ADOT Seeks Input for DBE Goals
By BEX Staff for AZBEX The Arizona Department of Transportation has announced that it is seeking public input on its three-year Draft Disparity Study and overall Disadvantaged Business Enterprise (DBE) goals for FHWA, FTA and FAA-funded contracts. “ADOT is required to set a new overall annual goal for participation of DBEs in its federally-funded contracts,” according to the 2020 DBE Disparity Study website. “ADOT will submit a new three-year overall DBE […]
Arizona Projects 04-17-20
Groundbreakings 1. Sundt Construction, Inc., and its joint venture partner DPR Construction recently started tenant improvements at the Biomedical Sciences Partnership Building on the University of Arizona Biomedical Campus in Phoenix. The improvements, a $20M construction manager at-risk project, includes 48KSF of improvements on the third and fourth levels and a portion of level five, which will add a wet lab and administrative research spaces to support […]
UND Aerospace Plans Student Housing in Gilbert
By Tasha Anderson for AZBEX As the University of North Dakota (UND) Aerospace pilot program, in partnership with Chandler Gilbert Community College at Williams Gateway Airport, has experienced exponential growth, the need for more housing for their students has also grown, according to documents submitted to the Town of Gilbert. “International students do not drive cars and it is difficult to find adequate […]
COVID-19 News Round-up for April 14
Policy & Stimulus News Legislators’ Wish Lists for 4th Stimulus Bill As partisan bickering continues to plague discussions over a fourth round of stimulus and relief measures to offset fallout from the COVID-19 pandemic, Arizona legislators are making their wishes known in the halls of power and pushing their priorities. (Source: AZCentral) 1031 Exchange Deadlines Extended Requests from Commercial Real […]
Supervisors OK Fort Mohave Solar Project
By Dave Hawkins for Mohave Valley Daily News Elite Southwest Holdings will develop a solar project in Fort Mohave following separate actions at the April 6th Mohave County Board of Supervisors meeting. The board voted in support of rezoning and a general plan amendment required for the 32MW facility that will provide power for the Mohave Electric Cooperative. Applicant Brandon Butcher said about […]
Impacts on Budget, Lives Could be Dire
By Howard Fischer for Capitol Media Services via Arizona Daily Star The COVID-19 outbreak is going to blow a billion-dollar hole in state finances. And about 775 Arizonans will die by the end of May from the virus. Those predictions from the Joint Legislative Budget Committee as staffers said the decline in state revenues plus additional costs to the […]
Virus Crisis Kills Flagstaff Bond Considerations
By Adrian Skabelund for Arizona Daily Sun During their last work session, the majority on the Flagstaff City Council decided that given the current crisis and uncertainties that exist, it would not be prudent to move forward with any new municipal bonds. Flagstaff Mayor Coral Evans added that she believed, “At this particular time, we need to really focus […]
Industry Professionals 04-14-20
Giving Back 1. Doug Bondon and the team at Artisan Colour are stepping up their efforts in response to the current COVID-19 pandemic by making face shields. The first set of shields was donated to the Scottsdale fire and police departments. When the project is completed, an estimated 100 hours of manufacturing time will produce 1,200 to 1,400 face shields. 2. To bolster the […]
Commercial Real Estate Transactions 04-14-20
Sales Transactions 1. Button Capital Limited purchased Park Place at Fountain Hills, a 230-unit Class A multifamily community in Fountain Hills, for $63.5M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch structured the transaction on behalf of the seller, Real Capital Solutions. Rocco Mandala, Anthony Valenzuela, and Dominique Damerell of CBRE Debt & Structured Finance arranged the multifamily debt on behalf […]
Arizona Continues Push for More Hospital Beds
By Rebekah Morris for AZBEX The State of Arizona is continuing on with a push for expanded medical facilities, even as revised projections for COVID-19 infections and hospitalizations are trending down. The state is preparing for a worst-case scenario to ensure that any surge in demand for medical facilities can be met. In a press conference on Tuesday, April 7, 2020, Dr. Cara […]