Author: BEX Staff

After years of negotiations between the developer, nearby residents, local officials and other stakeholders, a mixed-use development with 114 student housing units, 30 workforce affordable units and 3KSF of retail space is finally ready to move ahead in Tucson. As part of the Capstone Speedway/Euclid Mixed-use development, five historic homes on the site will be relocated onto empty lots in the neighborhood and infrastructure improvements including 2,500 feet of sidewalks with 17 Americans with Disabilities Act-compliant ramps will be built leading to Catalina Park. The proposed development is located at the SEC of Speedway and Euclid Avenue in the West…

Phoenix Mercury and Phoenix Suns owner Mat Ishbia has announced plans to build a $100M-plus practice facility for the Mercury that includes a campus for employees of both teams. Ishbia said the 123KSF facility—part of an existing warehouse renovation three blocks from the Footprint Center—represents an investment in both the Mercury and in women’s basketball. He said he wants the facility to be ready by the start of the 2024 season. The Mercury practice space is planned for 58KSF out of the 123KSF total and will include a fitness center, 10 baskets, a locker room, film room and hydrotherapy facilities,…

U.S. multifamily demand and delivery remain high, despite an extensive set of economic challenges, and Phoenix leads the top 10 metro areas in the country for new unit deliveries in the first half of 2023. Data from Yardi Matrix shows 154,366 units delivered nationwide in the first six months of the year, an increase of 0.6% from the 153,314 units delivered in the same period of 2022. In metro Phoenix, 8,062 units were delivered across 36 properties in the first half of 2023. Phoenix is the only top 10 metro that delivered more units in the first half of 2023…

By Roland Murphy for AZBEX – BEXCLUSIVE Developer The Richman Group is requesting a Planned Unit Development rezoning for Helen Drake Village, a planned expansion to the Helen Drake Senior Center near 27th and Northern avenues in Phoenix. The 4.7-gross-acre site houses the current 14KSF senior center, which offers enrichment programs, field trips, art and educational classes and other activities for community seniors. The expansion will renovate the site and provide 80 new affordable senior multifamily residential units in the first phase. Project owner the City of Phoenix Human Services Department issued a Request for Proposals last December as part…

Faced with a shortage of heavy equipment drivers to serve the projects in its pipeline, Gila County has implemented a new approach to workforce development. County public works officials developed a plan that overhauls the system for hiring, training and promoting public works employees. The plan relaxes existing hiring requirements and then ensures new hires get the training they need to advance in their positions. A federal commercial driver’s license requires both classroom and behind-the-wheel training. Under the new program, Gila will hire drivers without a license in place, give them on-the-job training, require passing the written test within three…

By Associated Builders and Contractors The construction industry added 11,000 jobs on net in September, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has increased by 217,000 jobs, an uptick of 2.8%. Nonresidential construction employment decreased by 1,300 positions on net, with contraction in 2 of the 3 subcategories. Nonresidential specialty trade lost 3,300 positions, while nonresidential building lost 200 jobs. Heavy and civil engineering added 2,200 jobs. The construction unemployment rate decreased slightly to 3.8%, while unemployment across all industries remained unchanged at…

Giving Back 1. Nonprofit Homeward Bound and McCarthy Building Companies recently celebrated the completion of a laundry room renovation at the Thunderbird’s Family Village on West Colter Street in Phoenix. Called the “Loads of Love” project and enabled by an in-kind donation from McCarthy, the project will improve the quality of life for Homeward Bound residents. Awards & Accolades 2. The Arizona Masonry Council hosted the 2023 Excellence in Masonry Architectural Awards. Category winners are: Monument/Entry Way Citation Awards: Jorde Farms North Entry Monument, Combs Ranch Monument/Entry; Residential Perimeter Walls Citation Award: Alamar Perimeter Walls; Residential Citation Awards: Lot 16…

Sales Transactions 1. KKR & Co., Inc. sold The District at Scottsdale, a 332-unit luxury apartment complex, for $161.5M to Fairfield Residential. The complex includes a four-story residential building and two clubhouses totaling more than 382KSF. 2. Brookfield Corp.’s 1.1MSF Park Place Mall in Tucson has sold for $87M in a foreclosure auction. Pacific Retail Capital Partners has been appointed to manage and lease the property. 3. Lafferty Development has completed the second stage of its two-stage, $55M sale of 2051 Apartments, a 200-unit development in Prescott. The buyer was Kodiak 2051 Operator LLC. Lafferty was represented by Todd Braun…

Cactus Portable Pods, a subsidiary of Portable On Demand Storage, or PODS, will build a 100KSF warehouse facility on 7.82 acres at 1901 W. Cooper St. The facility will serve to house portable, climate-controlled moving and storage pods. Construction is expected within the next two years. (Source)

By BEX Staff for AZBEX The Casa Grande Planning and Zoning Commission will consider three major multifamily projects in its meeting this week. The first project under consideration is known as FLATZ 387. P&Z will consider a major Planned Area Development amendment to a 10.33-acre location in the McCartney Center PAD from commercial land use to multifamily to allow the creation of a 247-unit apartment community. Developer Z Modular has selected STG Design as the project architect. No general contractor or construction timeline have been announced. The second development is a rezoning request from Maximillian Investment Company to change 18.5…