Author: BEX Staff

By Roland Murphy for AZBEX Phoenix Sky Harbor International Airport’s General Aviation Hangar and Office area is targeted for redevelopment under a recently issued Request for Information. The RFI is looking for companies and ideas to redevelop +/-40 acres (1.74MSF) in the Northwest General Aviation Hangar/Office Area, which is “bordered between South 24th Street to the West, East Air Lane to the North, Honeywell Facilities to the East and Taxiway Alpha along the South border,” according to the request documents. Under a Comprehensive Asset Management Plan recently adopted by the City of Phoenix, the North General Aviation Hangar/Office area is…

Northern Arizona Healthcare has spent the last moth collecting community input and resubmitting its application for its plan to relocate the Flagstaff Medical Center. Officials say the project timeline is unaffected. NAH began exploring plans to relocate the hospital as the focal point of a “health and wellness village” in 2019 after realizing growth in the area required FMC to expand its number of licensed beds and upgrade its technology. NAH originally considered redeveloping the current location, but found the suggestion would have been expensive, time-consuming and disruptive. The new location is in an undeveloped area near Fort Tuthill County…

Developer Real Estate Equities has proposed adding 312 new workforce affordable apartment units to the growing area of north of the Maricopa-Casa Grande Highway. Pre-application documents filed with the City of Maricopa show the site would need a rezoning from light industrial/warehouse to mixed-use. Copa Flats will be a mix of 48 one-bedroom, 108 two-bedroom, and 156 three-bedrooms across 13 three-story buildings. Planned amenities include a clubhouse, pool, outdoor activity area, fitness area and a dog run. Covered parking areas would include photovoltaic systems to offset a portion of the development’s power usage. The developer will retain and separately develop…

As the West Valley continues its rapid and expansive growth, cities in the area are running into the realities of an inadequate housing supply, particularly in multifamily. Buckeye, the nation’s fastest growing city, has not had any multifamily units built since at least 2010. Surprise and Goodyear saw 5% and 10%, respectively, of their delivered housing units over the last 10 years made up of multifamily. While mayors and other officials look to increase supply, and with it manage demand so as to maintain affordability, an affordable apartment development proposal from developer Dominium Management was withdrawn in Buckeye due to…

Mesa Planning Director Nana Appiah wants officials involved in evaluating large commercial and residential projects to speed up the review process. Appiah has expressed concern with how long Planning and Zoning and particularly Design Review Board meetings last. He has called the three-to-four-hour DRB meeting length “unsustainable” and has begun examining possible ways to streamline them. Appiah said an improved process is essential given Mesa’s degree of growth and the volume of newly proposed projects under consideration. His office received 886 applications in 2019 and 823 in 2020. The first six months of 2021 saw 569 planning applications. Appiah notes…

A measure seeking to block the Resolution Copper Mine development is currently connected to the $3.5T budget reconciliation bill, even as the U.S. Forest Service advances efforts to consult with Native American groups regarding the project. The Save Oak Flat Act (HR 1884) was attached to the reconciliation package by the U.S. House of Representatives Natural Resources Committee. HR 1884 would overturn a 2014 land swap authorization that would enable Resolution’s owners to operate the mine in exchange for company-owned land elsewhere. The plan was approved in January in the last days of the Trump Administration but reversed by the…

Awards & Accolades 1. The Greater Phoenix Economic Council was recognized as the top economic development organization in the for populations greater than 500,000 at the International Economic Development Council annual conference. Giving Back 2.As a result of its 2021 call for applications, the SRP Solar for Nonprofits program announced it selected one of the largest foster care agencies in Arizona, Aid to Adoption of Special Kids, as the recipient of a new solar system, which will be located at the AASK office based in Chandler. The donated solar system will be built on top of a parking lot structure, or…

Sales Transactions 1. Equus Capital Partners, Ltd. acquired a 74 property, 7.3MSF industrial portfolio located across the Phoenix and Tucson metropolitan areas. The $1.5B, 342-building portfolio is comprised of predominantly multi-tenant in-fill shallow bay properties and is approximately 98% leased. 2. CBRE announced the $132M sale of two office buildings totaling 300,000 square feet in Tempe to Strategic Office Partners. The sale is the highest-priced and largest office transaction year to date in 2021 within the region. CBRE’s Barry Gabel, Chris Marchildon and Will Mast represented the seller, Boyer Company. Bryan Taute and Charlie von Arentschildt of CBRE were the leasing…

By Roland Murphy for AZBEX Banyan Residential has begun the submittal, review and approval process for its latest Phoenix development. According to a project narrative submitted to the City of Phoenix on September 23rd, Banyan Residential 48th Street and Washington will be a 515-unit multifamily development at the intersection’s SWC. The company is seeking approval for a Planned Unit Development on the vacant nearly 18-gross-acre site. Because it is located so close to Phoenix’s Gateway Transit Oriented District, Banyan will use the City’s Walkable Urban Code standards as its guideline, adding in some project-specific adaptations due to site conditions. The…

As the Arizona Coyotes continue to search for a new interim venue after the upcoming season, their last month at Glendale’s Gila River Arena, more details have come to light regarding the team’s proposal to build a $1.9B mixed-use arena complex in Tempe. The Coyotes were the only respondent to a Gila River Arena request for proposals to develop such a project at a Tempe-owned landfill site on the NWC of Priest Drive and Rio Salado Parkway. According to published reports, the Coyotes’ two-phase project would create a total building area of 3.4MSF. Components include a 16,000-seat arena, 54KSF practice…