PHX Named 5th Largest/Fastest Growing City
By Roland Murphy for Arizona Builder’s Exchange Phoenix Mayor Greg Stanton let the news slip at the Bisnow Phoenix New Construction and Development event earlier this month (AZBEX, May 19) and last week the City and other sources jumped on the official announcement: Phoenix is both the 5th largest and the fastest growing city in […]
PHX is a Triumph, but Challenges Remain
By Roland Murphy for Arizona Builder’s Exchange Anyone looking for negativity or opposition to the bustling pace of development in Phoenix’s Downtown – or anywhere else in the metro area for that matter – would have found themselves in hostile territory at this week’s Bisnow Phoenix New Construction and Development event. In fact, the only […]
Phoenix Multifamily Remains Strong
By Roland Murphy for Arizona Builder’s Exchange “Phoenix is riding a wave of high performance” in the multifamily market, according YARDI Matrix’s Spring Analysis. Rents in Phoenix rose 5.1 percent year over year, significantly outpacing the national 2.7 percent rate. There are 9,000 units under construction, with another 16,000 in planning stages. Phoenix remains less […]
ABI: Phoenix MSA 1Q 2017 Multifamily Review
By Thomas M. Brophy, ABI Director of Research The Phoenix MSA multifamily market had another stellar first quarter fueled by both robust jobs and population growth. In fact, Maricopa overtook Texas’ Harris County as top spot for population growth adding 81,000 people, an average of 222 new residents per day, between July 1, 2105 to […]
Minor Amendment Review Coming for Block 23
By Brenna Goth for The Arizona Republic Archaeologists recently unearthed evidence of prehistoric people and remnants of Phoenix’s first fire station in the heart of downtown, where the area’s only grocery store is set to break ground April 13. Last week crews finished a three-week dig at Block 23, named for its place in Phoenix’s original […]
ASU Tackles Future of Transportation
Source: Arizona State University/The Arizona Republic Roughly 40 percent of the nation’s roads and major highways are not considered to be in good condition, and about 70,000 of U.S. bridges are structurally deficient. During the 2016 presidential campaign both candidates seized on our failing transportation infrastructure, each promising heavy investments to rebuild roads and bridges. […]
Hance Park Moves Toward $118M Makeover
By Brenna Goth for The Arizona Republic As downtown Phoenix’s biggest park prepares for its national debut hosting NCAA March Madness fan events, advocates of a $118M redevelopment plan for the green space are shifting focus from creating a vision to finding money to execute it. City and community leaders are closer to implementing new plans […]
SWA Planning $40M Sky Harbor Expansion
By Roland Murphy for Arizona Builder’s Exchange Southwest Airlines announced Wednesday it will increase its presence at Phoenix Sky Harbor International Airport over the coming years by occupying the future eight-gate concourse at Terminal 4 and investing $40M to expand its maintenance facility. The concourse, which will be the eighth and final at Terminal 4, […]
Reports Show PHX Retail, Big Box Doing Well
By Roland Murphy for Arizona Builder’s Exchange The Valley’s retail sector closed out 2016 on a high note, according to recently released findings by CBRE Research. The Q4 Phoenix Retail Marketview shows the quarter experienced nearly 600KSF of positive net absorption, the most in 2016, and vacancy dropped four basis points quarter-over-quarter, ending Q4 at […]
Phoenix Multifamily is “On Fire”
By Roland Murphy for Arizona Builder’s Exchange Like sizzling daytime summer highs and chilly overnight winter lows, the Phoenix-area multifamily market runs hot and cold. Currently, the market is “on fire”, according to the Yardi Matrix Winter Report for 2017. Rents Rents in Phoenix rose 5.9 percent year-over-year through November. The national average was 4.4. […]