Tucson Multifamily Remains Hot
By Gabriela Rico for Arizona Daily Star Investor interest in Tucson’s upper-end apartment complexes has been high for several years and, while there was some breath-holding at the start of the pandemic, millions of dollars worth of transactions have transpired in the past few months. Investors are focused on the high-wage jobs the city has […]
San Luis Affordable Apartments Offering Tax Credits
By Cesar Neyoy for Yuma Sun The Comite de Bien Estar will be able to offer $2M in federal tax credits as incentives to attract investors in a planned apartment complex in San Luis for low-income families. Valley View apartments is one of 13 projects around the state approved by the Arizona Department of Housing for the credits through the state agency’s Low-Income Housing Tax Credit program […]
P&Z OKs Plan, Wants Better Traffic Analyses
By Raquel Hendrickson for inMaricopa One planned project brought out frustrations entailed in the City of Maricopa’s General Plan and how traffic flow is designed. Though the Planning & Zoning Commission unanimously recommended El Dorado Holding’s Rev Development to the city council for approval, commissioners and staff used the opportunity to push for change. Rev is planned as a 25-acre […]
Avondale Seeking Mixed-Use Ideas
By Corina Vanek for Phoenix Business Journal The City of Avondale is seeking ideas from private developers about how to best develop 34 acres of city-owned land into a mixed-use development with office, hospitality, retail, residential and community amenities. The area, which the city has named “The BLVD,” is at Avondale Boulevard south of Interstate […]
Phoenix Mayor Announces Affordable Housing Plan
Source: City of Phoenix In Phoenix, the COVID-19 pandemic and economic downturn is intensifying the already existing housing crisis. Phoenix residents, as well as residents in other cities across the country, are experiencing job losses, which can make it even more challenging to afford a place to live. According to Housing and Urban Development’s Fair Market Rents, in Arizona the cost of a […]
Multifamily Construction Costs May Drop
By Bendix Anderson for National Real Estate Investor Heading into 2020, a robust development pipeline and rising costs of construction material and labor were major concerns for the multifamily sector. The economic devastation wrought by the COVID-19 shutdowns has put a halt to that, scrambling the projections of economists, developers and contractors. Developers aren’t exactly finding bargains at the moment, since […]
1MSF Stadium Point Gets Master Developer
By Corina Vanek for Phoenix Business Journal A massive mixed-use development with Class A office, hotel, retail and apartment buildings near Peoria Sports Complex is one step closer after the Peoria City Council approved an agreement Tuesday with American Life Inc. and Steinhauer Properties Inc. The project, called Stadium Point, will include more than 1MSF of development on 17 acres owned by the […]
13-building Apartment Complex Proposed for Phoenix
By Tasha Anderson for AZBEX Plans have recently been submitted to the City of Phoenix for the development of a three-story apartment complex at the NWC of 19th and Southern Avenues. Multifamily developer, Dominium is requesting to rezone the approximately 14.16-acre site from Planned Shopping Center to Intermediate Commercial, Height and Density Waiver, to allow for a multifamily residential […]
Colliers’ Phoenix Q1 Multifamily Review
By Thomas Brophy for Colliers International While nearly every aspect of life has changed since March 1st of this year, it is necessary to take stock of where the market was prior to the COVID-19 shock knowing that all previous data sets relied upon have changed. As Elliott Pollack so eloquently stated in his ‘The Monday Morning Quarterback,’ 4/6/2020 post: “You shouldn’t be […]
Tucson OKs Ronstadt Transit Center Redev. Plans
By Joe Ferguson for Arizona Daily Star The Tucson City Council approved a conceptual proposal to redevelop the downtown Ronstadt Transit Center, building a new hotel, apartments, commercial space while retaining the bus station. The $60M deal with local developer Peach Properties would reshape the downtown landscape with four new high rises built mainly along […]