Rio Bonita Mixed-Use Coming to Avondale
By Tasha Anderson for Arizona Builder’s Exchange A new mixed-use development planned for North Avondale is expected to shake things up by adding a multifamily and commercial element to an area comprised of mostly “homogenous, traditional single-family residences.” Avondale-Mirage Owner, LLC submitted a proposal to the City of Avondale to build the Rio Bonita Mixed-Use […]
PHX City Council approves $230M Suns Arena-Renovation Deal
By Jessica Boehm for The Arizona Republic The Phoenix City Council approved a controversial deal with the Phoenix Suns that will keep the NBA franchise in downtown Phoenix through at least 2037. The council voted 6-2, with Vice Mayor Jim Waring and Councilman Sal DiCiccio opposing it, to approve the $230M deal. The city will pay $150M from its […]
Industry Professionals 01-25-19
Giving Back 1. The Tucson office of Terracon presented a $10K check from its foundation to the University of Arizona College of Engineering. The grant will be used to support graduate students studying Geotechnical and Civil Engineering. Awards & Accolades 2. Small Giants, LLC. was recognized by MarCom with 12 awards, including three platinum awards, five […]
Arizona Projects 01-25-19
Groundbreakings 1. FatCats Entertainment started construction on a new 64.1KSF family entertainment center at 5740 E. Longbow Marketplace, Mesa. The $11.5M project will include eight theaters, 20 bowling lanes, arcade, nine-hole glow in the dark mini golf, party room, virtual reality area, bar and restaurant. TK International is the architect and A.R. Mays is the general […]
221-unit Apt. Complex Proposed for Kierland
By Tasha Anderson for Arizona Builder’s Exchange A Planned Unit Development proposal has been submitted to the City of Phoenix to develop a 221-unit luxury multifamily community in north Phoenix called LCG Kierland. The developer, Leon Capital Group, is planning to build the 6-story rental community at the southeast corner of 71st Street and Tierra […]
Need for 2nd High School looms Over Maricopa
By Raquel Hendrickson for inMaricopa.com With a high school already more than 200 students over capacity, Maricopa Unified School District is making moves for short-term solutions while weighing options for the long term. In a special meeting Wednesday, the governing board approved placing eight almost-new portable buildings on the east side of campus to accommodate […]
Commercial Real Estate Transactions 01-15-2019
Sales Transactions 1. Institutional Property Advisors, a division of Marcus & Millichap, announced the sale of Monterra Apartment Homes, a 258-unit multifamily property in Phoenix. The complex sold for $37.2M. IPA Senior Managing Directors Steve Gebing and Cliff David represented the seller, Weidner Apartment Homes, and procured the buyer, an institutional investment manager. 2. Atlantic Development & Investment […]
$146M Copper Sky Development Plans Unveiled
By Tasha Anderson for Arizona Builder’s Exchange Long-awaited plans for the Copper Sky Development have finally been revealed. Maricopa Economic Development Director, Denise Airheart presented plans for the $146M, mixed-use development adjacent to the Copper Sky Regional Park at the City Council special meeting on Wednesday, January 9th, and again at the City Council regular […]
Ariz. Construction Gained 700 Jobs in December
By Tasha Anderson for Arizona Builder’s Exchange Arizona’s seasonally adjusted unemployment rate increased to 4.8 percent in December, up from the November rate of 4.7 percent, according to the latest report published by the Arizona Office of Economic Opportunity. The national rate increased to 3.9 percent. In December 2017, the state had a seasonally adjusted […]
Industry Professionals 01-11-19
AZBEX Staff Announcements 1. Corwyn Geiger – New Hire We are very excited to announce that Corwyn Geiger has joined the AZBEX team as Account Manager. Corwyn will be spreading the word about our products and services and how they can improve business for those working in the A/E/C arena while taking care of current clients. […]