Author: BEX Staff

By Tasha Anderson for AZBEX The City of Goodyear recently approved a rezoning request for approximately 8.19 acres located east of the SEC of Bullard Avenue and McDowell Road in Goodyear, for the development of a new senior living community. The request, approved at Goodyear’s June 24th City Council meeting, was to rezone the site from General Commercial to Multifamily with Planned Area Development Overlay. The developer, Sparrow Partners, is proposing to develop a “high-quality, 180-unit multifamily community designed to accommodate active adult living with appropriate amenities.” The 55+ community will consist of 124 one-bedroom units and 56 two-bedroom units…

Source: Trammell Crow Company Trammell Crow Company (TCC) announced plans for a new Class A speculative commerce park in Metro Phoenix. The project will sit on 48 acres and be comprised of one to three buildings totaling approximately 700KSF. The site is located on the Gila River Indian Community (GRIC), at the SWC of Loop 202 and 40th Street and positioned along the new South Mountain Loop 202 Freeway currently under construction with completion slated for by the end of the year. Construction of TCC’s commerce park is scheduled to commence in December 2019 and be complete September 2020. “The…

Awards & Accolades 1. Achen-Gardner’s Downtown Chandler Canal Restoration Project has won the Project of the year Award from Arizona APWA in the Historical Restoration/Preservation, Less Than $5M category. Groundbreakings 2. Thompson Thrift Retail Group has begun construction on the first phase of Sunrise Promenade, an 8.5-acre retail project just south of the SEC of Lake Pleasant and Happy Valley. Phase I of the project will consist of approximately 20KSF of retail space plus a 22KSF Aldi grocery store. Phase II will accommodate up to an additional 45KSF of retail space and be jointly marketed by Tyson Switzenberg and Tim…

By Rebekah Morris for AZBEX The last two parts in the series on rising construction costs focused on labor and materials specifically. Beyond tracking the most direct inputs of increased cost of labor and materials is the nuanced and indirect cost increases. We’ll attempt to explore some of the market conditions also playing into this trend in this piece. Demand is Outpacing Supply Ask anyone in the construction industry how things are going and you’re very likely to get some variation of the response ‘Very Busy’. More precise descriptions include: at or near record levels of both revenue and backlog…

By Rebekah Morris for AZBEX This five-part series has touched on the specifics of why construction prices have been increasing so fast in the last 12-18 months. This piece summarizes a few options for solutions on how to handle a price that is significantly over the budget price. Understand the reasons for the overage. It’s now been well documented that every aspect of the construction sector is experiencing high levels of activity and that total prices have increased substantially since the beginning of 2018. Now a year and a half later, budget numbers created before the recent run-up are not…

Giving Back 1. In an effort to support military service members, TDIndustries partnered with Operation Gratitude, a nonprofit group that provides care packages to deployed troops, new recruits and veterans. Across its seven locations in Texas and Arizona, TD donated 500 pounds of supplies and assembled 600 survival bracelets. The supplies include toiletries, batteries, snacks, weather-appropriate accessories and comforts from home. Awards & Accolades 2. Sundt Construction, Inc. has again been named a CEO Cancer Gold Standard™ employer for 2019. This accreditation is given by the CEO Roundtable on Cancer, a nonprofit organization of leading CEOs. To earn the CEO…

Sales Transactions 1. Baron Properties has purchased the SanTan by Baron, a 315-unit garden-style apartment community in Gilbert for $67.85M. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE in Phoenix represented the seller, Pillar Communities & Private Portfolio Group. The community was originally named Pillar at SanTan. 2. Newmark Knight Frank (NKF) has announced the sale of the Wells Fargo Building at Papago Park, 1150 W Washington St., Tempe, for $52.4M. NKF Executive Managing Director CJ Osbrink, Co-Head, U.S. Capital Markets Kevin Shannon and Executive Managing Directors Paul Jones, Ken White, Rick Stumm, Brunson Howard, and Mike…

By Tasha Anderson for AZBEX A mostly overlooked street in Old Town Scottsdale is proposed as the site for a new high-end multifamily residential development. Withey Morris PLC, on behalf of Denver-based developer The Morgan Group Inc., recently submitted plans to the City of Scottsdale for the development of an eight-story, 199-unit luxury apartment building called Bishop Lane. The project will sit on a 1.54-acre site at the SWC of 2nd Street and Bishop Lane in Old Town and The Morgan Group is requesting rezoning approval from Highway Commercial, Downtown Overlay to Downtown/Downtown Mixed-Use Type 3, Planned Block Development Downtown…

Groundbreakings 1. Virtua Partners has broken ground on a 90-unit entry-level apartment complex on a vacant lot at 1980 East Broadway Rd, Tempe. The apartment project will include 36 one-bedroom, 45 two-bedroom and 9 three-bedroom units along with parking and a fitness center, to be delivered in approximately 16 months. 2. Tower Capital has secured $44.5M in funding for the development of The Elux at Deer Valley, located at 19th Avenue and Happy Valley Road. A community of 212 single-family rental homes that underscores the demand for single-family rentals in the Phoenix market. The first units will become available mid-2020.…

By Rebekah Morris for AZBEX Part 2 in a series on overall construction cost increases In early June, more than 100 A/E/C professionals gathered at Sky Song to hear a large roundtable discussion about Rising Construction Costs put on by BEX. Moderator and BEX President and Founder, Rebekah Morris guided the discussion between three types of firms: General Contractors: Mike Bontrager, President of Adolfson & Peterson Construction, Roger Rowley, Pre-Construction Manager for Hunter Contracting; Subcontractors: Mike Greenawalt, Senior Vice President of Rosendin Electric; Brian Scherer, Director of Business Development, Bell Steel; Andy Clarke, General Manager for Roofing Southwest; Materials Suppliers:…