Developer: Hotel re-use will enliven east Ahwatukee
Scottsdale developer Caliber is planning to convert a sagging hotel on a blighted block of land into a chi-chi resort-style rental complex with 184 units just off of the I-10 and Elliot Road in Ahwatukee Foothills. The Four Points by Sheraton Phoenix South Mountain sits on a county island, so it only needs approval from […]
Canal-front apartments to replace Hinkley’s Lighting in Phoenix
RAS Development plans to build a mixed-use, mid-rise building with 150 apartments with rents close to “average” to replace the iconic Hinkley’s Lighting, which is vacant, in central Phoenix. The city will need to rezone the parcel for the project. Source: https://www.axios.com/local/phoenix/2023/01/04/canal-front-apartments-replace-hinkley-lighting?utm_source=newsletter&utm_medium=email&utm_campaign=newsletter_axioslocal_phoenix&stream=top
Expansions, housing: Here’s what’s next for Chandler in the new year
As Chandler continues to grow as a hub for technology and manufacturing, it needs to keep up with housing. Intel is expanding and Gummi World needs hundreds of workers, and as the article reports, a couple of luxury apartment complexes bringing more than 700 units are in the works. But city residents and leaders have […]
Special Report: Multifamily Rent Forecast Update
Predictions for 2023 show rent prices likely will soften to more “normal” growth, albeit on the low side. Although 2022 saw beefy increases in rent—6.4 percent nationally, on average—they started to taper off late in the year. Signs point to slowing GDP growth earlier in the year and possibly a shallow recession in Q3-Q4 or […]
Apartments, rental houses planned in north Phoenix as TSMC drives business, housing demand
Taiwan Semiconductor Manufacturing Co. will bring about 4,500 direct jobs to north Phoenix and another 10,000 indirect jobs such as suppliers across the state, and developers are planning to build housing to meet the growing demand. Mack Real Estate Group already started to lay plans in north Phoenix and bought another 21 acres for creating […]
The Graying of America’s Homeless: An Alarming Trend
AARP highlights the fast growth in people over 55 experiencing homelessness. Nearly 20 percent of people in the U.S. without a permanent place to live are over 55, and older adults may be the fastest-growing segment of this population. Housing prices spiking due to lagging supply is a major factor. Rodney Harrell, vice president of […]
Glendale markets downtown property for development opportunities
Glendale seeks to transform parking lots and vacant buildings on 1.36 acres downtowninto a destination district with things like pubs, restaurants, breweries, speciality retailand entertainment. Nothing is being said about housing, particularly high-densityhousing with ground-floor retail and services, which would be ideal for creating a vibrant downtown.https://www.bizjournals.com/phoenix/news/2022/09/26/glendale-downtown-development-phoenix.html
Mesa mobile home community sells for $44 million
Northmarq’s Manufactured Housing group announced the sale of Country Club Village, a 493-site mobile home community located at 2060 N. Center Street in Mesa, Arizona. The buyer was Havenpark Communities, LLC from Orem, Utah. Northmarq’s Phoenix team of Jared Bosch, Don Vedeen and Chris Michl and the Los Angeles team of Jeff Bensen and Samuel […]
Is a housing market crash on the way in 2022?
Last year was anything but normal — especially in Arizona’s residential real estate market. Median sale prices rose in Phoenix from $325,000 in January 2021 to $404,300 by October, a 24.4% increase, according to real estate website Redfin. Houses listed for sale saw fierce bidding wars with buyers willing to contort themselves to meet sellers’ […]
Empire Group buys 40 acres of North Phoenix land for $14.37M
The Empire Group of Companies closed this week on a 40-acre parcel located in North Phoenix near the site of the $12 billion Taiwan Semiconductor Manufacturing Company (TSMC)facility that is projected to open in 2024. Empire Group purchased the North Phoenix land for $14.37 million with plans to build a community of 354 single-family build-for-rent […]
