Author: BEX Staff

By National Association of Home Builders Builder sentiment fell sharply in February over concerns on tariffs, elevated mortgage rates and high housing costs. Builder confidence in the market for newly built single-family homes was 42 in February, down five points from January and the lowest level in five months, according to the National Association of Home Builders/Wells Fargo Housing Market Index. “While builders hold out hope for pro-development policies, particularly for regulatory reform, policy uncertainty and cost factors created a reset for 2025 expectations in the most recent HMI,” said NAHB Chairman Carl Harris. “Uncertainty on the tariff front helped…

Groundbreakings 1. Work officially commenced on the Lone Tree Corridor Projectalong Butler Avenue and Lone Tree Road in Flagstaff on Feb. 18. This is the first phase of the LoneTree Overpass project, which will result in the creation of a north-south roadway connection extending Lone Tree Road to Route 66 via a bridge. Phase One is slated to reach completion in 2026. Ames Construction is the contractor. Funding was acquired through Proposition 419 and Proposition 420. 2. Willmeng and the Daisy Mountain Fire and Medical Department held a groundbreaking ceremony to mark the start of construction on Fire Station 144.…

This week BEX celebrates our 15th anniversary. I could not be more thrilled to still be in business and, more importantly, still enjoying the ride. I thank everyone in this industry, and especially the team behind me, for letting me live out my dream. I am not a huge fan of overly sappy reflective pieces. They are just not me, but I appreciate the opportunity to reflect on the last year in my own way. Strongest Team We’ve Ever Had The highlight of the year is easily the team. This is the strongest, most cohesive and most effective staff BEX…

By Roland Murphy for AZBEX (BEXclusive) Allante Properties has requested the City of Phoenix rezone 2.18 acres at the SWC of Peoria Avenue and Cave Creek Road to enable the development of a 240-unit multifamily development called Valle View. The total project area consists of 5.2 acres. The portion covered by the request is currently zoned C-2 intermediate commercial. The request would change the zoning to R-5 multifamily residential. The development plan calls for one multifamily building of up to 48 feet in height with an associated parking garage. According to the staff report on the project, “The subject site,…

With the design schedule currently six months behind its original target, the Town of Florence and Pinal County are moving to ensure the final segment of multi-phase project to widen Hunt Highway gets underway by next summer. A Feb. 10 work session between the Florence Town Council and Planning and Zoning Commission discussed statuses, challenges and solutions for widening the road into Florence. Pinal has spent more than $100M improving other portions of Hunt Highway, and County officials say the remaining $40M section is a priority. Florence and the County entered into an agreement in May 2023 to share design…

By Associated Builders and Contractors Construction input prices increased 1.4% in January 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 0.9% for the month. Overall construction input prices are 1.3% higher than a year ago, while nonresidential construction input prices are 0.7% higher. Prices increased in all three energy subcategories last month. Crude petroleum prices increased 14.8%, while natural gas and unprocessed energy material prices increased 13.7% and 13.0%, respectively. “Materials prices increased at the fastest monthly pace in two…

Giving Back 1. The PENTA Building Group recently held its 18th annual Safety Kick-Off. The tour held three events in Scottsdale, Henderson, Nev. and Anaheim, Calif. The expo featured dozens of vendors, while PENTA led presentations focused on reinforcing safety awareness in the industry. 2. Stevens-Leinweber Construction’sSuperintendent Logan Durfee completed his 11th annual holiday gift drive for Garden House and launched The Durfee Fostering Transitions Fund, a collaboration with Mark Leinweber supporting Arizona youth as they age out of the foster care system. Awards & Accolades 3. Erik Powell represented Stevens-Leinweber Construction as one of AZRE Magazine’s“AZ Big 100” honorees.…

Sales Transactions 1. A joint venture between Rockpoint and Related sold the 388-unit Town Deer Valley in Phoenix for $131.1M. Goodman Real Estate purchased the apartment complex. Institutional Property Advisors’ Cliff David and Steve Gebing procured the buyer and represented the seller. 2. The 149-room Courtyard by Marriott Tucson Airport Hotel sold at auction for $14.2M. The hotel is located at 2505 E. Executive Dr. in Tucson near Tucson International Airport. The seller, Skyline CM Tucson, LLC, was represented by Ebrahim Valliani and Michael Klar. Ryan Sarbinoff was the broker of record. 3. A 14.9KSF building in the Oracle Wetmore…

The City of Phoenix is expected to proceed soon with a plan that will establish a dense, high-volume mixed-use redevelopment project at 7th Avenue and Washington Street. The City owns all four corners of the intersection. The current Phoenix Police Department headquarters at 620 W. Washington is currently moving its operations bit-by-bit into the former Wells Fargo building down the street at 100 W. Washington. Once completed, the redevelopment plan will include razing the current HQ. There are two vacant parcels, and the Phoenix crime lab is in the planning area. The lab will remain in its current location. In…

By Roland Murphy for AZBEX Three developments can now move forward after the Buckeye Planning and Zoning Commission approved their site plans during its Feb. 11 meeting. Taken together, the approvals total 472 new residential units, 48KSF of retail/restaurant space and 52KSF of future pads. Miller & Hazen Multifamily First up on the agenda was a site plan approval request for a new 178-unit Build-to-Rent development at the NWC of Miller and Hazen roads. Developer Fifth Avenue Properties—a British Colombia-based firm with an office in Glendale—is proposing a BTR development with three different building designs on 17.33 acres under Mixed…