Author: BEX Staff

Awards & Accolades 1. Sundt Construction, alongside architectural firms Poster Mirto McDonald and Miller Hull, won three Design-Build Institute of America Western Pacific Region awards. The Design Excellence Award, Award of Excellence for Diversity, Equity, and Inclusion in Design Build and The Innovation Award awards were presented for their work on the Student Success District project for The University of Arizona. Company News 2. The Weitz Company announced the celebration of its 45th anniversary since the opening of its Arizona office. Since 1978, Weitz has played a vital role in shaping Arizona’s construction landscape, successfully completing more than 1,115 projects…

Sales Transactions 1. Global Hospitality Investment Group has paid $115.5M for the DoubleTree Resort by Hilton Paradise Valley in Scottsdale and is planning an additional capital investment to improve the property. The seller was Southwest Value Partners. 2. EQT Exeter has paid $105M for 570KSF of the total 1.25MSF G303 Industrial development at 6605 N. Sarival Ave. in Glendale. The sellers were Hines and Oaktree Capital Management. 3. Arizona Land Consulting has bought 265 acres near Baseline Road and Highway 85 for $24M. The site is expected to be the eventual home of a new industrial development, but no developer…

Through subsidiary SR24Meridian QOZB LLC, Valley auto dealer and real estate company Earnhardt Arizona Properties is planning a 492KSF, five building industrial development on 41 acres near SR 24 and Meridian Road in Mesa. Plans submitted by design firm Ware Malcomb show five buildings between 66KSF and 141KSF on the intended site. Stated uses include both warehouse space and an office component. Earnhardt bought the land for $12.65M in late 2021. Applications for the Meridian Commerce Park (aka Meridian 24) development are under review by both the Mesa Design Review and Planning and Zoning boards. (Source)

By Roland Murphy for AZBEX Another noted Arizona resort is planning an expansion and modernization project. Grossman Company Properties (Arizona Grand Resort LLC) has filed a planned unit development application with the City of Phoenix to redevelop and modernize portions of the Arizona Grand Resort at the SWC of I-10 and Baseline Road. According to the submitted narrative, the project will focus on “infill sites” that have never been developed on the property and updating other areas in an effort to modernize the resort’s amenities and offerings while maintaining its classic character. The total project will add conference/ballrooms, one or…

The U.S. House Natural Resource Committee has passed a bill that would let Salt River Project build a new power generating reservoir development near Apache Lake. House Bill 1607 was introduced by Republican Arizona Representative David Schweikert and co-sponsored by Republican Rep. Debbie Lesko and Democratic Reps. Greg Stanton and Ruben Gallego. Arizona Independent Senator Kyrsten Sinema and Democratic Senator Mark Kelly have introduced companion legislation in the U.S. Senate. SRP is considering two possible sites above Apache Lake for a reservoir development that would release water into the lake through a hydropower dam to generate electricity for the Phoenix…

Tucson City Council has voted to annex approximately 300 acres across three parcels adjacent to a planned 2,000-acre industrial development near Vail. The annexation was necessary before any zoning considerations can move forward and was passed on a 5-1 vote. Some residents and officials with Acacia Elementary School, as well as some members of Council, expressed concern about the annexation and the planned development. Councilmember Steve Kozachik, who voted against the measure, said some residents were left out of the annexation and would not have any say in the matter. He also expressed concerns about potential impacts large-scale industrial uses…

Tucson officials announced the City will receive a $50M grant from the U.S. Department of Housing and Urban Development’s Choice Neighborhoods program in support of its affordable housing efforts. The money will go toward renovations at the Tucson House public housing development and to help develop three new affordable housing communities. The funding is directed toward Tucson’s Thrive in the ’05 initiative, which plans to create 550 new or rehabilitated housing units focused in the 85705 ZIP Code area. Tucson House is Tucson’s largest public housing site, with 408 units on North Oracle Road. The plan is to convert the…

Groundbreakings 1. StarPoint Properties has begun construction on Dobson Station, a 245-unit community at 139 N. Dobson Road in Mesa. Completion is expected this year. 2. The Town of Gilbert could begin construction as early as this month on the $31M Guadalupe Road Reconstruction and McQueen/Guadalupe Intersection project that will improve Guadalupe Road between Arizona Avenue and McQueen Road. Construction is expected to take 12-14 months and will progress from east to west widening and rebuilding Guadalupe and ending with the intersection at Guadalupe and McQueen. 3. Phoenix Theatre Company announced it will begin construction in August on the $30M…

By National Association of Home Builders The lack of skilled construction labor is a key limiting factor to expanding home construction and improving housing inventory and affordability. The latest Construction Labor Market Report from the Home Builders Institute provides an outlook for residential construction employment and includes state-level employment data. Key findings in the report include: The construction industry currently needs approximately 723,000 new construction workers each year to meet demand. Residential construction represents 3.2 million of the construction payroll employment of 7.9 million. The number of open construction sector jobs currently averages between 300,000 to 400,000 every month. At…

Holualoa Companies has plans for a new development under its Dwell banner. The company will redevelop part of an office site it owns at 21st Street and Highland Avenue to add 144 affordably targeted apartments. The 13-acre site currently has two office buildings, a garage, a restaurant and a two-acre lake. The restaurant will be razed to accommodate the new multifamily portion. Holualoa bought the site in 2021 for $50M and filed a zoning request with the City of Phoenix this June to start the redevelopment process. Company officials said building developments from scratch can have higher infrastructure costs. The…