Author: BEX Staff

Plans were announced recently for the future of 373 acres of former State Trust Land in Ahwatukee. Blandford Homes gave a preview of its master plan for Canyon Reserve, an area between 19th and 27th Avenues along Chandler Blvd. The developer intends to start work late this year or early next on 1,050 one- and two-story houses, 150 Build-to-Rent townhomes and 329 traditional multifamily apartments. Sales for the single-family houses are expected to begin in 2024. The plan was unveiled at an April 25th meeting of the Ahwatukee Foothills Village Planning Committee. The Committee is scheduled to rule on a…

Ongoing disputes between the City of Tucson and the Regional Transportation Authority, which had been cooling since a new agreement was reached in January, are threatening to heat back up and may throw the RTA Next plan covering the next 20 years of major road improvements into jeopardy. The current argument focuses on an improvement plan for First Avenue between River and Grant roads that would widen the street from four lanes to six. The project was part of the package voters approved in 2006. RTA does not have sufficient funding for all the 2006-approved projects, and the increases in…

The Goldwater Institute has filed a lawsuit against the City of Phoenix, alleging the City’s use of a Government Property Lease Excise Tax incentive arrangement violates the Arizona Constitution. Under the GPLET, Phoenix will assume ownership of the $87M high-rise project known as Skye on 6th from developer Hubbard Street Group and Cresset Real Estate Partners. It would then lease the property back to the developers, allowing them to avoid paying property taxes for eight years. At the end of the term, ownership would revert back to the developer. Goldwater estimates the agreement will allow Hubbart Street Group to avoid…

The Surprise City Council has named its most important capital projects, arriving a total of nearly two dozen from a list of 82 originally presented by City Manager Bog Wingenroth and City finance staff earlier this month. The original list presented to Council totaled $959M. Wingenroth requested that Council prioritize its top $250M to fund over the next five years. Finance staff plans to give another presentation at the May 17th Council meeting. Some of the prioritized projects include: A $64.2M regional park with a softball complex, trails, standard park amenities, a pool, and the possibility of a lake and…

Sales Transactions 1. Institutional Property Advisors, a division of Marcus & Millichap, has announced the $145M sale of the 240-unit Liv North Scottsdale apartment community in Scottsdale. Seller Liv Communities was represented by IPA’s Steve Gebing and Cliff David. 2. Art and Clint Wadlund of Institutional Property Advisors, a division of Marcus & Millichap, represented seller HZ Properties in the $91.25M sale of a 28-property portfolio made up of 26 casitas in Tucson. Buyer Commerce Capital Partners was self-represented. 3. Knightvest Capital has purchased the 209-unit apartment community Lydian on North 3rd Street in Phoenix for $66M. Transwestern Development Company…

The Mohave County Board of Supervisors recently voted to support applications for three federal land parcels that could be used as the site for a new county fairgrounds. The vote authorized County Manager Sam Elters to explore an application for the land and a master plan for developing it. There has not yet been any approval for the project, itself. The area in question is more than 370 acres of Bureau of Land Management land near I-40. In addition to the fairgrounds, the site could also become the home of a new facility for the County Medical Examiner. The Board…

By Meta via Facebook In August 2021, we were thrilled to add Mesa, Arizona, to our family of data centers. Just nine months later, we’re excited to announce that we are expanding the Meta Mesa Data Center campus with three new buildings, reaching more than 2.5MSF. This expansion raises our investment in Arizona to more than $1B. It also means that the number of skilled trade workers at peak will increase from an average of 1,500 to 2,000. And once it’s completed, we anticipate the data center will support 200 operational jobs. Meta is dedicated to playing a positive role…

By Lincoln Property Company LPC Desert West, the Southwest arm of Lincoln Property Co., has completed a $53M, 140-acre land acquisition in Glendale for its next mega metro Phoenix industrial project: Luke Field. The $515M, 2.3MSF development is bordered by Litchfield Road, Northern Avenue, the new Northern Parkway and Luke Air Force Base. It is minutes from the Loop 303. When complete, Luke Field will include three buildings totaling 1.26MSF, 604KSF and 416KSF. All buildings will have the same high-end “creative industrial” amenities that LPC has become known for. Features of Luke Field will include 40’ clear height, touchless technology…

Following a unanimous vote by the Maricopa City Council, the City will sell three parcels next to Copper Sky Regional Park to S3 BioTech LLC so the developer can move ahead with plans to build a medical campus. The total sale will be approximately $3M. The company plans a specialty emergency hospital with 25 beds and at least 100KSF of space for medical services, ambulatory surgeries, lab and office space. The hospital would be operated by Nutex Health. Other uses for the space will include apartments/condos, a sports stadium, training facility and a physical therapy center. If all goes according…

In a recent report to the Surprise Planning and Zoning Commission, Rick West, president of Carefree Partners, landowner of the Surprise City Center site, explained his vision for the site features a focus on height and density, with buildings reaching, and in some cases surpassing, heights of 10 stories. The boundaries for the area are Bell and Greenway Roads on the north and south, and Litchfield Road and Bullard Avenue on the east and west. Three- and four-story multifamily developments are in the works, but additional projects of up to seven stories are envisioned. Zoning is in place for up…