Author: BEX Staff

By Colliers in Arizona Residential developer Porter Kyle has paid slightly more than $2M for 6.23 acres of land at 1003 N. Sarival Avenue in Goodyear. The company plans to build a 100-unit Class A townhome community on the site. The development will feature a mix of one-, two- and three-bedroom units, each featuring two car direct access garages and private yards. Planned amenities include a clubhouse, resort style pool, indoor/outdoor fitness and a resident lounge. Other amenities feature a dog park, children’s play area, and an integrated walking paths for residents. Construction will begin this year and is expected…

The Mohave County Board of Supervisors has ended a proposal to find a new location for the county fairgrounds and has directed staff to develop a master plan for the fairgrounds’ current location. Earlier this year County staff had proposed a Recreation of Public Purposes application to the Bureau of Land Management for 376 acres near Golden Valley. Some Golden Valley residents complained, and members of an ad hoc committee remained focused on the location rather than site amenities. Following the ad hoc committee’s July 18th report to the Board, the decision was made to pursue a master plan for…

Experts from around the Valley – including BEX Companies’ own President and Founder Rebekah Morris – took part in a discussion during WESTMARC’s Economic Development Summit in May to discuss the ongoing labor shortage, its impacts and how the West Valley in particular has taken steps to build the labor pool necessary for growth. David Hickey of Hickey & Associates said countless projects have not executed because there have not been people to build them and that the current environment is more competitive than ever. Morris, who has long supplied data on industry workforce changes and its impacts on projects,…

Housing advocacy group Up for Growth has reported Arizona’s housing underproduction totals 122,683 homes, an increase of 1,377% in the last 10 years. Up for Growth claims its 2022 Housing Underproduction in the United States report is the most detailed analysis of local housing underproduction ever produced. According to the report, housing deficits exist in 47 states and the District of Columbia. In addition to building more housing across the board – both in Arizona and nationwide – the report and an associated publication offer a housing policy framework Up for Growth claims can help policymakers develop tailored solutions for…

Groundbreakings 1. The Arizona Department of Transportation started a $7.2M pavement preservation project on SR 264 near Window Rock on July 18th. Plans include removing the existing surface pavement and replacing it with new asphalt, making spot pavement repairs and restriping the roadway. The work will cover an 11-mile stretch of SR 264 from mileposts 465 to 476 at the New Mexico state line. 2. 55 Resort at McCormick Ranch – a 102-unit 55-plus multifamily property in Scottsdale – broke ground this week. The project is being developed by Edison Equity Management Corp., designed by Synectic Design, and built by W.E.…

Four land purchases over the last year in southeast Mesa suggest Project PIRATE – The Pecos Industrial Rail Access and Train Extension – rail spur may be progressing. PIRATE would connect industrial centers in far east Mesa with an existing Union Pacific line along Rittenhouse Road. Union Pacific paid $14.7M for 41 acres near Pecos and Ellsworth roads last month. In May, the railroad bought six acres near Pecos and Hawes. Late last year, Union Pacific bought approximately 30 acres in the area of Pecos and Sossaman roads. The rail company already had large holdings between Pecos and Rittenhouse. One…

By Associated Builders and Contractors Construction input prices increased 1.9% in June compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics’ Producer Price Index data. Nonresidential construction input prices increased 1.8% for the month. Construction input prices are up 20.1% from a year ago, while nonresidential construction input prices are 20.3% higher. On a monthly basis, input prices were down in four of 11 subcategories in June, with the largest decline registered in the softwood lumber category (-24.8%). All three energy subcategories experienced price increases, with natural gas prices rising…

By Roland Murphy and Rebekah Morris for AZBEX Spiraling inflation costs spurred, in part, by federal stimulus spending intended to boost a U.S. economy stalled by the pandemic and its after-effects is having the unintended consequence of diminishing – and for some projects, negating – the stimulus, itself. Of particular concern is the inflationary pressure those trillions of dollars have triggered – and the impacts of that inflation on long-planned and much-desired infrastructure projects. While some of the various COVID-related spending was focused on accelerating infrastructure project deployments, the hallmark of the Biden Administration’s efforts was the Infrastructure Investment and…

By Roland Murphy for AZBEX A May special report from Northmarq shows the U.S. Build-to-Rent market continues to mature. The paces of building and construction are increasing; performance at existing properties is growing stronger, and there are now more than 500 BTR projects spanning more than 20 states. Completions of single-family rental homes were up 5% in 2021, and starts increased by 20%. “Renters by Choice” continue to be a key demographic, particularly after the market saw increased publicity during the pandemic and its associated drive for less-dense living accommodations. As home prices maintain historically high levels and interest rates…

Now that improvements are underway at Inland Port Arizona, three companies have plans in the works to develop projects on the 2,700-acre site. Earlier this month, the Coolidge Planning and Zoning Commission reviewed three site plan applications at IPAZ. The first plan discussed was from NRS Logistics, a petrochemical and pharmaceutical products distributor focused on semiconductor and elective vehicle production. The company has requested a site plan review and conditional use permit for on-site chemical storage. After extensive questioning and discussion, the Commission approved the requests. Crest Park Ventures has proposed a four-building, 1.5MSF speculative industrial project on 128 acres…