Author: BEX Staff

By BEX Staff for AZBEX Representatives of LG Energy Solution have confirmed the company has not yet reached a decision on whether or how to proceed with its planned cylindrical battery production facility in Queen Creek. In response to an inquiry from the Queen Creek Independent, communications officials with LGES said they were still in the process of reviewing the company’s investment and that no new decision has been made. AZBEX was the first outlet to report the story of the development agreement between LGES, the Town of Queen Creek and Pinal County in March 2022. Under the agreement, LGES…

El Dorado Holdings Inc. has bought two parcels in Florence totaling 4,150 acres for a total of $82.7M. The company intends to develop a master-planned community with 12,000 homes and industrial, commercial and retail components. EDH bought the property from Southwest Value Partners and GTIS. Nate Nathan, David Mullard and Casey Christensen of Nathan & Associates, Inc. represented both parties. Estimated development and infrastructure costs for Merrill Ranch are expected to be between $600M and $700M. El Dorado Holdings representatives said the Florence area’s growth as an employment region and the site’s relative proximity to Phoenix-Mesa-Gateway Airport in Mesa contributed…

By BEX Staff for AZBEX Gov. Katie Hobbs has announced Jennifer Toth as her pick to serve as Director of the Department of Transportation. Toth will replace John Halikowski in the role. Halikowski announced his retirement last week. The announcement of Toth as the new ADOT director was part of a press release with four new or ongoing leadership appointments. The Governor’s Office has issued several such announcements leading up to and since Hobb’s swearing in as she goes about filling the various leadership roles in her administration. The release cites Toth’s biography and credentials as: “Jennifer has 25 years…

By Roland Murphy for AZBEX Casa Grande Mayor Craig McFarland informed City Council last week that a hoped for $360M in federal Mega grant monies to partially fund the widening of I-10 between Casa Grande and Chandler was not going to happen. The Arizona Legislature approved $400M for the expansion in 2022. The Mega grant through the Department of Transportation would have provided much of the additional funding needed had it been approved. The project will add one lane in each direction on the freeway and add new interchanges. With the additional grant funding, officials had hoped to be able…

By Roland Murphy for AZBEX Alliance Residential Company has turned in an initial submittal to the City of Phoenix for a 299-unit multifamily development on 4.9 acres at 30 N. 56th Street. The site lies midway between Van Buren and Washington streets. The site for Broadstone 56 is comprised of five adjacent parcels zoned Intermediate Commercial. The request seeks to consolidate and rezone them as a Planned Unit Development. Surrounding uses are mostly industrial and commercial offices. The submittal notes that while the site is not within the City’s designated infill district, it is an infill site in an area…

A three-story U-Haul Moving and Storage facility proposed for the SEC of Ocotillo and Crismon roads has had a conditional use permit and site plan approval request approved by the Queen Creek Planning and Zoning Commission. This will be the third large U-Haul facility in Queen Creek. The main structure’s proposed build area is 122.3KSF, with a footprint of 22.2KSF. There will also be two single-story buildings totaling approximately 5KSF. The main building will have a showroom, a supply area and 1,078 individual storage lockers. The proposal now moves on to the Queen Creek Town Council for approval. (Source) 

By Associated Builders and Contractors The construction industry added 28,000 jobs on net in December, according to an Associated Builders and Contractors analysis of data released today by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has risen by 231,000 jobs or 3.1%. Nonresidential construction employment increased by 17,900 positions on net, with growth in all three subcategories. Nonresidential specialty trade contractors added 10,200 net new jobs, while nonresidential building and heavy and civil engineering added 5,800 and 1,900 jobs, respectively. The construction unemployment rate rose to 4.4% in December. Unemployment across all industries declined from…

Giving Back 1. The International Facilities Management Association Greater Phoenix Chapter launched a new community in September to bridge the gap between active-duty military and veterans with facility management-specific skills and the facility management profession. Volunteer positions in the program include: Advocate: One person from each component who will work with leadership to facilitate the recruitment and retention of military veterans; the Wingman: a member with prior military service who will be connected with each new military or veteran member; and the Liaison: a person who will be a link between their component and the military community.  Boards & Commissions …

Sales Transactions 1. PaulsCorp has sold three Phoenix area apartments to Tides Equities. No financial details were disclosed in the announcement by Colliers in Arizona, but CoStar reported a transaction volume of $95M. The properties were:  Red Sage, 156 units, Phoenix; The Perry, 148 units, Glendale; Serena Park, 141 units, Glendale. PaulsCorp was represented by Brad Cooke, Cindy Cooke, Matt Roach and Chris Roach of Colliers in Arizona. 2. Taylor Street Advisors announced the $11M sale of Aspen Cove Apartments, a 59-unit garden-style community in Payson. The seller was a private investment group, and the buyer was a 1031 Exchange…

Clayco Realty Group is planning a 343-unit, 5.9-acre multifamily development at 1035 E. Curry Road, north of the Loop 202 freeway in Tempe. Amenities at Curry Road Apartments could include a pool, fitness center, co-working lounge and outdoor community spaces. CRG is requesting a zoning map amendment, General Plan density map amendment, Planned Area Development overlay, use permit and development plan review. The Tempe Development Review Commission will hear the proposal Jan. 10. ESG Architecture and Design is the architect, and the project is represented by Gammage & Burnham. If approved by the DRC and City Council, CRG hopes to…