These Millionaires Can Afford Their Dream Home. They’re Renting Instead.
George Goognin, the millionaire founder of a fintech startup, moved to the U.S. two years ago from Russia. He planned to rent while he searched for a place to buy in Silicon Valley. But after a monthslong househunt, he saw nothing he liked. So he moved on. He looked for a home to buy in […]
Pima County supervisors move housing solutions forward
There’s a housing shortage across the country and the problem is hitting Tucson especially hard. The Pima County Board of Supervisors will take some steps Tuesday – modest as they may be – toward addressing the issue. Tucson has always been a low-wage town but locals could live with it because a two-bedroom apartment could […]
Pima County tackles housing shortage
County supervisors are looking for ways to come up with another $5 million for affordable housing each year. Supervisor Matt Heinz has been pushing for this since the spring and in July the supervisors asked staff to figure out their options. County Administrator Jan Lesher laid out those options, and the obstacles for each one, […]
AMA collects thousands of holiday gifts for UMOM families
Members of the Arizona Multihousing Association and its charitable arm, the Arizona Multihousing Charitable Foundation (AMCF), collected, sorted and delivered thousands of holiday gifts that will benefit families at UMOM New Day Centers who are experiencing homelessness. The “Hope for the Holidays: Adopt A Family” drive held at AMA’s annual trade show on Sept. […]
Panel Discusses Streamlining Project Review Processes
Early and frequent interaction with municipal planning staff is the key to making sure plan reviews and project approvals happen as quickly and efficiently as possible. The theme of engagement and communication was the most frequently touched upon in this week’s BEX Leading Market Series presentation: Expediting Project Success: Mastering Municipal Approvals. The amount of […]
My View: Arizona needs more housing. Adopting these policies can get us there
Arizona, once renowned for its affordable living, now finds itself grappling with the consequences of rapid population growth and inadequate housing supply, a problem exacerbated by high interest rates and construction costs. This housing situation threatens the state’s economic vitality and social stability. Arizona must first implement policies that facilitate the development of diverse housing […]
Phoenix apartment rents continue downward slide
Multifamily rents took another step backward last month as supply-side pressure continues to hamper Phoenix property performance. The average asking rent fell 0.4% in August, marking the sixth-consecutive month with decreases and the worst month-over-month decline since November 2023. Intense competition from new supply has prompted many operators to lower rents to attract residents. Over […]
Phoenix apartments sell for record price
New York-based Clarion Partners just sold a 497-unit Valley apartment community for $187.5 million, according to Tempe-based Vizzda LLC — nearly three times its $64.25 million purchase price in July 2004. The deal represents the largest single asset multifamily sale in Arizona so far this year, according to Yardi Matrix data. Metro Phoenix hasn’t seen […]
Here’s how rent costs remain top issue in Arizona
Since the pandemic, the cost of rent in the Valley has grown and made affordable housing more difficult to attain, even as rents have tapered off from their peak. AZRE magazine sat down with Courtney LeVinus, president and CEO of the Arizona Multihousing Association, to discuss the state of the market, what’s being done at […]
New budget-conscious community begins leasing in Phoenix
A new budget-friendly community in central Phoenix is now open for leasing and tours. Streamliner 16th, located at 16th Street and Polk Road, will bring 208 housing units to the area. Move-ins will begin on Sept. 15. “Our mission is to provide high-quality apartments in locations that residents can be proud of—without the high cost,” […]
