Author: BEX Staff

By Roland Murphy for AZBEX No matter how hot the market, it sometimes takes years for the right mix of vision, team and timing for a project to come together, but a good location will almost always win out. In March of 2007, Phoenix City Council approved a plan for a 23-story, two-tower condominium and hotel development west of the NWC of 11th Street and Van Buren. That 390-unit/260-room project was never started. Now, developer Alliance Residential has submitted an Application for Planning Officer Action to modify stipulations attached to that approval from 15 years ago so it can build…

New data from The Cromford Report shows sellers are dumping listings into the Metro Phoenix housing market at a rate 34% higher than average. In its most recent four-week review, Cromford found 1,845 listings had been added to the Arizona Regional Multiple Listing. The report said the Greater Phoenix housing market is shifting faster than it had seen at any point in the past 22 years, that supply is increasing at the worst possible time and that, “We are seeing the fastest cooling trend that the Greater Phoenix housing market has ever experienced.” The increase in supply comes as demand…

The Pinal County Board of Supervisors has unanimously approved a measure seeking voter approval for a half-cent sales tax to fund the Pinal Regional Transportation Authority on the November ballot. An earlier version of the tax was struck this year by the Arizona Supreme Court. The tax was challenged because it exempted purchases of more than $10K, and two-tier taxes are prohibited under Arizona law. The tax proposed for consideration in November eliminates that exemption. Voters narrowly approved the initial tax in 2018. Approximately $82M was collected while the challenge made its way through the courts. The County is currently…

Groundbreakings 1. Greystar has broken ground on the three-building, 2MSF industrial project Gateway Grand – formerly known as Unbound Gateway – at the NEC of Pecos and Sossaman roads in Mesa. 2. Partnering as Miramar Capital, Contour Real Estate and Miramar Industrial Partners have broken ground on Southern Industrial Center – formerly known as Enscape – a 1.2MSF warehouse and logistics development at the SEC of Southern Avenue and Apache Road in Buckeye. 3. Officials from Pinal County Public Works and other stakeholders broke ground recently on the $17.9M Inland Port Arizona Improvements project that will improve Hanna and Houser…

By LPC Desert West LPC Desert West, the Southwest division of Lincoln Property Co., has announced it will develop a more than 1MSF Class A industrial development in the Tucson airport submarket, highlighting the rising relevance of Tucson as a strategic industrial location. Plans for I-10 International include four warehouse/distribution buildings totaling 476,000SF, 214,882SF, 188,327SF and 158,908SF, located on 77 acres just minutes from both Interstate 10 and Tucson International Airport. All buildings will be state-of-the-art cold storage capable with other features including 32’- 36’ clear height, 14’ tall glass entrances, full concrete truck courts and an R-38 insulated roof deck…

A plan from Urbaneer Investment Partners to develop 120 two-story homes and 210 apartments in seven buildings on the former site of Quail Canyon Golf Course is encountering opposition from some area residents. The proposal would redevelop approximately 53 acres on Oracle Road between River and Rudasill roads. The apartments would be placed on the west side of the property near existing hotel and restaurant spaces. The property’s east side would see the single-family offerings, nearest to existing homes. The site is currently zoned for 1.2 houses/acre. Urbaneer is seeking a rezoning to allow the higher densities. Approximately 100 people…

The Phoenix-Mesa Gateway Airport Authority has approved a 40-year master development agreement with The Boyer Company to develop GatewayEast, a 270-acre area on the airport’s northeast side dedicated for non-aeronautical projects. While the ultimate planning process lies with Boyer, the long-term vision is a three-phase mixed-use commercial area. The tentative master plan calls for a mix of 50% industrial, 32% office, 9.5% retail and 6.25% hospitality development. The airport is restricted from selling the land outright, but it has the right to allow outside parties to develop on the site. Boyer will pay $0.55/SF for developed lots and a 10%…

The Surprise City Council has approved Trammell Crow Residential’s site plan and planned area development request for Allora Surprise, a 351-unit, 16.84-acre multifamily development at the SEC of Bell and Citrus roads. The Surprise Planning & Zoning Commission had recommended against the plan last month. The original plans for the site included eight acres of commercial. Landowner Carefree Partners scaled the commercial portion down to 3.9 acres and relocated it on the site, an adjustment project representatives credited in ultimately winning approval. The multifamily development will consist of 222 one- bedroom, 117 two-bedroom and 12 three-bedroom units ranging from 681SF…

By Roland Murphy for AZBEX Toll Brothers Apartment Living is requesting a site plan approval and special use permit from the City of Mesa to develop Navona – a 400-unit apartment development on 20.24 acres at the SEC of the Williams Field Road and Crismon Road alignments. The proposal was presented with a staff recommendation for approval to the Mesa Planning and Zoning Board on June 22nd. The site lies within Phase I of the Avalon Crossing master-planned community and is zoned Planned Community under the Avalon Crossing Community Plan. Single-family developments are planned to the north and east, and…

The Tempe City Council is considering a Government Property Lease Excise Tax abatement for Hines’ proposed 14-story, 216KSF 250 Rio office development near Rio Salado Parkway and the Ash Avenue Alignment. If approved, Hines would sell the site to the City and the project would receive an eight-year abatement on property taxes. Under the proposed agreement, Hines would make payments to area educational foundations to offset the property tax revenue. Other payments would be made to the Tempe Coalition for Affordable Housing, and Hines would contribute $150K for a planned veterans’ memorial. The developer would also fund improvements on the…