trump and congressional leaders have pitched a number of proposals they argue are essential to a new coronavirus relief plan to combat the effects of the pandemic. The result: A grab bag of ideas without a deal. Discussions are ongoing between the two sides. (Source: AZCentral) Economic News GPEC Shifts Focus to Navigate Downturn […]