Mesa Considers Ways to Grow Its Downtown
The City of Mesa is actively devising strategies to invigorate downtown growth. Geanluca Lorenzon, representing the Stanford University Graduate School of Business Policy, presented a series of recommendations to the Economic Development Advisory Board aimed at revitalizing the area. These recommendations included establishing a “special regulatory corridor” downtown to facilitate redevelopment, extending downtown development westward […]
Arizona Receives “C+” on CSI Report Card
The Common Sense Institute’s May 2024 Housing Report Card grades Arizona’s housing market a “C+,” highlighting its high costs and supply-demand disparity compared to historical and national standards. With above-average inflation and rapid home price increases, Arizona is increasingly expensive to live in compared to other states. The report emphasizes the significance of local permitting […]
Two Build-to-Rent Communities Coming to South Phoenix
Rockefeller Group, a developer based in New York, is bringing two build-to-rent developments to south Phoenix, totaling 152 units. The two developments are 1.75 miles from each other, located at 8181 S. 20th St. and 825 E. Euclid Ave. In addition, there are various deals being made across Arizona, including the grand opening of the […]
Pet-friendly Apartments are in High Demand for Potential Renters
According to Zillow, pet-friendly apartments top the list of renter’s priorities, surpassing amenities like air conditioning and in-unit laundry. Their study shows that pet owners make up the majority of renters, with 59% reporting pet ownership in 2023, up from 46% in 2019. With pet-friendly apartments in high demand, a bill was passed in Arizona’s […]
Mesa Council Approves Multi Family-Commercial Complex
Mesa is gearing up to welcome a multifamily-commercial complex on Elliot Road called The Craftsmen, which will include 386 multifamily units, two office buildings, two restaurants, and ground-floor retail. Additionally, The Cottages residential project will take center stage at an upcoming Council meeting. This proposed development features 37 townhouses, each offering two bedrooms, two bathrooms, […]
The Impact of Vacation Homes on Arizona’s Housing Shortage
Arizona’s lenient regulations on short-term rentals have turned it into a thriving market for companies like Airbnb and Vrbo, with approximately 50,000 active listings in the state. However, the use of residential homes as vacation properties worsens Arizona’s existing housing shortage. Critics fear that proposed laws, such as HB2720, permitting backyard casitas, and HB2721, allowing […]
Demand for Rental Homes Skyrockets Due to Rising Housing Costs
Developers are building new rental homes at a record pace to capitalize on high home prices and rising mortgage rates, which are leading more Americans to rent. In 2023, an estimated 93,000 new single-family rental homes were completed, marking a 39% increase from 2022. The new rental homes come in various sizes and types and […]
California Democrats Oppose State-Wide Rent Control Ballot Measure
As California struggles with high rents and housing insecurity, advocates of a rent control ballot measure argue that it is a crucial step towards stability. Spearheaded by AIDS Healthcare Foundation president and prominent political figure, Michael Weinstein, the initiative seeks to overturn a state law barring cities from implementing rent control on newer apartments. Some […]
New Law Mandates Conversion of Office and Commercial Buildings to Multifamily Housing
Governor Katie Hobbs recently signed HB2297 into law, mandating certain cities and towns allocate up to 10% of their office, commercial, and mixed-use buildings for conversion into multifamily housing. Reid Butler, former chair of the Arizona Multihousing Association, views this legislation as a potential solution to the state’s housing crisis. While he recognizes the suitability […]
Cosanti Development Makes Progress Towards Final Approval
Cosanti, a three-story apartment complex in Scottsdale, has been approved by the Development Review Board and Planning Commission and is awaiting final approval by the Scottsdale City Council. Despite some opposition due to concerns about traffic and crime, the project is viewed as a positive addition to the area, providing housing for first responders, healthcare […]
