Author: BEX Staff

Source: Associated Builders and Contractors National nonresidential construction spending increased by 1.6 percent in January and is up 5.1 percent on a year-ago basis, according to an Associated Builders and Contractors analysis of data published by the U.S. Census Bureau. On a seasonally adjusted annualized basis, spending totaled a record $806.9B in January. Private nonresidential spending rose 0.8 percent on a monthly basis and is up 0.5 percent compared to the same time last year. Public nonresidential construction spending also increased, rising 2.6 percent for the month and 12.3 percent on a year over year basis. “Despite all the focus…

Awards & Accolades 1. Ideation Design Group (IDG) has been named a finalist in the prestigious Airport Experience Awards which honors the best in global airport design, management and concessions. The firm is being recognized for its work on Phoenix Sky Harbor International Airport’s Terminal 3 transformation. Groundbreakings 2. Year Lincoln Property Company joined with local dignitaries and guests to break ground on the first building at Park303, a major industrial master-planned development that at build-out will accommodate up to 4.5MSF of ultra-modern, freeway-fronting Class A industrial space in Glendale. Butler Design Group is the architect for Phase I and…

By Tasha Anderson for AZBEX Owner and applicant, Avenue North LLC recently submitted plans to the City of Phoenix for a new multifamily development to be located east of the NEC of 16th Street and Baseline Road. The applicant is requesting to rezone approximately 7.44 acres on the south side of the Western Canal at 1640 E. Baseline Road from One Family Residence District, Baseline Area Overlay District, to Multifamily Residential, Baseline Area Overlay District. The site is located within 1.66 miles of future light rail, 3,800 feet of South Mountain Community College and 1,700 feet of a major retail…

By Elise Shelton for Surgenights If you ask me, Phoenix pretty much has it all: art, music, nature and nightlife. The only thing missing is a beach… But, come 2021 all of that is changing because- drumroll, please… ARIZONA IS GETTING A BEACH!… Well, sort of. In reality we’re getting a new wave pool. But, this 11-acre wave pool will be something you don’t want to miss. With the newest advancements in technology this park will house wave machines that are capable of generating “1000 waves per hour and can hold up to 90-100 surfers at any given time” according to…

By Christopher Boan for East Valley Tribune Four of Mesa’s six high schools are so overcrowded the district may have to consider building a new one, according to a master plan introduced to the Mesa Public Schools Governing Board last week. The report by Alpha Facilities Solutions also said the overall condition of many schools at all levels pales in comparison with what they’ve seen in other areas – and elementary school buildings, in particular, need major repairs. The report culminates a study of the district’s 901 buildings, representing 8.4MSF of space. Red Mountain is the most overcrowded with 3,457…

By Joe Bousquin for National Apartment Association HQ Since the end of the Great Recession, the hallmark of this apartment cycle has been luxury units, usually located within the urban core, with a slew of amenities. Of course, those kinds of communities don’t come cheap, to develop or to lease. The $300K per-unit development cost this cycle has been justified by the ability to push rents that have gone through the roof as well. In many markets today, $2,500 a month just gets you in the door. The result has been an attainable housing scourge like no other: 49.7 percent…

Giving Back 1. The Sundt Foundation awarded over $80K in grants to 23 Phoenix-area nonprofits during its first-quarter disbursements. The Sundt Foundation awards grants each quarter to area charities that support disadvantaged children and families. Nonprofits are selected through an application process and reviewed by a committee of Sundt employee-owners. 2. The fourth annual Tour de Ren, a high-energy charity spin event benefitting Phoenix Children’s Hospital, will take place from 2:30 p.m. to 5:00 p.m. on April 3rd, 2020 in the outdoor courtyard at Renaissance Square (2nd and 40th N. Central Avenue) in downtown Phoenix. Tour de Ren is hosted…

Sales Transactions 1. Landmark Dividend purchased the 184KSF PayPal Inc. central Phoenix data center at the SWC of Third Street and Indian School Road, for $122M. PayPal will remain as a tenant in the facility. 2. Retail Value Inc. recently closed on the sale of Tucson Spectrum, 1251 W Irvington Road, Tucson, for $84M. 3. 3rd Avenue Investments acquired Colter Park Apartments, a 384-unit complex at 909 W. Colter Street, Phoenix, for $53M, with plans to invest $3M in improvements. The seller was Sheiner Group. The transaction was financed through Brandon Harrington at JLL. 4. MIMG Clix Yardz, LLC purchased…

By Tasha Anderson for AZBEX On the heels of the recently completed Fat Cats Family Entertainment Center at Longbow Marketplace in Mesa earlier this month, FatCats Entertainment is planning another center in Queen Creek. The project, to be located at the NWC of Riggs Road and Ellsworth Road, was approved at the Town of Queen Creek’s City Council meeting on February 5th. FatCats requested rezoning and site approval to amend the Pecan Lakes Planned Area Development to get rid of 18 residential lots zoned R1-5/PAD and increase the C-2 PAD district from 3.3 acres to 7 acres, according to the…

By Adrian Skabelund for Arizona Daily Sun Three affordable housing projects that would have been completed this year have been mothballed after the city’s developer encountered delays. The projects had planned to provide the city with as many as 74 affordable rental units in three locations across Flagstaff and would have been built by Brinshore Development. But after the Flagstaff City Council approved the projects, Brinshore encountered a number of challenges that delayed and eventually ended the project, said city housing manager Justyna Costa. One of the challenges was the cost of building in Flagstaff, which was higher than they first expected.…