Author: BEX Staff

By BEX Staff for AZBEX A major expansion of the Rainbow Valley Water Reclamation Facility has taken another step toward completion following recent actions by the Goodyear City Council. A local news outlet reported Council passed a contract amendment and development agreement for RVWRF that covers redundancy and peaking factors that were not part of the original 2004 contract and adds $7.75M to the project’s allocated expenditures. The capital improvement project now stands at $50.5M. Goodyear is partnering with Estrella North LLC, an entity of Harvard Investments. Harvard Investments is the owner of Rainbow Valley Ranch, a 1,350-acre parcel planned…

Representatives from Gorman & Company Arizona made a study session presentation to the Casa Grande City Council last week to discuss a potential partnership that would provide workforce and affordable housing and contribute to the revitalization of the city’s downtown. Gorman’s Arizona Market President Sally Schwenn and Development Director Dan Klocke explained Gorman’s goal is to provide quality housing while being a good neighbor in the communities where it works. Gorman has delivered 2,315 units across 27 different developments in Arizona, according to the presentation. There are another 841 units under construction and 1,543 in predevelopment. Schwenn said one goal…

Giving Back 1. Employees from Stevens-Leinweber Construction gathered in June to support Amanda Hope Rainbow Angels, assembling comfort packs, superhero capes, cards and craft kits through a MyCompanyCares event. Awards & Accolades 2. Bettina Hunt of Colliers in Arizona has been named to GlobeSt.’s Women of Influence Class of 2024 in the Broker – Landlord/Agency Representation category. Hunt has more than 24 years of experience and is a member of the Arizona Healthcare Team and a national Colliers Healthcare Fellow who specializes in healthcare real estate. Company News 3. Mancini Duffy has expanded with a new regional office in Phoenix.…

Sale Transactions 1. Cushman & Wakefield announced the sale of The Cubes Building B, a 1.2MSF industrial warehouse building in Glendale. The buyer was an entity connected to BlackRock Realty Advisors Inc. Local news outlets reported the sales price as $128.1M in an all-cash transaction. Will Strong, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield represented the seller, CRG. The property was leased by Amazon earlier this year. 2. Olympus Property has paid $90.2M for Ocio Plaza Del Rio, a 333-unit luxury apartment community in Peoria. Blackstone was the seller. 3. Institutional Property Advisors announced the $76.5M…

By Roland Murphy for AZBEX – BEXclusive Developer West77 Partners plans to build a four-story, 126-room extended stay hotel at the SEC of 91st Avenue and Interstate 10 in Tolleson. The Tolleson City Council approved the site plan request with stipulations for drainage, retention, water lines, screening, landscaping and similar items in its July 9 meeting. The LivAway Suites hotel will be situated adjacent to a recently constructed McDonald’s and Starbucks. The C-2 commercial zoning for the property has been in place for approximately 40 years, according to City officials, and a hotel use is permitted by right. West77 Partners…

By Roland Murphy for AZBEX A long-dormant plan to develop a Build-to-Rent community in San Tan Valley is showing renewed activity. Harvard Investments recently announced it sold a 21.8-acre parcel at the NWC of North Gantzel and East Bella Vista roads to NexMetro Communities for $8.3M. The site is zoned for up to 284 Build-to-Rent units on the vacant, entitled land. According to the announcement, “NexMetro plans to develop Avilla Bella Camino in San Tan Valley. Avilla Homes neighborhoods feature single-story, detached homes with open floor plans, 10-foot ceilings, high-end finishings, and private backyards and front porches.” Harvard Investments’ announcement…

The Tempe City Council last month authorized negotiations to buy a 7.2-acre property at the SEC of Scottsdale and McKellips road for future redevelopment. Plans for the redevelopment of Food City Plaza call for a minimum of 50 affordable housing units, a modern grocery store and a police station and training facility. The center was built in 1977 and currently has approximately 80KSF of leasable space. The site is owned by Michael A Pollack Real Estate Investments. Tempe Economic Development Director Mike DiDomenico told Council at the June meeting the deal was placed on the agenda for approval before final…

By Roland Murphy for AZBEX A new 62-unit townhome development from Zen Investing LLC could soon be coming to the NEC of 81st Avenue and McDowell Road in Phoenix. In its July 1 meeting, Phoenix City Council approved a planned unit development rezoning request for the 4.02-acre site. The project is referred to as the Zen at McDowell Planned Unit Development in the rezoning request and City approval documents and as Zen at Desert Sky in a June pre-application submitted to Phoenix permitting. The plan includes a pool and a central amenity area. Potential amenities, according to the submitted narrative,…

Awards & Accolades 1. The Arizona Department of Transportation’s $70M Loop 303 Interchange project has received an award in the “Quality of Life/Community Development, Medium Project” category in a national competition among state departments of transportation. The competition was sponsored by AASHTO and was presented at the annual WASHTO meeting. Groundbreakings 2. Formation Interest, Crescent Real Estate, Willmeng Construction and the City of Goodyear held a groundbreaking ceremony for the Formation Park 10 industrial development. Phase I consists of two buildings totaling 427KSF and a large park for future tenants and the surrounding community. 3. Fain Signature Group broke ground…

By Roland Murphy for AZBEX – BEXclusive This week, the Surprise Planning and Zoning Commission will consider a rezoning request from RVi Planning + Landscape Architecture on behalf of two property owners to rezone a pair of 40-acre parcels from rural residential to allow for more dense housing development. Both sites were originally included in the planned area development for Surprise Foothills, a 1,040-acre master site roughly bounded by Pinnacle Peak Road/Deer Valley Parkway/Central Arizona Project Canal in the north, 243rd Avenue to the west and 235th Avenue to the east. Since the PAD was created, however, the City of…