Author: BEX Staff

A recent archaeological report on the Transform 17 master plan at University and Mesa drives in Mesa notes several potential historical finds on the 27-acre site. The City of Mesa and Miravista Holdings are expected to sign a final development agreement in August to finally develop the project, which has been on the City’s radar for decades. As part of Miravista’s master planning process, archaeology company PaleoWest reviewed documentation on the site’s historical features to assess what cultural resources, if any, might be disturbed within a half-mile radius in the development proceeds. The report found reason to believe there may…

A state audit of the Regional Transportation Authority shows that road projects in and around Tucson continue to suffer major funding shortages, and no immediate solutions appear to be close at hand. Eleven major projects, most of which are in Tucson, face a $150M funding gap. Per-project shortfalls range between $2M and $64M. Rising construction costs and unexpected physical problems have contributed to the overruns and shortfalls. The City of Tucson and the RTA have been embroiled in conflict for months as to who is responsible for what costs and who should dictate project resources and details. This has jeopardized…

An on-again/off-again effort to expand facilities at Phoenix Theatre Company are enthusiastically back on with the updated announcement of a $20M renovation and expansion. Previous capital campaigns for the project were twice overtaken by events. A 2008 effort was derailed by the start of the Great Recession, and a second that started in 2017 for the troupe’s 2020 centennial was waylaid by the pandemic, even though it was never officially halted. Despite the challenges, that campaign has raised $17M of the expected $20M cost for the expansion. The driving vision is to expand the facility’s size and technical capabilities so…

Attorneys for Arizona have requested a judge dismiss a five-year-old lawsuit claiming lawmakers have failed to satisfy their legal obligations to adequately fund school facility maintenance and construction. The lawyers argued before Maricopa County Superior Court Judge Daniel Martin that changes have occurred in the funding system since school districts and outside education advocates filed the lawsuit in 2017. They argued the question of school funding methods should be left to elected legislators, noting that changes have already been made and alleging they need flexibility in addressing future policy issues. Lawyers for the plaintiffs argued the Arizona Constitution requires lawmakers…

Giving Back 1. SRP, along with utility companies from 10 states across the U.S., are volunteering in a collaborative effort known as “Light Up Navajo.” The American Public Power Association and Navajo Tribal Utility Authority are organizers of the eight-week volunteer humanitarian effort. The goal is to electrify 300 homes during that time. Awards & Accolades 2. David Krumwiede, senior executive VP for Lincoln Property Company, has been named NAIOP Arizona’s 2021 Award of Excellence recipient. The award will be presented at the Best of NAIOP awards ceremony on June 9th at the Arizona Biltmore. 3. NAI Horizon has named its Top…

Agreeing with opposition claims that Salt River Project failed to consider the impacts a $1B natural gas plant expansion in Coolidge would have on nearby Randolph, the Arizona Corporation Commission has rejected the utility’s request. The existing plant has 12 quick-start generators. The expansion would have added 16 more, increasing the plant’s capacity from its current 615MW to a total of 1,435MW. Commissioners voted 4-1 against the expansion following months of outcry and opposition from Randolph residents, who said extensive industrial development has ruined the area’s previous character and inflicted negative health impacts. Supporters of the plant expansion, which had…

The Queen Creek Town Council has voted to approve selling bonds to fund new facilities under Phase I of the Town’s Park Master Plan. Phase I components include East Park, an aquatics and recreation center, and the finishing of Mansel Carter Oasis Park. The initial issuance is planned for $138M. Council also approved a name change for East Park in its recent meeting. The park will now be known as Frontier Family Park. Frontier Family Park includes the Aquatic and Recreation Center and will be completed in two phases. J2 Engineering and Environmental Design will provide design services for Phase…

Sales Transactions 1. Sales TransactionsReNUE Properties has sold its portfolio of affordable housing communities to Starwood Real Estate Income Trust for $345M. It is reportedly the largest affordable housing sale in Arizona history. The properties consisted of: Desert Eagle, Glendale, 196 units;Village at Sun Valley, Mesa, 276 units;Tierra Antigua, Mesa, 174 units;Lake Pleasant, Peoria, 152 units;San Fernando, Mesa, 264 units;Bella Vista, Phoenix, 200 units, andReNUE Downtown, Phoenix, 200 units Closing for Bella Vista and Legacy Bungalow are expected by April 30th following regulatory approvals. CBRE Affordable Housing team, led by Jeff Kunitz, facilitated the transaction. 2. Velocity Retail Group, in partnership…

The Maricopa Association of Governments has begun its push for an extension of the Proposition 400 half-cent transportation tax. MAG representatives recently presented a series of bus and road projects it has targeted to the Chandler Chamber of Commerce. Among the projects laid out for attendees were a rapid bus route between Scottsdale and Chandler Fashion Center and another between downtown Chandler and Mesa. These and other projects are intended to improve connectivity and ease of travel between Valley cities. MAG representatives said passing a Prop 400 extension is essential to meeting all those connectivity goals. The extension request is…

The Phoenix Planning Commission has approved a rezone that paves the way for the city to sell 87 acres of land in Laveen to the Arizona Department of Transportation for development of SR 30. SR 30 will connect the Loop 202 and Loop 303 freeways. ADOT will use the land purchased from Phoenix for whatever rights of way the project needs and then sell any remaining land bordering the freeway. Phoenix City Council delayed a vote on the sale in October of last year and again in January to give staff more time to review the request. The current general…