Author: BEX Staff

Giving Back 1. PK Associates and McCarthy Building Companies took part in this year’s American Heart Association Heart Walk. The team landed the #2 spot among participating companies. Together with 15 other teams, participants raised more than $109K. Awards & Accolades 2. The Arizona Association for Economic Development presented its annual Economic Development Distinguished by Excellence Awards during its annual Spring Conference in Tucson last week. Overall, nine EDDE Awards were presented to: Economic Developer of the Year Award – Large Community: Micah Miranda, City of Chandler; Economic Developer of the Year Award – Small Community: Una Wirkebau, City of…

Sales Transactions 1. Arizona Land Consulting announced it has acquired 320 acres adjacent to the Casa Grande Municipal Airport for potential future industrial development. The $12M site was bought in partnership with Casa Grande Martin Road & Scott Drive LLC and has water and sewer lines in place on the property.  2. Pedcor Companies has paid $7.93M for a 10.9-acre, Opportunity Zone site in Buckeye. The location is planned as the site of a 204-unit garden-style apartment development to be known as Springs at Sundance. Pedcor was represented by Will French of Cushman & Wakefield. Seller Watson and I 10…

Development teams are continuing to respond to the undersupplied housing market with efforts to rezone and move multifamily projects forward, despite rising interest rates, rising construction costs, and intensifying neighborhood pushback. Here are the latest roundup of multifamily projects making news: T.K. Stratton of Kinella Capital proposes to build 130 units of Build-for-Rent housing at the northeast corner of Val Vista Drive and Knox Road in Gilbert. The developer is seeking a General Plan Amendment and rezone for the 4-parcel property that is currently owned by the Reber Family. Neighborhood pushback is likely to be intense if gauging from the…

The City of Prescott has announced plans to develop a new 20-acre park located near the corner of Highway 89 and the old Highway 89A corridor. The goal of the Granite Dells Gateway Park is to provide recreational opportunities while also preserving the natural beauty of the Granite Dells area. The planning process is currently underway between the City of Prescott and Kimley-Horn & Associates, Inc. Planned amenities include trails, a shaded gathering area, a 3-acre lake, and a natural play area. There has not yet been a discussion on how they will receive funding for the expected $4M project.…

Vestar continues to develop outdoor retail projects in Arizona with two more planned: one in the Verrado area of Buckeye, and one in the south Phoenix area of Laveen. The Verrado Marketplace in Buckeye near Verrado Way and Interstate 10 entails an expected 500KSF of retail space. This marketplace will be home to many shops and restaurants but nothing specific has been confirmed. It is anticipated to open in fall of 2025. The Laveen Town Center will entail around 400KSF of retail space near 59th Avenue and Dobbins Road. Expected retail for this location includes a movie theater, a large…

By Roland Murphy for AZBEX The scope of a Planned Area Development request in Surprise, coupled with a degree of neighborhood opposition, is raising complications for yet another long-term development project and adding to Surprise’s growing reputation as a municipality where it is difficult to get responsible growth planning done. A proposed major Planned Area Development amendment in Surprise could change 73.8 acres of commercial/institutional area in the Sycamore Farms PAD to multifamily residential. The revision would change the land use plan, development standards and dwelling unit counts for a one-square-mile area bounded by Cactus Road, Sarival Avenue, Peoria Avenue…

The Vistancia master-planned community’s 320-acre commercial and retail destination FIVE NORTH at VISTANCIA is taking shape as the first hot spot in the far North Peoria/West Valley area. Construction of the initial phases is anticipated to begin in early 2024. The initial phases are planned to include a main street restaurant/retail corridor, hospitality, office, healthcare, education, an employment core, and an additional 1,500 luxury mid-to high-density residential units that will reflect the same high-quality and desert-inspired design elements recognized in Vistancia. In addition, an extension of Vistancia’s signature Discovery Trail is planned, offering a linear park connection through the entire property. …

By Rebekah Morris for AZBEX Just four weeks after it was passed, Phoenix City Council repealed a prevailing wage ordinance aimed at construction projects procured by the City. Council members then directed staff with a 7-2 vote to investigate the issue further and return with a new ordinance that was less likely to be challenged in court. Prevailing wage ordinances at a city level would be in direct violation of state statute. In fact, ARS 34-321, section B states: “Agencies and political subdivisions of this state shall not by regulation, ordinance or in any other manner require public works contracts…

Town of Florence and Pinal County are working together to develop the final phase of widening Hunt Highway, along with other infrastructure improvements to improve traffic flow. Pinal plans to continue building the State Route 24 eastward and wants to create a new north-south route connecting SR24 to Florence in the Central Arizona Parkway area. SR 24 currently ends at Ironwood Road. Pinal County has invested $35M in the last five years to improve Hunt highways and Ellsworth Road. Including working on the final phase of widening Hunt Highway to five lanes from Magma Road to Franklin Road. Design is…

Groundbreakings 1. LogistiCenter at Copperwing has commenced construction. The 10MSF industrial property is being developed in El Mirage by a team led by Dermody Properties along with partner Novo Development. Phase I includes two buildings totaling more than 550KSF of Class A logistics space.   2. Legacy at Laveen Village has broken ground. The 172-unit Build-for-Rent project is being developed by Scottsdale Investment Management. The project is located at 35th Ave., just south of Southern Ave. and will be brought to the market in five phases. The first is scheduled to be completed in September 2024.  3. The Arizona Biltmore Golf…