Author: BEX Staff

Aspirant Development is planning a 25-story multifamily tower at 1500 N. Central Ave. in Phoenix. The location at Central and McDowell Road is near the Phoenix Art Museum and the Burton Barr Central Library. The site is also located on the Central Avenue light rail line. Plans call for 320 units with one- and two-bedroom apartments and 3KSF of ground floor retail. There will be approximately 17KSF of additional retail/restaurant space in separate buildings. The property’s current zoning allows for the planned use, and no public hearing will be required. Aspirant officials said the company is working through the design…

The Phoenix City Council will vote this week on a development agreement and incentive package that will enable cancer detection company Exact Sciences Corporation to build a 250KSF lab, office, manufacturing and warehouse space at the NEC of Sky Harbor Circle North and Buckeye Road. Exact Sciences plans to lease approximately 17 acres at the 35-acre Sky Harbor Center. The expansion is expected to create more than 800 jobs and create a 10-year direct revenue benefit of more than $21.5M, according to Phoenix documents. The agreements under consideration include an incentives package with a job creation reimbursement of up to…

Exceptional Healthcare is proposing a new 20KSF hospital and healthcare facility in Eloy off Sunshine Blvd. near Interstate 10. The Eloy Planning and Zoning Commission discussed the proposal recently, and Mayor Micah Powell has said he wants the plan fast-tracked so it can be operational in 12-18 months. The proposed facility would feature a specialty internal medicine hospital, emergency department and imaging suite. There would be eight-to-10 private rooms and a heliport for transporting patients who needed more immediate or extensive care. (Source)

By Roland Murphy for AZBEX – BEXCLUSIVE Phoenix’s inventory of affordable apartments could increase by another 40 units under a plan proposed in the Sunnyslope area by developer Resilient Health. The developer is planning Resilient Living at Sunnyslope on 1.04 acres near the SEC of Sahuaro Drive and 19th Avenue. According to the submitted narrative, “The Applicant intends to rezone the property from R-3 (Multifamily Residence) to PUD (Planned Unit Development) to allow for an affordable housing development on the Property. See the purpose of the requested rezoning to PUD is to allow for a quality affordable multifamily development that…

Arizona State University plans to build an 80KSF library facility honoring the late Arizona U.S. Senator John McCain on a 22.5-acre site it owns near Mill Avenue and Curry Road in Tempe. The McCain National Library at Arizona State University will include archives of McCain’s papers from his more than 35-year career representing the state. There will also be a visitor’s center and an Arizona office for the McCain Institute, which is based in Washington, D.C. ASU plans to work with the Arizona Governor’s Office, McCain’s family and other community leaders on the design and construction. In remarks last week,…

Geston Duffy Company is proposing a mixed-use community with 136 apartments and 20 office units near Wilson Avenue and Edison Road in Maricopa. Pre-submittal documents filed with the City for Sonoran Village show apartments with floorplans ranging from studios to three-bedroom units. The office spaces will range from 600SF-900SF and will be located on the ground floors of the three planned buildings. No hearing or other meeting dates have been set to discuss the proposal. (Source)

Giving Back 1. Dominium announced the recipients of the 2023 Opportunity’s Front Door Scholarship Program. Awards were issued to 284 students who received scholarships of $5K each totaling $1.4M for the 2023-2024 academic year. 2. SDB Contracting Services will host its 15th annual Golf Classic on Oct. 13 to benefit Disabled American Veterans of Arizona. More than $110K is expected from this year’s event, and more than $530K has been raised from past events to date. Company News 3. Milan, Italy-based design firm Libeskind Studio Design has opened its first U.S. office in a 1,500SF space at 829 First Ave.…

Sales Transactions 1. Dynamic City Capital has paid nearly $102M for the 177-room Canopy by Hilton Scottsdale Old Town hotel. The seller was Global Miller Properties. 2. King Ranch an 1,864-acre master-planned community in Goodyear, sold for $22M. Harvard Investments purchased the property from HE Capital KR LLC. 3. VCI Development sold Via Alamos Apartments, a 160-unit apartment complex in Green Valley, to SubTo Fund for $19.5M. Both the buyer and seller were represented by ABI Multifamily. 4. Cushman & Wakefield brokered the sale of the 107-room Fairfield Inn & Suites by Marriott hotel for $18M in Phoenix to Moonstar…

By Roland Murphy for AZBEX Arizona’s seasonally adjusted unemployment rate increased to 3.8% in August, up from 3.6% for the month of July, according to the latest report published by the Arizona Office of Economic Opportunity. The national unemployment rate increased to 3.8% from 3.5%. In August 2022, Arizona had a seasonally adjusted rate of 4.0%, while the national rate was 3.7%. The Construction sector reported job gains of 3,900 around the state. Arizona had a gain of 49,700 jobs in nonfarm employment for the month. “Prior to the pandemic (2010-2019), NSA nonfarm employment gained 54,000 jobs on average in…

By BEX Staff for AZBEX The Queen Creek Planning and Zoning Commission has recommended rezonings for two properties for the development of Elanto at Queen Creek—a proposed 320-unit rental community. The larger, 128.9-acre “Elanto” parcel sits at the NEC of Meridian and Queen Creek roads, while the smaller, 20-acre “Downzone” site is south of the SWC of Ironwood and Germann Road. “… the applicant requests to rezone the Downzone Property from High Density Residential (HDR) to Planned Area Development (PAD) with underlying Medium Density Residential (MDR); and, the Elanto Property from R1-5 and C-2 to Planned Area Development (PAD) with…