How States are Incentivizing Pro-Housing Reform
In recent years, state governments have taken a more active role in encouraging local policy change to increase housing production and affordability. State-level pro-housing designation programs—which incentivize or require localities to proactively plan for and facilitate housing production—can be an important addition to the policy toolbox. In this report, we profile and compare six pro-housing […]
$136 million land deal brings $20 billion development to Buckeye
Tract, a developer of master-planned data center parks, recently announced its acquisition of a 2,069-acre land parcel in Buckeye. The land acquisition will be one of the largest data center parks in the United States, anticipating up to 20 million square feet of data center space across as many as 40 individual data centers at […]
Californians vote against rent control as Prop. 33 fails
Californians rejected a rent control ballot measure that inspired more than $150 million in campaign spending and laid bare competing visions of how to respond to the state’s housing crisis. Proposition 33, which 62% of voters opposed, would have given cities more freedom to limit how much landlords can raise rent. Opponents — including landlords, […]
Affordable Housing Developer Closes Financing for New Affordable Housing Development in Maricopa
Lincoln Avenue Communities, a mission-driven acquirer and developer of affordable housing, today announced that it has closed financing for the construction of The Ranches at Gunsmoke, a ground-up development in partnership with WNC & Associates (WNC) that will create 271 new affordable homes for families in Maricopa earning no more than 60% of the Area […]
Phoenix is short 59,000 housing units for low-income residents
Phoenix hopes its new housing assessment will help residents and elected officials better understand the city’s housing challenges. The assessment shows Phoenix is short 59,000 rental units for low-income households. Specifically for households at or below 50% of the area median income. For a household of three, that’s about $46,300 annually. Samantha Keating, Phoenix’s deputy […]
Report: AZ job growth will triple national rate over next decade
A new forecast from the Arizona Office of Economic Opportunity predicts the state will see on average 1.3% job growth through 2033, well above the national predicted rate of 0.4%. It predicts growth of more than 2% in two sectors: Health Care and Social Assistance (2.6% or 137,528 jobs) and Construction (2.2% or 51,424 jobs). […]
Phoenix developer that ignited the build-to-rent phenomena has $1 billion in projects lined up
Phoenix-based NexMetro Communities, which started the build-to-rent phenomena that is taking the country by storm, has another $1 billion worth of projects on its plate in several markets, including Arizona. Across the nation, NexMetro has 59 projects with 10,178 homes completed, under construction and in development, and a total investment of more than $2.6 billion […]
2,400 undeveloped acres surrounding TSMC in Phoenix could be a ‘city within a city’
The 2,400 acres surrounding Taiwan Semiconductor Manufacturing Co.’s massive manufacturing plant in north Phoenix now have a name, and the massive site offers the chance to build a “city within a city,” developers said. The site, now called “Halo Vista,” could hold nearly 30 million square feet of buildings, including hotels, industrial buildings, offices, apartments, […]
New census data shows 256,000 people moved to Arizona last year
New estimates from the U.S. Census Bureau show about 256,000 people moved into Arizona last year. A quarter of that came from international migration, but much of the state-to-state movement aligned with job growth. The number of jobs in Arizona grew by more than 2.1% last year, according to the Bureau of Labor Statistics. Arizona […]
Fiesta Mall development project moves forward. What to know
Developers of the former Fiesta Mall site surpassed a major hurdle Tuesday after Mesa’s planning and zoning board gave them the green light to rezone the area. The project is now dubbed Fiesta Redefined and aims to reinvent the 80 acres that was once a premier mall in its heyday. Since 2015, Verde Investments worked […]
