New Multifamily Development Rezoning Approved in San Tan Valley
The Pinal County Board of Supervisors approved a controversial rezoning for a Real Estate Equities development in San Tan Valley, despite opposition from the Planning and Zoning Commission and county staff. The project includes apartments and retail on almost 17 acres. County staff expressed concerns about traffic and noise; however, the board believed the project […]
Ranking Arizona’s 2024 Top 10 Multifamily Builders
The top 10 multifamily builders in Arizona, as determined by public voting for the 2024 edition of Ranking Arizona, showcase a diverse array of industry leaders. These include Mark-Taylor Companies, MT Builders Companies, Adolfson & Peterson Construction, NexMetro Communities, Liv Communities, CHASSE Building Team, Alliance Residential Company, Optima Construction, Decca Multi-Family Builders, and VIVO Development […]
Proposal High-rise Student Housing in Tempe in the Works
Landmark Properties, a Georgia-based firm specializing in student housing, aims to build a 21-story apartment complex called the Standard at Tempe on 1.1 acres near Arizona State University. The project, replacing the Vine Tavern & Eatery and a gas station, would offer 363 units with ground-floor retail. Despite the developer’s request for 21 stories, city […]
Rent Dips in Sun Belt Cities While Others Across U.S. Soar
Sun Belt cities, initially quick to build apartments to address the pandemic-driven demand surge, are now facing an oversupply challenge, resulting in rent decreases. Redfin’s April report underscores this trend, with notable rent drops across these cities due to surplus housing stock. Notably, nine of the top ten cities with the largest rent declines were […]
Queen Creek Faces Water Supply Crisis as Population Booms
Queen Creek, Arizona’s fastest-growing city, faces significant housing and water demands due to its booming population. Construction in many of Arizona’s cities necessitates proof of a century-long water supply. Governor Katie Hobbs revealed last June that metro Phoenix’s groundwater could run short within this period, prompting restrictions on new developments, notably affecting Buckeye and Queen […]
New Multifamily Developments and a Sam’s Club in Tempe are on the Horizon
Two multifamily projects, Tempe Gateway and Sterling Tempe, have been recommended for approval by the city’s Development Review Commission. Tempe Gateway will feature 910 new apartment units and 24,000 square feet of commercial space, with construction of the first phase slated to begin in 2028. Sterling Tempe will consist of a 256-unit, five-story apartment complex […]
New Mixed-Use Development Replacing Tree Nursery in South Phoenix
A 104-acre plot in south Phoenix, formerly a tree nursery, is set to transform into a mixed-use development. The plans encompass a blend of residential and commercial spaces, featuring houses, apartments, and various retail establishments including shops and eateries. The project is a collaborative effort among three landowners, with a significant portion allocated for commercial […]
Phoenix’s Rent Prices Slowdown, Overall Inflation Follows Suit
Phoenix is making significant progress in combating inflation, outpacing many other cities. Recent data corroborates the long-held assertions of economists and the Federal Reserve: when rents decline, overall inflation tends to follow suit. With Phoenix experiencing a slight slowdown in population growth and a significant increase in available rental properties, renters can anticipate a decrease […]
Sedona’s Temporary Residence Program’s Fate Left to Voters Come November
The fate of Sedona’s Safe Place to Park program will be decided by voters in November. The proposed program aims to designate a six-acre parking lot at the Sedona Cultural Park as a temporary residence for full-time employed workers who cannot afford traditional housing and need to live in their cars. Participants would be required […]
Two Housing Bills Hit Gov. Hobbs Desk in May
Governor Katie Hobbs will soon decide on two key housing bills: House Bill 2720 and House Bill 2721. HB2720 would allow Accessory Dwelling Units statewide, while HB2721 aims to ease regulations on creating duplexes, triplexes, fourplexes, and townhomes in municipalities with 75,000 residents or more. Both bills have bipartisan support and opposition in both chambers. […]
