Author: BEX Staff

Groundbreakings  1. Construction is underway on the three-story Chandler Medical Plaza office building at 1125 S. Alma School Road in Chandler. The 65KSF medical office property is 38 percent preleased.  2. The Downtown Links Phase III project in Tucson is expected to begin construction this month with an estimated completion date of January 2023. Granite and Borderland Construction have been awarded the $26M CMAR contract.  Progress Reports  3. StreetLights Residential is nearing completion on The Ryan, a 17-story high-rise which includes 332 luxury apartments housed within the Block 23 community in Downtown Phoenix. StreetLights Creative Studio led in the urban planning and concept design of The Ryan, as well as leading the design teams of OMNIPLAN, Perkins + Will and Ink & Oro. Whiting Turner was the general contractor.  4.…

By Tasha Anderson for AZBEX  A new Class A, luxury multifamily development is being proposed within the Eastmark Planned Community District in Mesa.   The +/- 14.02-acre site is currently undeveloped and is located at the SEC of Ellsworth Road and Point 22 Boulevard at 5029 South Ellsworth Road, in a Mixed-Use Community character area of the city’s General Plan.  The applicant and developer, PCS Development, on behalf of the owner, DMB Mesa Proving Grounds LLC, is requesting site plan approval for the 320-unit development known as 2.0 at Eastmark or The Premier at Eastmark 2.0 as the site plan shows. The City of Mesa’s Planning and Zoning Commission heard and recommended…

Resources  Maricopa County Small Business Grant Opportunities  A number of Small Business Grant Opportunities remain available for businesses in Phoenix, Mesa and the rest of Maricopa County. Interested parties should follow the link(s) relevant to their location for more information. (Source: City of Phoenix Community and Economic Development) 

By Cesar Neyoy for Yuma Sun  The Comite de Bien Estar will be able to offer $2M in federal tax credits as incentives to attract investors in a planned apartment complex in San Luis for low-income families.  Valley View apartments is one of 13 projects around the state approved by the Arizona Department of Housing for the credits through the state agency’s Low-Income Housing Tax Credit program for 2020.  Tony Reyes, executive director of Comite, said he hopes the inducement of tax credits will enable the nonprofit organization to line up financing by the end of the year for the 100-unit apartment complex planned on the city’s north side.  The Valley View complex…

Source: Associated Builders and Contractors  The U.S. economy contracted at an annualized rate of 32.9 percent during the second quarter of 2020, according to an Associated Builders and Contractors analysis of data by the U.S. Bureau of Economic Analysis. Nonresidential and residential fixed investment contracted by 27.0 and 38.7 percent, respectively, while investment in nonresidential fixed structures contracted by 34.9 percent.   Statistically, the decline in national output is attributable to multiple factors, including significant declines in personal consumption, exports and private inventory investment.  “Despite construction’s status as an essential industry in most cities and states, the sector did not escape the wrath of COVID-19 during the…

Awards & Accolades  1. Heather Honsberger, Area Business Development Leader for HDR, Inc., received the 2020 WTS Metropolitan Phoenix Member of the Year award.  2. Judges for the PCBC’s 2020 Annual Gold Nugget Awards have recognized KTGY Architecture + Planning at its annual competition in 13 different categories with 15 awards. KTGY was recognized in a variety of categories including innovative housing design and energy design, unique residential detached housing, best single-family detached home, best affordable housing community, best multifamily housing community, best age-qualified senior living community, best service-enriched senior community and best student or faculty housing.  Boards & Commissions  3. Lisa Saldin with WSP has been appointed to the WTS Metropolitan Phoenix Chapter Board of Directors as…

Sales Transactions  1. Knightvest Capital purchased Signature Place, a 300-unit multifamily community at 600 W. Grove Parkwayin south Tempe for $62.5M. CBRE’s Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch of Phoenix Multifamily Institutional Properties represented the seller, Western Wealth Capital.  2. A joint venture between AEW Capital Management and Condor Cold Storage, a division of the real estate investment firm Brookhollow purchased the Café Valley Headquarters, a 285KSF, Class-A food processing and cold storage facility located within the Estrella Commons Business Park, for $42M, from Cornerstone Arizona. The Lee & Associates investment team of Ross Sanzari, Greg Guglielmino, Marcus Muirhead, and Steve Gonzalez handled the transaction.   3. Logan Capital Advisors purchased the Pacific Bay Club, a 192-unit multifamily community in Ahwatukee for $35.7M. CBRE’s Tyler Anderson,…

By Tasha Anderson for AZBEX  The Arizona Department of Emergency and Military Affairs is looking for a firm to provide design-build services for the 70KSF Rita Road Readiness Center to be located at 7901 S. Rita Road in Tucson.  A Request for Qualifications was recently issued for the design, permitting, site preparation and construction of the new facility for the Arizona Army National Guard.  Around the same time last year, the Department issued an RFQ for a firm to provide design build criteria consultants and technical advisory services to help create these solicitation documents along with a geotechnical investigation, evaluation criteria, performance specifications and more. DWL Architect + Planners, Inc.…

Budget, Policy & Stimulus News  Republicans Unveil New $1T Relief Package  Republicans in the U.S. Senate unveiled a roughly $1T stimulus package, titled the HEALS Act, geared toward reopening the economy. Key provisions include stimulus checks to individuals and a host of small items for businesses, but it also contained a number of changes and adjustments to the Small Business Administration’s $659B Paycheck Protection Program. (Source: Phoenix Business Journal)  Economic News  How to Prosper Post-Pandemic  A recent article by AZ Big Media compiles the thoughts and recommendations of business, accounting and financial operations leaders on how companies can benefit from the new “be prepared” approach to crisis response and maintain…

By Raquel Hendrickson for inMaricopa  One planned project brought out frustrations entailed in the City of Maricopa’s General Plan and how traffic flow is designed.  Though the Planning & Zoning Commission unanimously recommended El Dorado Holding’s Rev Development to the city council for approval, commissioners and staff used the opportunity to push for change.  Rev is planned as a 25-acre residential and commercial area on the SEC of Bowling Road and Porter Road. It was before the commission asking for a minor General Plan amendment and a zoning change. The residential portion of the project is to be a gated complex of 200 rental housing units.  Those units…