Author: BEX Staff

The U.S. Treasury Department has announced guidance intended to increase state, local and tribal governments’ use of American Rescue Plan Act funds that will let more multifamily developers increase production via Low-Income Housing Tax Credits. Under the Treasury plan, state housing agencies can use State and Local Fiscal Recovery Funds to finance LIHTC Projects. The change will enable significant new financing for affordable housing. Treasury is also updating guidance to make it clear SLFRF funds can be used to fund development, repair or operation for affordable rental housing with affordable designations 20-years or more for households earning 65% or less…

Groundbreakings 1. Picking up an announcement from CoStar, ORION Investment Real Estate reports EKN Development has begun construction on the dual-branded, 148-room Fairfield Inn and TownePlace Suites at Tempe Market Station near Tempe Marketplace. FFKR Architects is the design firm, and Porter Brothers Construction serves as general contractor. 2. EPCOR has begun construction on the Copper Basin Water Reclamation Facility in San Tan Valley. The new facility will replace the Section 11 lagoon-style plant, which will be decommissioned by 2025. Copper Basin is scheduled to be in operation by December 2023. Progress Reports 3. After a full year of construction,…

To the chagrin of some San Tan Ranch residents, the Gilbert Planning Commission has recommended a two-story, 75KSF self-storage plan at the SWC of Pecos and Recker roads for approval. The request involves a rezoning and minor General Plan amendment for the 2.92-acre site to allow the developer to build a two-story storage facility greater than 25KSF. The self-storage use is already permitted by right, according to planning officials. Some residents of San Tan Ranch started an opposition petition against the project, which ultimately got 70 signatures. Among the concerns expressed were an increased in crime and homeless/transient traffic, neighborhood…

The Mesa City Council unanimously approved plans for the 36-unit Countryside Townhomes (also known as Countryside Modern) development on 2.4 infill acres at Southern Avenue and 32nd Street following months of meetings and negotiations between the developer and nearby residents opposed to the original plan. Over the course of five months, opponents – mostly from the nearby Dana Park community – got enough concessions from the project owner to pave the way for approval. Council members commented during the July 11th meeting on the hundreds of hours spent by staff, residents and project representatives to get the approval to the…

The City of El Mirage has expressed its support for a request by Dermody Properties to designate approximately 700-acres of LogistiCenter at Copperwing as a Foreign Trade Zone. Requests are ultimately reviewed and approved or rejected by the federal government, but El Mirage will draft a letter supporting the request. El Mirage wants to help the industrial park remain competitive in the face of rampant industrial development in the area. The City reports there are currently seven speculative buildings planned for the park. A Foreign Trade Zone designation is an attractive differentiator, as it allows materials to be stored, processed…

By Roland Murphy for AZBEX Diversified Partners is requesting a minor general plan amendment and zoning amendments for a 78.6-acre site at the NWC of Black Mountain and Goldrush roads in Bullhead City for a mixed residential and commercial development. The site lies just east of the City Square Shopping Center and other commercial properties at the NEC of Black Mountain Road and Highway 95. The requests are the first step in developing Trails at Black Mountain, a mixed project of multifamily, manufactured housing, single-family and self-storage components. According to the project description, “The rezoning exhibit depicts a single 16-acre…

By Roland Murphy for AZBEX Doing what we do the way we do it, the BEX staff and I see just about every major project in the state, as well as several that don’t quite make the cut in terms of size. For the last couple of years, at least, nearly every one of them has some component of “resident concern” attached to it. These range from the traditional NIMBYs (We’re not opposed to development, per se, you understand, but we hate this particular project. We’ll probably hate the next one, too.), to BANANAs (Build Absolutely Nothing Anywhere Near Anyone)…

Delays in entitlements and construction processes are adding an average of five months to new industrial builds. Data from Newmark shows projects in the pipeline are hitting major backlogs. Starts are up 64% between 2019 and 2021. Tenant demand is up 120%. Deliveries are only up 5.7%. Newmark’s report shows challenges from entitlements to supply to labor are impacting construction at every point in the development process. Lead times for materials are uncertain and can reach out to a year (or more) in some cases. Municipalities are short-staffed while simultaneously seeing a higher number of projects coming in. The construction…

The U.S. Department of Transportation has a new rule proposal that intends to make it easier for small and disadvantaged businesses to compete for federal contracts. Transportation Secretary Pete Buttigieg said the new rule will also widen the U.S. contracting capacity as the $1.5T infrastructure law impacts demand for talent across a widening array of projects. Under the proposal the Disadvantaged Business Enterprise and Airport Concession Disadvantaged Business Enterprise Programs would see several changes, including: Simplified ownership and control certification requirements;Simplified interstate certifications;Adopting so-called “COVID-19 flexibilities,” including virtual site visits;Reduced reporting requirements for some Federal Transit Administration recipients;Expanded marketing opportunities…

Giving Back 1. The Terracon Foundation has awarded a $50K endowment grant to the University of Arizona College of Engineering. The endowment will be used to fund an annual scholarship entitled the Terracon Foundation Geotechnical Engineering Graduate Scholarship. Boards & Commissions 2. Tech Parks Arizona has appointed Karla Morales to its board of directors. Morales also serves as VP for the Arizona Tech Council of the Southern Arizona Regional Office.  Company News 3. Land Advisors Organization announced its investment and new partnership with real estate property technology company Cecilian Partners. Through the new partnership, LAO is adding a new layer…