Author: BEX Staff

By National Council of State Housing Agencies (On June 16), Senate Finance Committee Chairman Mike Crapo (R-ID) released the much-anticipated text of the tax and Medicaid portion of the Senate’s reconciliation bill, with significant differences from the House-passed version of the One Big Beautiful Bill Act. Like the House bill, the Senate text includes a major expansion of Low-Income Housing Tax Credit resources, providing a permanent 12% increase in Housing Credit authority for the 9% program and permanently lowering the bond financing test from 50% to 25%. The House bill would increase Housing Credit authority by 12.5% and lower the…

By BEX Staff for AZBEX The Mesa Planning and Zoning Board has voted to recommend amendments to the City Code to establish zoning restrictions for data center development. The measure will now move to City Council. AZBEX has extensively covered proposed restrictions on data center zoning and development in Mesa, Phoenix and Tempe in recent issues, as well as opposition to those restrictions and their potential impacts on statewide economic development. (AZBEX: May 21; June 10; June 18) Local news reports say the amendments will define data centers in the City code and change the definition of indoor storage and…

By Roland Murphy for AZBEX Mary-T Inc. is planning a mixed-use development combining 77 age-restricted apartments and more than 30KSF of retail at the NEC of Cottonwood Lane and Peart Road in Casa Grande. The developer has submitted a major site plan to the Casa Grande Planning and Zoning Commission. City Council approved a rezoning to the Mary-T Marketplace & Senior Residences Planned Area Development for the undeveloped, roughly five-acre site at 1546 E. Cottonwood Lane last year. Plans call for two three-story mixed-use buildings with heights of 36 feet. According to the staff report, “Between the multifamily units in…

By Roland Murphy for AZBEX Project owner Kuber Development has submitted a pair of stipulation requests for a planned 108-room TownePlace Suites by Marriott hotel and conference center at the SWC of 48th Street and University Drive in south Phoenix. The roughly 5.5-acre site is comprised of two parcels and was zoned C-2 MR (Intermediate Commercial with a Mid-Rise designation) in 2007. That rezoning carried with it 12 general stipulations detailing the look and feel of any subsequent development, along with traffic and street development guidelines. In a submittal to the Phoenix Hearing Officer, GKI Architects has requested changes to…

By BEX Staff for AZBEX Gov. Katie Hobbs has signed a nearly $17.6B budget spending plan. The approval follows weeks of standoffs between the Governor’s Office and the Arizona State Legislature that raised tensions around the state, with a possible government shutdown looming July 1. News reports say there was disappointment expressed by Hobbs, as well as by both Democrats and Republicans in the Legislature. All sides, however, expressed varying degrees of relief a compromise was reached that will allow operations to continue. Both Democrats and Republicans claimed victory over some points and conceded losses on others. Other reports provided…

Giving Back 1. Achen-Gardner Construction, Southwest Gas, Arizona 811 and the Arizona Corporation Commission celebrated Trench Safety Week by visiting construction sites to reinforce safe trenching practices. 2. Brycon recently announced the results of its annual backpack drive. This year, Brycon was able to fill and deliver 100 fully assembled backpacks with essential school supplies for students. Awards & Accolades 3. Andrew Bloom, founder of BVO Luxury Group and a longtime partner of Fidelity National Title Agency, recently celebrated 30 years in Arizona real estate. Bloom has closed more than 3,000 transactions totaling $1.6B in volume. He was inducted into…

Sales Transactions 1. Cushman & Wakefield announced it advised the sale of Desert Cove Industrial Center, a newly constructed 168KSF industrial property at 11301 N. Litchfield Road in Surprise. The building was delivered in June 2024 by Evergreen Development. An affiliate of Cohen Asset Management, Inc. acquired the property for $36.3M. Will Strong, Molly Hunt, Michael Matchett, Jack Stamets and Madeline Warren of C&W represented the seller. C&W’s Brian Share and Garrett Stasand advised on acquisition financing. John Werstler, Cooper Fratt and Tanner Ferrandi of CBRE provided market leasing advisory. 2. Denali Apartments LLC purchased the Seventh apartment community at…

By Roland Murphy for AZBEX With implementation of the Maricopa County Proposition 479 half-cent transportation sales tax set to begin at the start of next year, carrying on the previous funding from the expiring Proposition 400, the Maricopa Association of Governments is working to finalize its Arterial Life Cycle Program. The ALCP is a reimbursement-based program funded entirely by Prop 479 revenues. Policies for the program were developed by MAG’s ALCP Working Group and approved by the MAG Regional Council in March. Programming for the ALCP is spread across five phases, covering, and even looking beyond, Prop 479’s 20-year lifespan.…

By Arizona Department of Transportation The Arizona Department of Transportation‘s study of passenger rail between the Phoenix and Tucson areas is ready to take an important step forward. The Federal Railroad Administration has approved ADOT’s submissions in the first step of the Corridor Identification and Development Program: a scope, schedule and budget for preparing a Service Development Plan that will outline key elements necessary for establishing passenger rail service. Work on the Service Development Plan can begin after approval of a federal grant, which is expected in the coming weeks. Completing the Service Development Plan is expected to take two…

Owner IHG Hotels & Resorts is undertaking a $5.5M upgrade of the luxury Kimpton Hotel Palomar Phoenix on East Jefferson Street downtown. All 242 rooms will be renovated, including the hotel’s 27 suites. The guest common areas are part of the renovation project, which is planned to improve the guest experience and expand the “urban retreat experience,” according to hotel representatives. Beleco Design was chosen to design the guest room improvements, which include updated furnishing, curated artwork, an enhanced minibar and upgraded bathrooms. Renovations will progress floor-by-floor to allow the hotel to remain in operation during construction and not disrupt…