Author: BEX Staff

By CJ Jorgensen for AZBEX The University Governance and Operations Committee of the Arizona Board of Regents approved Arizona State University’s proposed Fiscal Year 2027-2030 Capital Improvement Plan during its Sept. 11 meeting. The CIP calls for $312M in development in 2027. In FY 2027, ASU is proposing seven line items. The executive summary states the projects are all aligned with ASU’s goal of having sustainable facilities and infrastructure. Part of the ASU Enterprise Strategic Framework is to provide students and staff with proper facilities and infrastructure. The investments go hand in hand with the goal to improve the graduation…

On Sept. 22, the Maricopa Planning and Zoning Commission unanimously approved rezoning for a 9.33-acre medical campus near Copper Sky Regional Park. The BR Companies proposed altering the land from D3 Copper Sky Planned Area Development to Copper Sky Medical Campus Planned Area Development. Commissioners noted the request is only to redesignate a portion of the PAD and that it is not a design review. The land is currently owned by the City of Maricopa. The proposed location sits at the SEC of West Bowlin Road and North John Wayne Parkway, adjacent to the 98-acre park. The location is part…

The Danelle Plaza Redevelopment plan is moving forward as the Tempe Development Review Commission recommended approval of a rezoning to allow mixed-use developments. The 14-acre lot is currently anchored by Yucca Tap Room. As of now, the site only allows commercial development. The site was initially constructed in the 1960s and has been the subject of various revitalization efforts. If City Council votes to approve the mixed-use rezoning, multifamily developments will be eligible for construction. The change to mixed-use would allow a density of 45 units/acre. The site could accommodate a maximum of roughly 630 dwelling units. According to Gammage…

Giving Back 1. MC Companies held its fourth annual Volunteer Day on Sept. 10, with employees across Ariz., Nev. and Texas supporting local food banks and nonprofits. Teams prepared and distributed thousands of meals and food boxes, including more than 5,000 emergency food boxes in Phoenix. The initiative is part of the company’s Sharing the Good Life Foundation. 2. The Arizona Masonry Council will host the 2025 Masonry Expo on Oct. 18 at Oldcastle’s Lone Butte Plant in Chandler. The event will feature high school, apprentice and professional competitions, including the Fastest Trowel on the Block, which also serves as…

Sales Transactions 1. The Neiders Company purchased U@19th, a 236-unit real estate-owned midtown Phoenix apartment complex, for $36.1M. Northmarq represented the seller, BrightSpire Capital. The property was renovated in 2024. The community offers one-, two- and three-bedroom floorplans averaging 875SF. 2. NextWave Investors has acquired Ascension at Manistee Ranch, a 71-unit build-to-rent community in Glendale, for $23.5M. Developed and sold by Kinella Capital, the townhomes average 1.4KSF and include two- and three-bedroom layouts with garages. Cushman & Wakefield advised the seller. 3. EQT Real Estate purchased Latitude 303 Logistics, a two-building industrial project totaling 906.6KSF in Glendale, for an undisclosed…

By Diversified Partners Developer Concord Wilshire Capital announced it has completed demolition of the mall and Oakwood Homes has been named the exclusive residential builder for The Metropolitan, an $850M mixed-use destination project. The 64-acre development is set to transform the former site of the Metrocenter Mall into a walkable urban village integrating Light Rail with housing, entertainment, dining, and retail. “We are pleased to announce that we have selected Oakwood Homes, a division of Clayton Homes and a subsidiary of Berkshire Hathaway, as our exclusive residential builder and partner for The Metropolitan project,” said Nate Sirang, president of Concord…

By Roland Murphy for AZBEX Construction costs and market fluctuations are combining to create a market picture of surface stability with uncertain undercurrents. According to the Rider Levett Bucknall Q3 2025 Quarterly Construction Cost Report, the U.S. Department of Commerce reported construction put in place in July was estimated at $2.14T. While healthy, that total was 0.1% less than the revised June estimate and 2.8% less than the July 2024 revised estimate of $2.20B. In terms of general market data, the U.S. Gross Domestic Product saw a percent change of 3% over the quarter, after having fallen 0.5% in Q2.…

By BEX Staff for AZBEX Despite a general hesitancy to give up commercially designated parcels for multifamily development, Peoria City Council recently approved a minor General Plan amendment and rezoning for a five-acre site at the NEC of Northern and 87th avenues. Developer Northern Ave Properties LLC requested the changes to develop a 72-unit multifamily community made up of five two-story buildings. A local news outlet reported planning staff said several factors had changed since the property was originally zoned and that commercial development was unlikely. According to the staff report, “The site is unusually long and narrow (166.47′ wide…

By BEX Staff for AZBEX In its Sept. 23 meeting, Glendale City Council heard a presentation outlining a request from Evergreen Devco to annex 39 acres near the SWC of Sarival and Peoria avenues. A local news outlet reported the land currently sits in a Maricopa County island and has a County zoning designation that equates to Rural Residential. A single-family house and an accessory building are currently on the property. If Glendale annexes the site, it will initially be rezoned to Rural Residence. Staff is simultaneously working on a rezoning request to Planned Area Development, according to the staff…

Valutek is planning to construct a 45KSF headquarters between 12th and 14th streets near Sky Harbor International Airport. While most of the headquarters will be a warehouse, it will also include 5KSF of office and 5KSF of clean room manufacturing space. Valutek is a supplier of gloves, boot covers and similar products for use in laboratories. The headquarters is planned on 16 parcels currently owned by the City of Phoenix. Currently, the parcels are within a noise mitigation corridor, and the City is attempting to sell parcels to redevelop the area. The Phoenix City Council approved selling the site to…