Author: BEX Staff

The Biden Administration has designated Phoenix as one of five “workforce hubs” to develop skilled workers in advanced manufacturing operations like semiconductors, electric vehicles and renewable energy. The other hubs are Columbus, Ohio; Pittsburgh, Pennsylvania; Baltimore and Augusta, Georgia. Phoenix was selected due to the area’s strength of public and private investments in semiconductor technology, mineral and battery manufacturing and optical cable. Leading representative projects include the Taiwan Semiconductor Manufacturing Company plant in north Phoenix, Intel’s $20B Chandler expansion and LG Energy Solution’s planned $5.5B battery facility in Queen Creek. The administration plans to work with local officials, education providers,…

By Roland Murphy for AZBEX Carefree Partners is adding to its growing list of planned projects in the West Valley with the recent rezoning of nearly 62 acres in Buckeye for a future light industrial site. The Buckeye City Council approved a request to rezone the “property fronting onto Arizona State Route 85 (SR85) and just south of Maricopa County Road 85 (MC85) in western Buckeye,” from Rural Residential to Light Industrial in its May 16 meeting. While Carefree Partners has no immediate plan to start construction and has not provided any timelines, a preliminary site plan shows four buildings…

Phoenix City Council voted unanimously last week to approve zoning for Home at Happy Valley, a 226-unit apartment community planned for 7.8 acres at Happy Valley Road and 17th Avenue. The proposal had drawn opposition from some nearby residents, primarily because of its density and concerns about potential traffic impacts. After several meetings with neighbors, developer Shelter Asset Management reduced the unit count from an originally planned 280 units down to 226, added a buffer sidewalk on 17th Avenue and agreed to limit traffic on 17th Avenue as well. While no rental rate estimates have been provided, project representatives have…

Negotiations are ongoing between Governor Katie Hobbs and Republican Arizona legislators in an attempt to send a renewal of the Proposition 400 half-cent transportation sales tax to Maricopa County voters. Despite unanimous support from all 32 agencies in the Maricopa Association of Governments, former Gov. Doug Ducey vetoed legislation last year that would have put the renewal on the ballot, saying it amounted to a tax increase and did not provide sufficient focus on road projects, among other objections. Various attempts to both crush the tax as it currently operates and to renew it largely have both languished ever since.…

Giving Back 1. AireBeam presented a check for $5K to the Arizona City Fire District to support community events throughout the year, starting with their Summer Water and Safety Days. Summer Water and Safety Days are put on by the fire district to encourage young people in Arizona City to beat the heat by participating in water activities while also learning crucial safety techniques. Awards & Accolades 2. The National Apartment Association has announced MEB Management Services as a winner of the 2023 NAA Top Employers Awards, which recognize organizations that foster cultures of collaboration, innovation and hard work. The…

Sales Transactions 1. Cushman & Wakefield announced the firm has advised the sale of University Logistics Park, an 86.4KSF multi-tenant industrial project at 730 E. University Drive and 2440 S. 8th Place in Phoenix. The two-building park was fully leased at the close of escrow. Stonelake Capital Partners acquired the property for $18.1M from 20 Mule Team Holdings LLC. Cushman & Wakefield’s Phil Haenel and Foster Bundy represented both parties. The firm’s Mike Haenel and Andy Markham also provided leasing advisory. 2. Marcus & Millichap Inc. negotiated the $6.25M sale of Urbana at Glenrosa, a 22-unit apartment community at 4250…

By Maricopa County The Maricopa County Board of Supervisors has approved $6M in American Rescue Plan Act funding for the construction of a new affordable housing community in Phoenix. The development, known as Bret Tarver Terrace, will be located at 3101 W. McDowell Road. The community is named after fallen Phoenix firefighter Bret Tarver who perished on duty while fighting a fire at a shopping center in 2001. The new community will have a total of 96 units, including 32 one-bedroom units, 32 two-bedroom units, and 32 three-bedroom units. UMOM Helping Hands Housing Services, a local non-profit organization, will develop…

By Roland Murphy for AZBEX Liv Communities and Vintage Partners have submitted pre-application materials to the City of Phoenix for a plan to develop nearly 21 acres at the NWC of 59th Avenue and Elliot Road with a mixed-use development of 362 multifamily units on 17.72 gross acres and supporting commercial uses on 3.27 gross acres. The partners plan to request height and density waivers for rezoning, as well as a General Plan amendment to allow the development to proceed. According to the pre-application narrative, the multifamily component will include single-story amenity buildings and residential buildings of two- and three-stories…

By Roland Murphy for AZBEX (BEXCLUSIVE) The Prescott Valley Planning and Zoning Commission will consider two proposals in its June 12 meeting that will, if approved and built as planned, deliver 385 rental homes and 90 new hotel rooms to the community’s inventory. Villas at Prescott Valley Developer Trilogy Investment Co. wants to build Villas at Prescott Valley, a 385-unit “condo-like rental community” planned for roughly 33 acres at the NWC of Market Street and Great Western Drive, according to the staff report accompanying the proposal. The site lies roughly a quarter mile north of SR 69. Building heights are…

Friction has arisen between the City of Prescott and Prescott Frontier Days, Inc. over a $40M master-planned renovation project for the Prescott Rodeo Grounds. The rodeo grounds is the site of the City’s “World’s Oldest Rodeo” event, a major tourism event held every July. The State of Arizona announced in its upcoming budget that it had allocated $15.3M for improvements to the facility. While Frontier Days had presented the $40M master plan to City officials in an information and study session in March, officials, including Mayor Phil Goode, said they were unaware the property manager had requested state funds. Goode…