COVID-19 News Round-up for April 3rd
Budget & Stimulus News CARES Act Business Tax Incentives The historic $2T stimulus package known as the Coronavirus Aid, Relief, and Economic Security Act, aka The CARES Act, provides economic stimulus for the devastation resulting from the spread of COVID-19. Here are some of the Act’s business-related tax relief measures. (Source: Snell & Wilmer) EPA Enforcement Policy Review EPA announced a temporary […]
Office Bldgs Proposed for Kierland Blvd in Phoenix
By Tasha Anderson for AZBEX Plans to redevelop a 6.78-acre property at the SEC of Marilyn Road and Kierland Boulevard into a Class A office development with ground floor retail have recently been submitted to the City of Phoenix. The site is currently home to a 100KSF building with associated parking. Developer, Kierland Sky LLC is proposing to replace the building and […]
CRE, Construction Well-represented During Crisis
By Rodric Hurdle-Bradford for Bisnow Gov. Doug Ducey issued a statewide stay-at-home order Monday to stop the spread of the novel coronavirus, while naming essential businesses that can continue operations for now. CRE and construction are still on that essential services list, a status that remained intact after his executive order. “We worked closely with the governor’s office last week to submit […]
Spending Decline Indicates What’s to Come
Source: Associated Builders and Contractors National nonresidential construction spending fell 1.8 percent in February but is up 2.5 percent compared to the same time last year, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled $795.1B for the month. Private nonresidential spending declined 2 percent on a monthly basis and is down […]
Arizona Projects 04-03-20
Awards & Accolades 1. The American Society of Civil Engineers Phoenix Branch recognized outstanding projects at their March 11th luncheon. The $7.5M Pinal Valley Recharge and Recovery Facility in Coolidge received the Small Project of the Year award. The team consisted of Arizona Water Company, Carollo Engineers and Clear Creek Associates, and Hunter Contracting. The $17M Santiago Trail Nitrate Removal Facility, Booster Pump Station, and Water Storage Tank in […]
216-unit Multifamily Project Proposed for Phoenix
By Tasha Anderson for AZBEX Multifamily housing developer, Wood Partners recently submitted plans to the City of Phoenix Planning Department for a new five-story luxury multifamily development to be built just east of the NEC of 16th Street and Camelback Road. The project, called Alta Bluewater, is planned as a 216-unit “modern luxury” multifamily development composed of a mix of 146 one-bedroom […]
COVID-19 News Round-up for March 31st
Budget & Stimulus News Trump Signs $2T Stimulus Package President Donald Trump signed a $2T economic stimulus package just hours after it was rushed through the House Friday, clearing the way for aid to businesses, increased benefits for workers and direct payments to taxpayers. The bipartisan CARES Act passed the House on a voice vote, over the objections of some members, […]
Dropping Appeal Will Kill Southbridge Referendum
By Wayne Schutsky for Scottsdale Progress Southbridge Two developer Carter Unger has dropped plans to appeal a Maricopa County judge’s decision upholding the referendum to put the downtown Scottsdale development before voters. But it is still unlikely the issue will actually make it to the ballot in November as Unger has asked the City Council to repeal its initial approval […]
Governor Orders Hospitals to Expand Capacity
Source: Office of the Governor Doug Ducey Governor Doug Ducey has issued an Executive Order ensuring Arizona hospitals increase capacity to prepare for a potential influx of patients due to COVID-19. The order requires hospitals to increase the amount of hospital bed capacity in the state, take steps to optimize staffing levels and maximize critical resources. “Arizona is working day and night to […]
Industry Professionals 03-31-20
Giving Back 1. The Russ Lyon Charitable Foundation, a subsidiary of Russ Lyon Sotheby’s International Realty, will be donating $10K to nine food banks across Arizona in the wake of the coronavirus outbreak. 2. The CoreCivic Saguaro Correctional Center offers inmates a construction program where the inmates design and build a perfectly scaled dollhouse detailed exactly the way a human house would […]