192 Affordable MF Units for Cottonwood
By AZBEX Staff for Arizona Builder’s Exchange Inspiration at Cottonwood will be a new, two- and three-story garden style apartment community designed to provide workforce housing to fill a growing need for families currently living in, or moving to, the Verde Valley. Developer Inspiration Holding Company, LLC hopes to break ground this summer. According to […]
220-Unit Mixed-Use for Mesa Trouble Spot
By Roland Murphy for Arizona Builder’s Exchange W.M. Grace Companies and PB Bell have proposed a Planned Area Development to try to breathe new life into a long-dead site at the NWC of Southern Avenue and Alma School Road in Mesa. The 15-net-acre Fiesta Village site was originally developed as a shopping center in 1979, […]
Eastmark to Launch First Apartment Complex
By Wayne Schutsky for East Valley Tribune The Eastmark master-planned community will mark a new phase in its development this spring when builders break ground on The Premier, the community’s first apartment complex. Currently, Eastmark is best known for its inventory of high-end homes from a dozen custom- and production-home builders in the $300K-and-above range. […]
276-Unit Broadstone Rio Salado Advances in Tempe
By Roland Murphy for Arizona Builder’s Exchange Developer Alliance Residential Company is adding to its “Broadstone” family of multifamily complexes. Last week, Tempe City Council approved plan amendments for Broadstone Rio Salado, a 276-unit development at the SEC of Rio Salado Parkway and the Loop 101. The General Plan 2040 Projected Density amendment sought to […]
AZBEX Initial Forecast Event Surprises
By Peter Madrid and AZBEX Staff for Arizona Builder’s Exchange While it was nearly a given multifamily would be king of the hill in the 2017 commercial construction landscape, many other trends the Arizona Builder’s Exchange staff uncovered in preparation for its inaugural 2018 Construction Forecast event last Friday caught both them and several industry […]
Ariz.’s 1st Crowdfunded RE Company Launches
By Roland Murphy for Arizona Builder’s Exchange Sometimes you come across a story that’s really something groundbreaking, interesting and that has the potential to be a game changer in important areas you cover. Most long-time reporters will tell you there are two great sources of frustration in doing their job. The first is trying to […]
Land Sales Accelerated in 1st Half
By Roland Murphy for Arizona Builder’s Exchange While pricing trends have been mixed, Phoenix area land sales in the first half of 2017 have accelerated, according to a Colliers International in Greater Phoenix report. Land parcel sales rose 11 percent from the second half of 2016, and transactions jumped 50 percent from the first half […]
Why Incentivize When There’s Nothing to Buy?
By Roland Murphy for Arizona Builder’s Exchange While I tend to lean slightly toward optimism, no one has ever accused me of a rose-colored worldview. Some of the reports that have crossed my desk recently have reinforced my, “That’s good news, but…” default outlook. Nearly everyone, including Millennials, is tired of stories focused on Millennials. […]
Sedona Meditating on 1st MF Dev. Since ’07
By Roland Murphy for Arizona Builder’s Exchange Better known for New Age retail, art galleries, scenic vistas, tourist lodging and single family/vacation housing, the City of Sedona is considering a proposed 45-unit multifamily development on West SR 89A. If the necessary approvals crystalize, 89A Apartments will be the city’s first multifamily development since 2007. The […]
Forget 2030, We’re Under-Constructed NOW!
By Thomas M. Brophy, ABI Multifamily Director of Research As one LinkedIn user lamented on all of Scottsdale’s new multifamily development, “our unofficial bird is now the Crane.” Given all the market chatter about overheated multifamily construction, both inside and outside of commercial real estate circles, I felt it prudent to dig a bit deeper […]