Author: BEX Staff

By BEX Staff for AZBEX The United States has a shortage of 4.5 million housing units. Even though construction activity trended downward in 2022 and 2023, it remains greater than it was before the pandemic. Developers are also working toward higher deliveries for improved affordability, as a combination of unmet demand and heightened costs have put new homes out of reach for much of the population. To meet demand needs, builders are pivoting toward higher-density development. Single-family detached housing starts fell 8.9% in 2023 but attached single-family home starts increased 3.2%. Condo starts increased 8.1%. Completions of single-family detached dropped…

Awards & Accolades 1. Arcadia View Lofts in Phoenix was named the Grand Winner of the Build-to-Rent category in the 2024 Multifamily Executive Awards. The property was built by the Net Zero Energy real estate developer MODUS Companies. Groundbreakings 2. Construction has begun on the Buc-ee’s on Bullard Avenue just south of the I-10 in Goodyear. The new 74KSF travel center is anticipated to create more than 200 full-time jobs. Currently, construction is focused on clearing the site for utility-work. The location is expected to open by the end of 2025. Progress Reports 3. Two Tucson public works projects on…

The City of Buckeye released two general obligation bonds to be voted on by residents in November. Question One regards Proposition 494 and asks voters if Buckeye should be authorized to issue and sell $137M in general obligation bonds for public safety improvements. Funding would go toward a new public safety headquarters for the City, as well as modern training facilities and new fire stations in the Westpark and Victory neighborhoods. If approved, the police and fire headquarters would serve as the base for Buckeye patrol, special operations and criminal investigations. It would serve as an emergency operations center that…

By Roland Murphy for AZBEX The Arizona Construction sector dropped 1,700 jobs in September, putting it in first place for losing sectors for the month. Arizona’s seasonally adjusted unemployment rate rose to 3.5%, according to the latest report published by the Arizona Office of Economic Opportunity. The national unemployment rate dropped to 4.1%, down from 4.2% in September. Last September, Arizona had a seasonally adjusted rate of 4.2%. The national rate was 3.8%. Arizona had a not-seasonally adjusted gain of 29,300 in nonfarm employment jobs month-over-month. “Prior to the pandemic (2010-2019), NSA nonfarm employment gained 28,800 jobs on average in…

A number of Glendale residents are up in arms about plans to revise or demolish a long-standing public library in Murphy Park as part of the Downtown Campus Modernization Project. The City’s preferred plan, at the moment, is to relocate the Velma Teague Library out of the building it has occupied for 53 years to a City-owned primarily retail space two blocks away at a projected cost of $8M. The existing space would need approximately $5M in upgrades to its electrical, plumbing, lighting and HVAC systems to remain in service. Community Services Director Jean Moreno informed the Library Advisory Board…

The Phoenix City Council is upset about recently passed legislation that will shake up municipal zoning regulations. The Arizona Legislature’s actions may force Council to apply less strict controls to Accessory Dwelling Units, or casitas, may create denser housing in parts of the city, and accelerate conversions of aging commercial buildings into housing while bypassing hearings. The focus is HB2720, HB2297 and SB1162, all Republican-driven measures that received some support from Democrats and were signed by Gov. Katie Hobbs. The legislation is intended to address portions of the housing crisis, particularly supply and affordability. The measures require municipalities to adjust…

Giving Back 1. Concord General Contracting sponsored a superhero-themed adoption event at the Nancy J. Brua Animal Care Center. Concord covered fees for every adoption. Three foster-to-adopts were completed and 27 pets were adopted, with three more adoptions pending. Awards & Accolades 2. The Arizona Hispanic Chamber of Commerce and its Arizona Minority Business Development Agency Business Center have honored the Arizona Department of Transportation’s work with minority- and women-owned businesses. For the ninth straight year, ADOT has been inducted into the Arizona Million Dollar Circle of Excellence, established in 2012 to recognize entities spending more than $1M annually with…

Sales Transactions 1. Amazon Data Services purchased two parcels in Laveen from IDM Companies for $277.3M. IDM had previously completed multiple rezonings to allow for future industrial development along the Loop 202 South Mountain Freeway in Laveen’s “technology corridor”. The two parcels of land near 63rd Avenue and Dobbins Road total more than 200 acres. 2. American Leadership Academy purchased a 225.9KSF charter school campus in Mesa for more than $80M. The 2022 campus was built by Schoolhouse Development on 22.2 acres at 7726 E. Pecos Road. The purchase was financed by $201.6M in revenue bonds originating from the Pima…

By Roland Murphy for AZBEX The Phoenix Planning Commission will hear requests for a 344-unit apartment community in far north Phoenix south of 29th Avenue and Dove Valley Road at its Nov. 7 meeting. The site is located approximately two miles from the Taiwan Semiconductor Manufacturing Company’s facility west of 43rd Avenue. A rezoning site plan was submitted by Norris Design. The property owners are North Gateway Core Acreage Investors LLC / Hare Investments LLC, and Trumont Group is the developer. The 20-acre site is located in the North Black Canyon Overlay District and is surrounded by vacant land with…

By Arizona Department of Transportation Working with partner agencies and benefiting from public input, the Arizona Department of Transportation has completed a five-year update of the strategic plan for enhancing safety on all public roadways. The Strategic Highway Safety Plan for 2025-2029 is a data-driven plan that establishes statewide goals, objectives and key emphasis areas that allow highway safety programs and partners to align goals and leverage resources for engineering, education, enforcement and emergency medical services. The plan also focuses on the responsibility all Arizonans have to help reduce life-altering crashes on local roads and state highways. The effort included…