Author: BEX Staff

By BEX Staff for AZBEX By a vote of 5-2, the Yuma City Council has again approved rezoning from Agricultural to Medium-density Residential for an approximately seven-acre site at 24th Street and Avenue 9E. Under the current request, developer Saguaro Desert Land (Hall’s General Contractors) wants to build an 84-unit multifamily development on the site. Council had previously approved a rezoning request in 2016. Resident opposition led to a voter referendum that nullified the approval later the same year. After the initial rezoning was overturned, a new request was submitted in 2018 to build workforce attainable apartments. Because the request…

By Roland Murphy for AZBEX A trio of rezonings and a General Plan amendment request coming before the Casa Grande Planning and Zoning Commission this week could, if approved and built as planned, deliver a total of 808 new residential units and a small volume of new retail to the city. According to the accompanying staff report, developer Innovation Communities has requested: A minor General Plan amendment from Neighborhoods to Community Corridor for 30.1 acres near the SEC of Rodeo and Pueblo roads, Rezoning from Planned Area Development (Medium Density and Low Density) to PAD (Medium Density) for Innovation Villas…

Scottsdale’s proposed $2.54B Fiscal Year 2023-2024 budget includes $1.376B for capital improvements covering a total of 385 projects. The remainder breaks down to $739.1M for the operating budget and grants and $425.3M for contingencies and reserves. City revenues are planned at slightly more than $2B, while expenses are set at $2.54B. Scottsdale has $964M in budget carryovers that more than make up for the difference. The capital improvement budget is divided into seven project categories: Drainage and Flood Control: $708M, Water and Sewer: $449.8M, Transportation: $437.9M, Community Facilities: $140M, Service Facilities: $139.2M, Public Safety: $100.6M, and McDowell Sonoran Preserve: $38.1M. …

By Roland Murphy for AZBEX Arizona’s seasonally adjusted unemployment rate decreased to 3.5% in March, down from 3.7% in February, according to the latest report published by the Arizona Office of Economic Opportunity. The national rate decreased to 3.5% from 3.6%. In March 2022, the state had a seasonally adjusted rate of 3.6%, as did the national rate. While Construction gained 1,500 employees in March, the state had a loss of 9,800 non-farm jobs. “Prior to the pandemic (2010-2019), NSA nonfarm employment gained an average of 10,800 jobs in March,” the report states. Manufacturing gained 1,800 jobs for the month…

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…