Author: BEX Staff

By Rio Nuevo Board In one of Rio Nuevo’s most active recent meetings, the Board – unanimous on every agenda item – approved projects ranging from a $180M hotel and residential complex to a new bar and restaurant on Congress Street and many more. Developer Scott Stiteler presented his plans for the entire block at 340 N. Sixth Ave. and 7th Street. Phase One is an $8M investment by Stiteler’s team to fully renovate the Corbett Building. This renovation will include an “old school” burger joint, a beer garden, five pickleball courts, and 188 parking spots. Stiteler also has plans…

The Pinyon Plain Mine, a planned uranium extraction operation roughly 10 miles south of the South Rim of the Grand Canyon, recently took one more step toward operation when the Arizona Department of Environmental Quality issued an aquifer protection plan permit. The permit is required for any operation that discharges pollutants into groundwater. Applicants must show how they plan to use technology to prevent discharges from filtering into groundwater and meet other state water quality standards. The Obama Administration issued a 1-million-acre mineral extraction ban in the area of the mine. Pinyon Plain was grandfathered because it has been in…

By Salt River Project With the coal-fired Coronado Generating Station scheduled to close no later than 2032, Salt River Project is launching several studies, and working with the local St. Johns community, to investigate possible low- or no-carbon reuses of the plant site. Transitioning coal communities to a new economic way of life is a vital initiative for SRP, Arizona and the entire U.S. SRP is committed to supporting all nearby impacted communities reliant on CGS to shift their economic strategies as they develop a sustainable, strategic economy. SRP’s Coal Communities Transition Team has already begun work on a community…

By City of Scottsdale Scottsdale City Council approved the 2022 Transportation Action Plan at its April 26th meeting. The plan is focused on flexible transportation planning, implementing new technology and investing in existing infrastructure. TAP 2022 is divided into five elements: Streets, Transit, Bikeways, Pedestrian Use and Trails. TAP 2022 priorities include: Supporting sustainability and cost savings by preserving and maintaining infrastructure;Ensuring flexibility to respond to changing technology and shifting priorities;Closing system gaps and improving local and regional connectivity with path systems, trail corridors and transit routes;Building complete streets to provide safe access for pedestrians, bicyclists, motorists and transit riders…

Awards & Accolades 1. Scottsdale Water Resources Administrator Kevin Rose was named the Operations Leader of the Year at the 2022 Arizona Water Conference in April. 2. The Central Arizona CCIM Chapter welcomed two designees from NAI Horizon, First Vice Presidents Victoria Filice and Andrew Warner. Filice is with the Nunez Self Storage Group. Warner is a member of the Manufactured Housing Group. 3. Gary Heinfeld has been elected to Region 2 First Vice President for 2023. Boards & Commissions 4. Helios Education Foundation announced today the expansion of its Board of Directors with the appointment of Kitchell President and…

Sales Transactions 1. Institutional Property Advisors, a division of Marcus & Millichap, has announced the $201.75M portfolio sale of three Southwest area multifamily communities, including two in Arizona. The Arizona properties are: The Villages at Metro Center, 296 units, and Crystal Creek, 273-units, both in Phoenix. Steve Gebing and Cliff David, of IPA represented seller JB Partners, and procured the buyer, Bridge Investment Group. 2. Decron Properties has purchased the 328-unit Tamarron Apartments community in Phoenix for $128M. 3. Peoria’s largest undeveloped master planned community site, the 5,261-acre Saddleback Heights has been acquired by Castle Hill Partners for a reported price…

By Arizona Commerce Authority A new report comparing state economies ranks Arizona No. 1 for economic performance over the last decade. The latest Rich States, Poor States analysis from the American Legislative Exchange Council gave Arizona the highest marks in the country in its annual ranking based on the state’s Gross Domestic Product, population, and job growth. This year’s survey is the first time Arizona ranked No. 1 for economic performance. In addition, Arizona ranked No. 3 for economic outlook, a measure that predicts future economic performance based on 15 policy variables including a state’s tax burden, public debt, and…

By Pinal County From now through May 20th, the(Pinal County) Draft 2022 Five-Year Transportation Improvement and Maintenance Program (TIMP) for Budget Years 2021-2022 through 2025-2026 is available for public review and comment by visiting: bit.ly/TIMPcomments. Updated annually, the transportation program identifies potential funding and establishes a tentative schedule for countywide planning, construction and maintenance projects. After the public comment period, the program will be submitted to the Board of Supervisors for final approval in June. By unanimous vote, the Transportation Advisory Committee approved the draft program in February. The committee is a 10-member panel that is appointed by the Board of…

Information is starting to trickle out about BNSF’s planned “Regional Industrial Rail Facility,” also known as the BNSF Railway Western Hub near Surprise. The company started the process to develop the 3,500-acre site and have it annexed into the city after submitting the sole bid in an Arizona State Land Department auction in March. BNSF’s plans for the site include an industrial park with warehouse/manufacturing, distribution and other facilities. Documents submitted in support of the plan state the site’s intermodal capacities would be beneficial for companies and would permit the efficient movement of goods and materials through a combination of…

By IndiCap and AECOM-Canyon Partners IndiCap, in a joint venture with AECOM-Canyon Partners, announced its entry into the Phoenix real estate market with the recent $48M acquisition of two parcels of land totaling 113 acres in Mesa’s Eastmark master-planned community. The project, Eastmark Center of Industry, will contain 10 buildings totaling more than 1.6MSF of mid-bay and cross dock industrial buildings. Cornerstone companies assisting in the land acquisition and development include Layton Construction, Kimley Horn, Deutsch Architecture and Snell & Wilmer. Pat Harlan, Steve Larsen and Jason Moore from the Phoenix office of JLL represented IndiCap in its site selection…