Phoenix Suns Unveil Renderings of Reimagined Arena
By Brandon Brown for Phoenix Business Journal The Phoenix Suns on Thursday revealed the first images of how Talking Stick Resort Arena will look like after it gets an extensive facelift, at the price of $230M, over the next two years. The renderings focus on the upgrades for the fans, but behind all the glitz […]
Tempe Wants Feedback on Develop. Bonus Program
Source: City of Tempe Tempe is seeking input on a draft Development Bonus Program as part of the city’s Urban Core Master Plan process. A development bonus would provide the opportunity to add housing units or commercial office space in exchange for providing community benefits, such as affordable/workforce housing, sustainability elements, public improvements or amenities, […]
Construction Contractors Less Confident in Sept.
Source: Associated Builders and Contractors Leaders of the U.S. construction industry remained confident through September 2019 regarding near-term prospects for sales, staffing levels and profit margins, according to the Associated Builders and Contractors‘ Construction Confidence Index released. However, the level of optimism continues to dim. For the first time since January, fewer than 50 percent […]
Industry Professionals 11-26-19
Awards & Accolades 1. Donna Chiappini, Business Development for Speedie & Associates, was recognized with a Lifetime Achievement award at the Business Development Guild‘s second annual Business Development Symposium on November 5, 2019. Prior to joining Speedie & Associates, Donna had a background in vertical construction. Switching to a consulting engineering firm required a new […]
Commercial Real Estate Transactions 11-26-19
Sales Transactions 1. Wilshire Capital Partners purchased 3900 Camelback Center, a Class A, LEED Gold Certified office building located in the Camelback Corridor, for $54.5M. Newmark Knight Frank Co-Head, Kevin Shannon cooperated with Executive Managing Director CJ Osbrink to represent the developer, builder, owner and property manager, Ryan Companies, in the disposition of the 177.52KSF […]
PHX to Facilitate Develop. of Afford. Housing
By Tasha Anderson for AZBEX The City of Phoenix Housing Department has recently issued a solicitation to gauge developers’ interest in building and/or rehabilitating more affordable rental housing. The Call for Interest, approved by Phoenix City Council on November 6th, allows the Housing Department to “facilitate construction, acquisition, and/or rehabilitation of affordable rental housing by […]
$10M Grant Confirmed for Prescott Airport Terminal
By Cindy Barks for Daily Courier The long wait is over for the new Prescott Regional Airport terminal project. During a Prescott City Council study session Tuesday, November 19th, Mayor Greg Mengarelli announced that he had just received word that the airport terminal project had been confirmed for a $10M Federal Aviation Administration (FAA) grant. […]
Bullhead City Approves Agreement for Bridge
By Bill McMillen for Mohave Valley Daily News In perhaps the most historic meeting since incorporation 35 years ago, the Bullhead City Council on Tuesday took small steps that will affect the city’s future for years to come. The council approved an intergovernmental agreement with Clark County for construction of a bridge at the southern […]
Rio Nuevo Approves Bautista Investment
Source: Rio Nuevo The Rio Nuevo Board unanimously approved an investment in one of the biggest projects in the history of the District. The Bautista, a $72.5M, mixed-use development near West Cushing Street and South Linda Avenue, will include 16.5KSF of retail space, 253 residential units and a restaurant. The central plaza of the development […]
ABC’s Construction Backlog Indicator Slips in Sept.
Source: Associated Builders and Contractors Associated Builders and Contractors reported that its Construction Backlog Indicator fell to 8.9 months in September 2019, down 0.1 months or 0.8 percent from August 2019, when CBI stood at nine months. “Today’s backlog reading indicates that pre-existing trends will remain in place,” said ABC Chief Economist Anirban Basu. “In […]