Author: BEX Staff

The City of Surprise plans to break ground in early Fall 2023 on Heritage Senior Apartments, a 99-unit low-income senior housing development in the Original Town Site. The $23M development is expected for completion by December 2024. The 2.54-acre site is located to the south of the existing 100-unit low-income Heritage at Surprise Apartments and next to the Multi-Generational Community Resource Center, which is planned to open in 2025. Heritage Senior Apartments has received significant grant funding. In what was reported to be the largest award under the program, it received $9.1M under a federal Housing and Urban Development 202…

By RED Development and Life Time RED Development announced Life Time will join PV, the more than 100-acre redevelopment of the former Paradise Valley Mall, with a first-to-market, fully integrated concept consisting of an athletic country club and luxury-for-lease residences slated to open in 2026. Life Time debuted its Life Time Living concept in 2021 in Coral Gables, Fla. and connects residents’ at-home and wellness lifestyles to make healthy living easy and fun with functional space design, amenities and high-end living and convenience. The planned 11-story Life Time Living Paradise Valley will include more than 300 luxury residential units for…

By National Multifamily Housing Council The March edition of the NMHC Quarterly Survey of Apartment Construction & Development Activity once again found small improvements in terms of more limited price increases, slightly fewer construction delays and some easing in the labor market. However, while costs and delays may be falling from their post-pandemic peaks, they remain substantial headwinds to the creation of badly needed housing—particularly at low and middle-income price points. Construction delays remain common, with 79% of respondents reporting delays, but that is better than 84% in December, 90% in September and 97 % in June 2022. Notably, respondents…

Awards & Accolades 1. The Vantage Data Centers development by McCarthy Building Companies in Goodyear has been awarded a STAR Site designation from the Arizona Division of Occupational Safety and Health’s Voluntary Protection Program for “exemplary and comprehensive safety and health management systems.”  Groundbreakings 2. Diversified Partners announced it will break ground April 6 on the 11-acre, $125M Mercy Center development on the SEC of Val Vista Drive and East Mercy Road. Project components include a two-story retail, restaurant and office space, a two-story flagship Starbucks, a regional headquarters for Bell Bank in a three-story bank building, a five-story Residence…

By Roland Murphy for AZBEX The Blazin’ M Ranch resort in Cottonwood wants to expand. The Cottonwood Planning and Zoning Commission will meet this week to discuss a General Plan land use amendment and zoning change for an approximately 8.3-acre site on Mabery Ranch Road where owner Mabery Ranch Company LLC hopes to expand the existing Blazin’ M Western Ranch Frontier Town on the NEC of the property and create “a luxury 1800’s Western-themed resort providing a variety of accommodation options. The applicant has hired a Hollywood set designer and set decorator to provide design details that will provide an…

By BEX Staff for AZBEX EVelution Energy wants to build North America’s first cobalt processing plant in Yuma County. The Arizona Republic reported that earlier this month, the Yuma County Board of Supervisors unanimously approved a special-use permit request that will allow the company to build the facility on 138 acres between Tacna and Dateland. According to the submitted site plans, the estimated footprint for the facility will be 130KSF. The article also cites an economic assessment from the Greater Yuma Economic Development Corporation that the operation can generate up to $300M related to the development, construction, infrastructure improvements and…

The Tempe City Council and the Coalition for Affordable Housing met last week to discuss the current state of housing and affordability in the city. The Coalition was created in 2018 to identify, procure and manage affordable housing opportunities. It currently controls nearly $10M in assets. Most units were bought with federal grants, but others were donated by Tempe. It currently owns 55 rental units and is experiencing a 94% occupancy rate, according to the presentation from Coalition Board of Directors President Irma Hollamby Cain. Six units are in use by partner agencies and five are undergoing rehabilitation. Cain reported…

By Roland Murphy for AZBEX A new 25-story, 453-unit multifamily tower could soon be added to the Tempe skyline. Co-developers CA Ventures/Wexford Development have requested a Planned Area Development overlay to modify height development standards, a tandem parking use permit and a development plan review for 16 East University, a project proposed on 0.67 acres east of the NEC of University Drive and Mill Avenue. The 270-foot tower would also provide 3.8KSF of commercial space. The Tempe Development Review Commission will act this week on the parking request and make recommendations on the PAD overlay and development plan review to…

By Arizona Commerce Authority LG Energy Solution has announced it will invest a total of $5.5B to build a battery manufacturing complex in Queen Creek. The complex will consist of two manufacturing facilities – one for cylindrical batteries for electric vehicles and another for lithium iron phosphate pouch-type batteries for energy storage systems. The investment represents the largest single investment ever for a stand-alone battery manufacturing facility in North America. “With this historic investment from LGES, Arizona has become the battery manufacturing capital of the country,” said Governor Katie Hobbs. “These Arizona-made batteries will power green, sustainable technologies around the…

A bill by Sen. T.J. Shope, R-Coolidge would put $8M into a fund to pay for water infrastructure projects that contribute to job creation in Pinal County. Under the proposed Senate Bill 1223, water services and businesses with more than 250 employees could apply for water infrastructure and commerce grant funds through the Arizona Commerce Authority for new water projects on a business’ property. Lucid Motors officials say it would benefit their company and others and that the legislation continues an existing program for one year so the $8M funds do not lapse. Opponents said the bill was rushed and…