Legislators Make Progress Towards Addressing Affordable Housing, Passing Three Major Bills
Following the collapse of a major bipartisan housing legislation package in the 2023 session, hopes were high for progress in 2024. Governor Katie Hobbs signed three significant housing bills—HB2297, HB2720, and HB2721—during the session. HB2297 mandates major cities to create standards allowing up to 10% of vacant commercial buildings for multifamily residential use without traditional […]
Prioritizing Placemaking in Conversion Properties
The trend of converting office spaces into residential units is gaining popularity, with Phoenix being in the top 10 leading metro areas for this trend. “Placemaking” is essential for turning these spaces into lively community centers, as many of these vacant buildings have had a negative or at least neutral impact on their surrounding communities. […]
Phoenix Welcomes New Luxury Rental Home Community
Suncrest, a residential master developer, recently opened their luxury rental home community – Zora Encanto in Phoenix. Situated near major employment hubs, this enclave boasts 109 luxury, ranch-style rental homes, each offering an array of amenities from private entrances and turf backyards to smart home technology and convenient doggy doors. Zora Encanto promises a lifestyle […]
Governor Hobbs Signs Two Major Housing Bills
Governor Katie Hobbs recently signed two housing bills. The first bill, HB2721, allows the construction of missing middle housing types within central city areas and large new developments, potentially increasing housing availability. The second bill, HB2720, will require Arizona cities to allow accessory dwelling units on the properties of single-family homes that are within a […]
Sedona’s Safe Place to Park Program on Hold Until Nov. Election
Sedona faces a homelessness issue, proposing the Safe Place to Park Program as a potential solution. The initiative targets employed individuals living in vehicles due to unaffordable housing. City Council approved a zoning change to accommodate the program, aiming to preserve Sedona’s workforce until more housing is available. However, opposition has arisen, leading to a […]
Hotel-to-Apartments Project Receives Approval in Mesa
Neighborhood Ventures, a Phoenix-based real estate crowdfunding company specializing in value-added investments, recently gained approval from the Mesa City Council to rezone a 3-acre site previously home to the American Inn & Suites on Country Club Drive. Their ambitious project, Venture on Country Club, entails converting the hotel into a 120-unit multifamily building, marking their […]
Office-to-Apartment Conversions Trend on the Rise in Phoenix
The office vacancy rate surged to 25% in 2023, a notable increase from 15.4% in 2019. This shift, attributed to remote work trends, has spurred developers’ interest in repurposing office spaces into residential units, particularly in the Metro Phoenix area. Notable among these conversions is One Lexington, once an office tower, now transformed into a […]
The Redevelopment Plan That Made Downtown Phoenix a Destination Location
Today, Downtown Phoenix thrives as a vibrant urban center, characterized by a diverse residential demographic encompassing both young professionals and residents aged 50 and above seeking an urban lifestyle. With its growing population set to surpass 30,000 by 2030, downtown Phoenix has proven to be a destination location—a stark contrast to its state in the […]
115-unit Townhome Community Coming to North Scottsdale
Developer K. Hovnanian seeks to develop a 115-unit townhome community called Aria at Silverstone in North Scottsdale. The proposal aims to establish a two-story residential community similar to other K. Hovnanian developments. However, it has garnered mixed reactions from neighbors. Opponents argue that it exacerbates area congestion, advocating for office/commercial zoning instead. Despite concerns, recent […]
Scottsdale Sustainability Plan Postponed Due to Residents’ Concerns
Scottsdale’s proposed sustainability plan, focused on energy, water, waste, air quality, and extreme heat, is aligned with voter-approved initiatives and developed with input from Arizona State University but has faced major opposition from citizens during a recent council meeting. While some emphasized the plan’s importance for Scottsdale’s future, many residents expressed concerns about costs and […]
