Author: BEX Staff

By Tasha Anderson for AZBEX  Core Spaces and Up Campus Properties are proposing a new addition to The Hub student housing mixed-use development within the Main Gate District in Tucson.  Currently known as The Hub V, the new student housing complex will be located at the former Arizona Credit Union site at 1001 N. Park Avenue, near the University of Arizona campus. The submitted project documents state that the existing credit union will be demolished.  According to the documents, “The Project is located on three parcels, stretching from Park Avenue the alley in back, and from 1st Street to the south line of the 1031 N. Park (“Sol”) building.”  The Hub V will consist…

Budget, Policy & Stimulus News  Six Things to Know About PPP Loans, Taxes  Arizona Certified Tax Law Specialist Giselle Alexander recently offered up six things businesses should be aware of concerning Paycheck Protection Program loans and taxes. In summary:  Expenses paid for with loan proceeds are deductible;  Forgiven PPP funds do not have to be included as income;  Employers can take advantage of tax credits for paid leave granted under the Families First Coronavirus Response Act in addition to PPP loans;  Payroll taxes may be deferred under the CARES Act,   PPP funds cannot be used to pay business taxes, and   Companies that have applied for PPP loan forgiveness but have yet to receive an IRS decision…

By Town of Gilbert  Do you drive, bike, walk, or use some other mode of transportation in Gilbert?  The Town of Gilbert is updating its Transportation Master Plan and we want to hear from you.  Visit our virtual open house from now until March 16th, 2021 to submit your ideas on ways we can improve transportation in Gilbert.   Share your input in the following ways:  General transportation survey  Driving survey  Multimodal survey (public transit, walking, biking, trails)  Map your ideas  Visit the virtual open house at GilbertTransportationPlan.com to get started.  Your feedback will help Gilbert better understand current transportation needs and challenges and what potential solutions our residents and travelers would like to see for…

By CommercialSearch/Yardi Matrix  Over the past decade, the price-per-unit for multifamily properties surged 156 percent, reaching nearly $160K. This increase surpassed both median home sale prices and rental rates.  The latest CommercialSearch study compared and ranked the most active U.S. metros in terms of multifamily sales since 2009.  Here are some highlights:  Phoenix is the sixth hottest U.S. market for multifamily sales over the last decade. Since 2009, Phoenix registered more than $42B in multifamily sales.  In terms of transactions, 1,711 deals were completed across the metro since 2009, totaling 385,717 units.  In 2020 alone, Phoenix closed 125 deals, claiming the 3rd spot. The market had only 21 deals fewer than Dallas-Fort Worth, which took #1.  For…

By Associated Builders and Contractors  Construction input prices increased 2.5 percent in January 2021 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 rose 2.1 percent for the month.  Construction input prices rose 4.8 percent from a year ago. Nonresidential construction input prices experienced a 4.2 percent increase over that span. Softwood lumber prices are up 73 percent on a year-over-year basis and iron and steel prices are up 15.6 percent. Natural gas prices have climbed 30 percent over the past year, while crude petroleum prices have declined 10.5 percent. (Source) 

Groundbreakings  1. Creation RE/PE announced the land closing and construction start of 10 West Commerce Park, an 863KSF industrial development to be located on a 76-acre site in Buckeye. Careful consideration has been given to circulation, maneuverability and building design with special attention to critical items such as clear height, loading configuration and enhanced parking / yard availability. LGE Design Group is the architect and LGE Design Build is the general contractor.  2. ViaWest Group has broken ground on Goodyear Crossings Industrial Park located at the southwest corner of Elwood Street and Sarival Avenue in Goodyear. The plan includes three industrial buildings of 284.3KSF, 58.5KSF, and 67.5KSF in size. Each building is planned for single or multi-tenant use…

By Tasha Anderson for AZBEX The City of Phoenix is looking for a Construction Manager at Risk to help construct three miles of arterial streets in the Northwest Valley, which will serve the planned Taiwan Semiconductor Manufacturing Company (TSMC) project and surrounding region. A Request for Qualifications was recently issued for the $60M Northwest Valley Transportation project, which will be located in the area bounded by 51st Avenue, Interstate 17, Loop 303 and State Route 74. This area is within the North Gateway Village Planning Area, in which the North Phoenix 3,500 PUD rezoned approximately 3,722 acres of vacant land…

Budget, Policy & Stimulus News Delays Causing PPP Application Issues Gusto, a payroll and benefits provider, reports more than half of small business owners in a survey of 1,093 firms, have not yet received their expected Paycheck Protection Program loan forgiveness from the Small Business Administration. 13.4 percent of respondents said they needed a second loan but have not applied because they are afraid their initial loans may not be forgiven. Businesses that are eligible and have applied for a second loan, roughly a third have not received a response to their applications. (Source)

By Premier Underground Horizontal Directional Drilling has fast become a viable option in the underground construction industry. This method provides an excellent alternative to traditional open-cut trenching when faced with environmentally sensitive or obstructed jobsites. HDD contractors can lay utility conduits for gas, water, electric and telecommunication companies with faster, cleaner installations. Here are the top five benefits fueling the increased demand of this underground technology in construction projects. Minimal Disruptions The primary appeal of trenchless directional drilling is the deceased amount of surface disruptions. Traditional open-cut excavation involves digging deep trenches that rip up the landscape, roadway or surface…

Giving Back 1. During its current round of giving, the Sundt Foundation awarded $80.9K in grants to 20 Phoenix-area nonprofits. The Sundt Foundation awards quarterly grants to local Phoenix charities that support disadvantaged children and families. Nonprofits are selected through an application process and reviewed by a committee of Sundt employee-owners. 2. Arizona Window and Door recently partnered with Anlin, a leading manufacturer of energy-efficient windows and doors, to donate an energy-saving new window package to Therapeutic Riding of Tucson (TROT). The donation will help the nonprofit TROT organization, which seeks to use the power of the human-horse connection to…