Author: BEX Staff

By Roland Murphy for AZBEX The ease of transportation for both people and cargo is a primary driver for economic development and sustained quality of life for any area. While Arizonans in general and Greater Phoenicians in particular often complain about commute times, data from Best Places show the metro area’s average commute of 25.4 minutes is right on par with the national average of 26.4 minutes. The quality and flexibility of Maricopa County’s transportation infrastructure is the primary contributor to keeping that commute time manageable, particularly given the fact that the state’s population has swelled from 1.78 million in…

By Roland Murphy for AZBEX Gov. Doug Ducey’s July 6 veto of a bill that would have sent an extension of the Proposition 400 half-cent sales tax – a major funding source for Maricopa County transportation projects since 1985 – caught nearly everyone but the Governor, himself, by surprise. As we noted in our recent article on the ripple effects of impacts already being felt on the State Route 30 – Tres Rios freeway Project in the West Valley, HB 2685 was passed at the end of the Arizona State Legislature’s regular session and would have sent the tax extension…

Progress Reports 1. A new Nike store is partway through construction at Tempe Marketplace. The $1.6M tenant/landlord improvement project will combine 2.5 suites into one and replace portions of the existing storefront, among other changes. 2. Moontower – 24-story residential tower at 811 N. 3rd St. in Phoenix, recently held a topping out ceremony. The 452.5KSF, 326-unit tower is expected to deliver in the spring. Completions 3. A.R. Mays Construction announced it officially delivered the new Towne Storage – Southern in Phoenix in August. The 102.3KSF two-story self-storage facility features 711 interior and exterior accessed climate-controlled storage units, rental office…

By Arizona Department of Transportation The Arizona Department of Transportation is seeking public input on the latest update to its State Freight Plan, which identifies future improvements to the state’s transportation system that are critical to economic activity. The plan will help ADOT ensure the state’s freight system remains strong by providing an action plan to guide decisions and investments that support a safe, efficient, coordinated and reliable freight system for moving goods in and through Arizona. It serves as the guiding document for freight-related decision making by providing an overview of historical conditions, forecasting existing and emerging trends, and…

Plans by The New Home Company and Davis Development to build a mixed residential and retail project on 79.71 acres at the NWC of Power and Williams Field roads in Gilbert encountered opposition in a recent study session with the Town Planning Commission. The master-planned project features 851 apartments, 238 duplexes and single-family residences and nearly 105KSF of retail space. The developers have requested a General Plan amendment and rezoning for the site, as well as several deviations for building height, separations, open space and other issues. Planners were bothered several aspects of the project, including the reducing depth separations…

MODERNE Communities has bought 14 acres in the Gladden master-planned community in Marana for $4.35M. The developer plans to build MODERNE at Gladden Farms, a 182-unit Build-to-Rent community, on the site. The seller was Gladden Phase II, LLC. MODERNE was represented by in the purchase by Will White of Land Advisors Organization. Plans for the new BTR development call for one-, two- and three-bedroom units of between 839SF and 1,565SF. Amenities will include a clubhouse and fitness center, pool, electric vehicle charging stations, barbeque areas and pocket parks. MODERNE Communities hope to being construction sometime next year. (Source)

In finalizing a new income averaging rule for the Low-Income Housing Tax Credit last week, The U.S. Treasury Department may qualify more affordable housing developments. The income-averaging rule provides for a more broad mix of income levels for residents in qualifying projects. Previously, projects that qualified for LIHTC credits had to designate either a minimum of 20% of a development’s units to residents earning 50% or less of the Area Median Income or 40% of the units to 60% of the AMI. Under the revision, projects can qualify using an average of income levels instead of setting fixed limits as…

By Rebekah Morris for AZBEX The FY 2023 – 2027 Capital Improvement Program for Valley Metro continues to show declines in the five-year total. This year’s total comes in at $1.009B – the third year in a row the capital program shows a decline, as noted in the table. The decline is due to major capital projects wrapping up without new ones being added behind them. Unlike municipalities – which typically have expansion projects added to their CIP every year – Valley Metro’s projects are longer-range and have mostly been announced and contracted. Shift from Expansion to Maintenance The first…

By Roland Murphy for AZBEX While normally regarded as one of Arizona’s more pro-economic development and infrastructure governors, Governor Doug Ducey’s July veto of a bill that would have sent an extension of the Proposition 400 half-cent sales tax – a major funding source for Maricopa County transportation projects since 1985 – has already caused delays and ripple effects for major projects deemed essential for the county’s progress. After years of planning and extensive negotiations between the Maricopa Association of Governments, regional leaders and the Arizona State Legislature, HB 2685 was passed in the most recent legislative session. The bill…

By Macerich Macerich has announced the next phase of ongoing reinvestment in Scottsdale Fashion Square. Plans include an extensive interior and exterior renovation of the South Wing, building on the successful first phase that launched the property’s Luxury Wing in 2018. Macerich’s “properties with purpose” mean properties with more uses for more people: New, complementary uses coming soon to Scottsdale Fashion Square include high-end fitness + wellness destination Life Time Scottsdale and the new Caesars Republic Scottsdale boutique hotel. The latest announcement also marks the end of the 60th anniversary of Scottsdale Fashion Square. The next phase of the project…