Market Conditions Driving Rise in Construction Costs
By Rebekah Morris for AZBEX The last two parts in the series on rising construction costs focused on labor and materials specifically. Beyond tracking the most direct inputs of increased cost of labor and materials is the nuanced and indirect cost increases. We’ll attempt to explore some of the market conditions also playing into this […]
5 Things to Do When Bid Prices Come in Over Budget
By Rebekah Morris for AZBEX This five-part series has touched on the specifics of why construction prices have been increasing so fast in the last 12-18 months. This piece summarizes a few options for solutions on how to handle a price that is significantly over the budget price. Understand the reasons for the overage. It’s […]
Industry Professionals 06-25-19
Giving Back 1. In an effort to support military service members, TDIndustries partnered with Operation Gratitude, a nonprofit group that provides care packages to deployed troops, new recruits and veterans. Across its seven locations in Texas and Arizona, TD donated 500 pounds of supplies and assembled 600 survival bracelets. The supplies include toiletries, batteries, snacks, […]
Commercial Real Estate Transactions 06-25-2019
Sales Transactions 1. Baron Properties has purchased the SanTan by Baron, a 315-unit garden-style apartment community in Gilbert for $67.85M. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE in Phoenix represented the seller, Pillar Communities & Private Portfolio Group. The community was originally named Pillar at SanTan. 2. Newmark Knight Frank (NKF) […]
199-unit Apt. Complex Planned for SDLE
By Tasha Anderson for AZBEX A mostly overlooked street in Old Town Scottsdale is proposed as the site for a new high-end multifamily residential development. Withey Morris PLC, on behalf of Denver-based developer The Morgan Group Inc., recently submitted plans to the City of Scottsdale for the development of an eight-story, 199-unit luxury apartment building […]
Arizona Projects 06-21-19
Groundbreakings 1. Virtua Partners has broken ground on a 90-unit entry-level apartment complex on a vacant lot at 1980 East Broadway Rd, Tempe. The apartment project will include 36 one-bedroom, 45 two-bedroom and 9 three-bedroom units along with parking and a fitness center, to be delivered in approximately 16 months. 2. Tower Capital has secured […]
The Rising Cost of Construction Materials
By Rebekah Morris for AZBEX Part 2 in a series on overall construction cost increases In early June, more than 100 A/E/C professionals gathered at Sky Song to hear a large roundtable discussion about Rising Construction Costs put on by BEX. Moderator and BEX President and Founder, Rebekah Morris guided the discussion between three types […]
AZ Const. Industry Would Employ 100K Tradespeople
By Rebekah Morris for AZBEX Part 3 – Deeper Dive – The Rising Cost of Construction Labor & What we’re doing to fill pipeline. Construction could employ another 100,000 individuals in Arizona if the industry were able to find ready, willing and able workers. That estimate of the shortage of construction labor is provided by […]
Industry Professionals 06-18-19
Giving Back 1. Rosendin sponsored Austin’s first Construction Camp For Girls, created by the Austin Chapter of the National Association of Women in Construction, from June 10th – 14th. The week-long camp gave 13 girls heading into 7th, 8th and 9th grades opportunities for hands-on learning and new experiences in an industry most young girls […]
Commercial Real Estate Transactions 06-18-2019
Sales Transactions 1. MG Properties Group recently paid $73.7M for the 379-unit Elevate at Discovery Park apartment complex at 1820 E. Bell De Mar Dr., Tempe. 2. Baron Properties purchased the Pillar at SanTan, a 315-unit garden-style apartment community in Gilbert, for $67.85M. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE in […]