Author: BEX Staff

As a long-standing family farm prepares to relocate following the sale of its land for an expansive new development on the border of Peoria and Glendale, more details are emerging as to what the Legacy Point Mixed-Use Master Plan will entail. The land in Peoria will have 151 acres for single-family homes, 175 acres for industrial/employment development and 20 acres for a variety of other uses. Another portion is intended to be annexed into Glendale. Shea Homes will handle the residential development, eventually putting in up to 500 homes. VanTrust Real Estate will develop the industrial portion, which will feature…

Glendale City Council has approved an agreement with Plaza Companies to market 20 acres of a 64-acre site at the SWC of 91st Avenue and Cardinals Way the City wants to develop for mixed-use. Plaza will serve as Glendale’s broker under the agreement. Glendale will evaluate offers to develop the 20 acres, which the City Council will consider along with the larger 64-acre site. Plans for the project feature 600KSF of upscale office, 60KSF of retail/restaurant/entertainment, 230 apartments and new hotel spaces. The property currently has planned area development zoning. Another agreement, which allows Plaza Companies to create the site…

Governor Doug Ducey announced draft legislation to create the Arizona Water Authority, a new outlet tasked with identifying and developing new, innovative long-term water sources and to acquire and sell water on the State’s behalf. It will also be able to store water and manage water credits, along with building and acquiring water-related facilities. Ducey announced the initiative in a white paper on February 25th. The Authority will consist of a nine-member board appointed by the governor and will, in addition to its other duties, manage the Water Supply Development Revolving Fund and the Long-term Water Augmentation Fund. A joint…

Giving Back 1. Children at Camp Verde Elementary in Camp Verde have a brand-new state-of-the-art play space. Volunteers from Fiesta Bowl Charities, the Salt River Project and KABOOM! came together February 25th to build the 2KSF playground from the ground up. Boards & Commissions 2. Tech Parks Arizona announced that Ryan H. Goodell has been appointed to its board of directors. Goodell serves as the University of Arizona VP for Facilities, Operations and Campus Planning. Promotions 3. Troy Reierson has been appointed as General Manager overseeing Berkshire Hathaway HomeServices’ operations in Arizona, Nevada and California. 4. Andy Mertz has been…

Sales Transactions 1. Cushman & Wakefield has advised the joint venture of Martens Development and Dune Real Estate Partners in the disposition sale of Landing 3, a new Class A industrial development totaling 525KSF in seven buildings in Mesa. An affiliate of Cohen Asset Management acquired the portfolio in partnership with ASB Real Estate Investments for $130M. The seller was represented by Cushman & Wakefield’s Will Strong, Greer Oliver, Connor Nebeker-Hay, Adam Spies and Marcella Fasulo. C&W’s Rob Rubano and Brian Share arranged financing for the buyer. 2. WhiteHaven Capital Partners has purchased the 163-unit Stadium Vue Townhomes in Peoria…

By Roland Murphy for AZBEX The prevailing wisdom was that new development proposals would start to trickle into Apache Junction once the massive Superstition Vistas master plan began moving from grand vision toward reality. Early activity suggests the prevailing wisdom may have been a tad cautious. In the last several weeks no fewer than five major projects have been submitted to the little city that was, until recently, long considered a country cousin to the Valley’s burgeoning metro area. As a reminder, Superstition Vistas is a master plan arising from a 2020 Arizona State Land Department auction of nearly 2,800…

The final tenant improvements on 850 PBC, the latest addition to the Phoenix Biomedical Campus downtown, are underway and targeted for fall delivery. Wexford Science and Technology is the developer and will take 34.5KSF of the 227KSF facility when the improvements are complete. In the meantime, the next structure on the campus is in the planning stages. 843 PBC will create a total of 600KSF in two towers, according to Wexford representatives. The exact final scale of the project will be contingent on market demand, but representatives say the company is working with Arizona State University and the City of…

The Buckeye Planning and Zoning Commission approved a site plan for Crimson Canyon, a 324KSF industrial proposal south of Durango Road, at its regular meeting February 22nd. The developer is in ongoing talks with an area homeowner’s association about access issues and other minor points. As planned, the project will deliver a 323,840SF building on 21.6 acres. The single-story warehouse will have a height of 46 feet, and 328 parking spaces will be provided on site. Crimson Canyon is the project owner/developer. LGE Design Build/Group is the design firm and general contractor. (Source)

The Tempe City Council has unanimously approved a work-from-home-focused, 129-unit apartment plan from Holualoa Companies. Dwell: A Work@Home Community was approved February 10th and will consist of studio, one-bedroom and one-bedroom with built-in office units northwest of Farmer Avenue and 5th Street. Holualoa representatives said the project fills an important niche for affordable, worker-centric housing in attractive urban areas surrounded by area amenities. They expressed hopes the project format would be picked up and implemented in other communities. As such, Dwell will not have a pool or some other high-end features, a rarity for Phoenix-area developments. It will, however, offer…

Surprise City Council has begun consideration for a proposal that would make site plan approval an administrative item rather than requiring action by the Planning and Zoning Commission. A separate streamlining item under discussion would place final authority for administrative plats with Planning and Zoning, rather than sending them to City Council. Council members generally expressed interest in the ideas, which could come up for a vote in a future meeting. Some members, however, were concerned that the process revision would remove one public hearing from the process. Supporters argued that public comment is not particularly relevant in the site…