Author: BEX Staff

Developer Park West Partners has proposed The Shops at Rio Verde—a commercial development planned on approximately 17 net acres at 174th Street and Rio Verde Drive in the unincorporated community of Rio Verde. Plans call for a center anchored by a 52.2KSF grocery store with other small commercial buildings that could feature restaurants, salons and other services, and medical offices. Because of the remote and rural character of the area, located approximately 10 miles from the nearest retail services, commercial development has traditionally been discouraged. The area has seen increased population growth in recent years, however, adding to the desire…

SimonCRE and Carefree Partners have formed a joint venture to develop part of the master-planned Surprise City Center. The JV will develop an initial 70KSF of retail and restaurant space to be followed in the future with office, ground floor retail, apartments and entertainment outlets on between 30 and 40 acres. The initial $35M development has already secured several tenants, mostly restaurants, and approximately 35KSF of the space is under lease or has commitments in place even though construction has not yet begun. Construction of the first phase is expected to commence in Q3, with delivery expected in approximately a…

By Roland Murphy for AZBEX Earlier this month, the Surprise Planning and Zoning Commission voted to recommend a rezoning approval for an approximately 12.9-acre site at the NWC of Cotton Lane and Cactus Road. City Council followed the recommendation and approved the rezoning on June 20. Developer NexMetro Communities requested the rezoning from Regional Commercial to High Density Residential so it can build Avilla Foothills, a 108-unit Build-to-Rent community. NexMetro is a major regional and national developer in the Build-to-Rent sector. The DATABEX project database shows the company has completed eight projects under the Avilla brand and has another eight—not…

By Thompson Thrift Thompson Thrift has announced the development of Stella, a 308-unit, Class A multifamily community in the Phoenix suburb of San Tan Valley. Thompson Thrift plans to begin construction in June and welcome new residents beginning in late 2024. Located on a 20-acre site near North Gary Road and West Hunt Highway, Stella will consist of 12 two- and three-story buildings, a resort-style swimming pool with adjacent lawn and outdoor pavilion, two pickleball courts, two dog parks and gardens with fruit trees and fountains. The community will offer one-, two- and three-bedroom apartment homes and residents will be…

By City of Phoenix The City of Phoenix Aviation Department is the recipient of a $10M Rebuilding American Infrastructure with Sustainability and Equity grant. The funding will be used to create a Cultural Corridor that reconnects disadvantaged and underserved communities adjacent to Phoenix Sky Harbor International Airport with Downtown Phoenix. The PHX Cultural Corridor project was created as part of the PHX Land Reuse Strategy. The City of Phoenix Aviation Department in conjunction with community organizations, neighborhoods and other stakeholders developed a strategy that could help accelerate the redevelopment of Airport-owned parcels west of the Airport. The main goals include…

Giving Back 1. The Rosendin Foundation sponsored a free construction camp for 16 middle school students at its regional office in Tempe. From June 19-23, TRF Camp Build aimed to empower students to experience the excitement of hands-on building and gain new insights into the construction industry. The free camp offered attending 7th-9th graders hands-on experience using power tools, building their own lamps and engaging in roofing and framing activities. The camp culminated in the construction of doghouses, which were then donated to a local non-profit. 2. The Arizona Builders Alliance is accepting donations for its annual ABA Backpack Drive…

Sales Transactions 1. Wood Partners has sold the 330-unit Alta Raintree apartment development in Scottsdale to The Connor Group for $141.5M. The community will now be known as The Aston Scottsdale. 2. Garrett Development Corp. has sold two self-storage centers—one in Mesa and one in Cave Creek—totaling 1,620 units and 160.5KSF to Buchanan Street Partners LP for $41M. The buyer was assisted by Nick Walker and Walter Brauer of CBRE Group Inc. in the acquisition. 3. Six Old Town Scottsdale properties owned by Pan Am Equities have been sold to Old Town Waterfront LLC for $36M. The motel, retail and…

WhiteHaven and Hibernia Capital Advisors are planning a two-story, 45KSF office building south of several existing projects at The Grove master project at 44th Street and Camelback in Phoenix. WhiteHaven had initially tried to take office space in The Grove at 44th Street & Camelback Road, itself, but was unsuccessful. Hibernia Capital was the developer of the site’s indoor self-storage project, which sits directly north of the newly planned office site. The partners are now attempting to raise $13.8M for the new development. An initial investment round has raised $7M. WhiteHaven plans to purchase the land from Hibernia Capital after…

Gov. Katie Hobbs has signed House Bill 2809 into law following its approval by the Arizona Legislature. The act increases the amount of money the state can return to cities for public infrastructure expenditures in support of a qualifying manufacturing facility. The update increases the maximum reimbursement amount from its previous cap of $100M to $200M. The program was originally created 10 years ago to let cities recoup up to 80% of their costs for public infrastructure improvements associated with new manufacturing facilities. This is the second increase in the program. Last year, the Legislature raised the amount from $50M…

By Roland Murphy for AZBEX The Prescott Planning and Zoning Commission had planned a June 8 site plan review for South Ranch Rentals, a proposed multifamily development from Great Street Co. that would deliver 223 units on 23.5 acres at the NWC of Willow Creek Road/Deep Well Ranch Road and Pioneer Parkway. That review has been rescheduled for June 29. The project area is part of the 1,800-acre Deep Well Ranch Master Plan area at the NWC of Highway 89 and the 89A Interchange. According to the staff report accompanying the proposal, “The development agreement with Deep Well ranch requires…