Author: BEX Staff

By Roland Murphy for AZBEX Pinal County officials are expected to consider a rezoning and San Tan Valley Special Area Plan amendment request that would rezone 7.7 gross acres at the NWC of Gary Road and Skyline Drive to allow development of a townhome and apartment community with supporting commercial uses. According to the submitted narrative, “The parcels were created from farmland with the development of Morning Sun Farms back in 2008 and have been under the same ownership since. The original intent was to develop into a neighborhood shopping center with a grocery store anchor, some shops and pads.…

By Roland Murphy for AZBEX After canceling plans to build $550M hydrogen production hub in Buckeye last year, site owner Fortescue Future Industries is asking the City of Buckeye to eliminate one stipulation and modify two others attached to the rezoning of approximately 158 acres of the plant site. Materials accompanying the submittal variously refer to the property as approximately 158 acres in some sections and 157 acres in others. For consistency’s sake, we will use 158. Submitted materials and staff analysis say the 158 acres and the overall 920-acre site that surrounds it could eventually be used for an…

Yuma City Council met Feb. 4 to consider an ordinance that would authorize the local housing authority to buy 7.64 acres at 221 E. 26th Pl. to advance the development and operation of Vista Apartments—a 200-unit, three-phase affordable multifamily community. Council will take final action on the proposed ordinance Feb. 18. Yuma will not have a financial obligation in buying the former Vista Alternative High School site or in developing the apartment plan. Under the ordinance, the Housing Authority of the City of Yuma will act as the City’s agent to build, maintain and manage the City’s housing projects but…

Sunbelt Investment Holdings Inc. is purchasing 272 acres of land in Buckeye from the Arizona State Land Department for $62.5M. Bids started at nearly $42.1M, with SIHI ultimately being the last bidder standing. Sunbelt VP Brooks Griffith said the land is “one of the last significant mixed-use commercial land sites along the I-10 West corridor.” Sunbelt also owns two sites adjacent to the property. One sits to the north, while the other is toward the south. Collectively, the land totals 375 acres. While specific details have yet to be announced, the company said it is considering a variety of uses…

Giving Back 1. The PENTA Building Group has wrapped up its 19th annual Safety Kick-Off. The tour engaged thousands of construction experts and hosted a wide array of safety vendors. PENTA made stops at venues in Scottsdale, Anaheim and Rohnert Park, Calif., and Henderson, Nev. Boards & Commissions 2. Benjamin Bitter, City Manager for the City of Maricopa, was elected President of the Arizona City/County Management Association, a statewide organization supporting professional local government managers. Bitter began his term this month and will serve as President through January 2027, followed by an additional year on the board as Past President…

Sales Transactions 1. Principal Financial Group acquired Biltmore at Camelback, a 270-unit multifamily property in Phoenix, from Heitman for $97.3M. Heitman purchased the four-story community in 2014 for $74.75M. The property was built in 2013 and features units ranging from 628SF to 1.1KSF. 2. Southern Arizona Logistics Center Building #2, a 435KSF industrial facility in Marana, sold for $50.46M in an investment sale to lease. ET Marana V LLC, an affiliate of ElmTree Funds, purchased the concrete tilt-up warehouse at 10070 W. Clark Farm Blvd. from Southern Arizona Logistics Center LLC, an affiliate of Flint Development. The building sits on…

By Roland Murphy for AZBEX The dominant theme and mood for the Arizona construction market heading into 2025 was uncertainty. Major changes in federal policies, expected shifts in population growth, nearly every economic indicator up in the air, increases in organized resistance to projects and a range of other trend factors made forecasting the sector’s direction in the year ahead as much an exercise in prognostication as informed projection. A new theme emerged in preparing for the 2026 BEX Construction Activity Forecast Event: Resilience. Since the collapse of the Great Recession, the construction market in general—and the Arizona construction market…

State Representative Chris Lopez says he wants to increase private investment and modernize infrastructure in Pinal County and across Arizona. Lopez is a leading proponent of House Bill 2824, which would establish a Commercial Property Assessed Capital Expenditure Program in the state. C-PACE lets local governments provide financing for commercial and industrial properties to let property owners improve resiliency and resource efficiency and fund upgrades to infrastructure. The program relies on private investment. Local governments would establish voluntary assessment agreements with property owners and determine improvements eligible for financing. These could include investments in energy systems, water/wastewater infrastructure, logistics development,…

By BEX Staff for AZBEX Developer Dominium has acquired the site for its planned 400-unit affordable housing multifamily development in Goodyear. The acquisition price for the nearly 17-acre site near the SEC of Lower Buckeye Road and Bullard Avenue was not disclosed. Media reports note Dominium’s partners in the development of Vivir at Ballpark Village reportedly include Freddie Mac, Capital One, U.S. Bank, Barclays and the Arizona Industrial Development Authority. The company has not disclosed expected project costs or a timeline. Updates in the DATABEX project database show a civil permit was filed in December 2025 and was still in…

A bill introduced for consideration in the Arizona State Legislature could provide millions of dollars in tax incentives to encourage affordable housing development in rural counties. Rep. Teresa Martinez’s House Bill 2804 would create a state tax credit program similar to the federal Low-Income Housing Tax Credit. Projects would be limited to those in counties with populations of fewer than 800,000 residents. Maricopa and Pima counties would be excluded. The proposition would allocate a maximum of $2M in annual credits between 2026 and 2036 to help finance new developments. Those credits could go toward income taxes or insurance premium taxes.…