More than 200 apartments to go up near former Metrocenter mall
A planned development near the closed Metrocenter mall will be the first new construction in the area in decades. The four-story building will feature one- and two-bedroom apartments and the first units will be available in August. SOURCE: https://www.orionprop.com/topfive/scottsdale-based-company-makes-way-for-apartments-near-metrocenter-in-phoenix/
Local Property Owners Draw Renters With Incentives – Especially in Phoenix
Property managers are using incentives to attract renters in the Phoenix area, a new Zillow analysis shows. Competition for tenants is increasing and property managers are now offering free rent or free parking to entice new residents. Source: https://inbusinessphx.com/economy-trends/rent-remains-high-with-more-properties-are-offering-incentives-especially-phoenix
Developer plans to build more than 10,000 new homes in this metro Phoenix community
The Southeast Valley continues to be a homebuilding hub as Brookfield Residential next year plans to start selling the first of a total of 10,000 more homes on a 275-square-mile site that Apache Junction has annexed. As the article reports, “The first phase of Blossom Rock will include 200 acres, 554 homes, 300 apartments, a […]
Wave of Rental Resets to Further Deplete Affordable Housing
Up to 188,000 units of affordable housing could revert to market rate rent by 2027 as 30-year government tax credits expire. And by 2033, roughly 100,000 units of tax-credit housing could expire each year without new subsidies or incentives. Since 1987, the federal government has financed more than 3.5 million of these units, which are […]
Arizona leads nation in build-to-rent construction
Although single-family rental homes aren’t a new idea, they’ve flourished in metro Phoenix in recent years. Arizona leads the nation in build-to-rent homes, with 2,011 planned or being built per million residents compared to the national average of 345. And 6,000 of the 8,200 units in the Valley popped up in the past five years. […]
Do’s And Don’ts For State And Local Governments On Housing
This piece gets right to the point by saying that the problem with housing is a lack of supply and increasing demand. The author suggests there are things state and local governments should and should not do if they want to increase supply. First, he explains, they should prevent inclusionary zoning, which discourages production by […]
Backyard casitas, duplexes, triplexes are all in the mix. Big changes coming to Phoenix housing codes
In more positive news, Phoenix in late June took steps to legalize casitas, duplexes and triplexes to help boost the amount of housing city. In a common-sense move supported by many homeowners, it would allow fully livable accessory dwelling units (ADUs, also known as casitas) on the property of a single-family home, given it meets […]
The State of the Nation’s Housing 2023
This in-depth study from Harvard University examines many facets of the housing crisis in both the single-family and multifamily sectors. Takeaways for multifamily include the fact that apartment starts are at their highest level since the mid-1980s, with 960,000 in the pipeline in March 2023. However, the vast majority of these units are out of […]
American Cities Have a Conversion Problem, and It’s Not Just Offices
Cities need to be flexible and allow for changing needs, whether in roads, public spaces or buildings. For example, cities could provide more housing by converting unused offices or hotels. But several factors prevent this. Rigid and often outdated zoning codes block adaptation to new uses—New York City’s original 1916 zoning codes ran about 14 […]
Legislature failed on housing package. Why that matters to Arizonans, the economy
With more than half a million Valley residents paying more than they can afford for rent and homelessness up 72 percent, the legislature had a chance this session to pass bills offering at least some relief. However, SB 1161 and SB 1163 died before going to a vote. They would have allowed higher-density housing near […]
