Author: BEX Staff

By Roland Murphy for AZBEX Lafferty Development is requesting a rezoning for 1.16 gross acres at the NWC of Madison and 13th streets in Phoenix to allow the creation of Madison Street Apartments, a 160-unit, 10-story multifamily community. Plan Details The site is currently split between multifamily zoning with a transit-oriented overlay and commercial office with a transit-oriented overlay. Lafferty has requested rezoning under Phoenix’s Walkable Urban Code, specifically: Walkable Urban Code, Transect 5:7 District, Transit Eastlake-Garfield Character Area. The property is located within 250 feet of the 12th Street / Washington / Jefferson light rail stations, according to the…

Amkor Technology has shifted its planned $2B semiconductor chip facility out of Vistancia and onto a new location in the Peoria Innovation Core. The City of Peoria was the only bidder in an Arizona State Land Department auction earlier this week for 834.5 acres of State Trust land. Peoria’s bid was $46.7M. Amkor will build its new plant on 104 acres within the newly purchased site northwest of Loop 303 and Lake Pleasant Parkway, known as Core 2 of the innovation core. The move appears to be a win-win for all involved. Many Vistancia area residents were adamantly opposed to…

By BEX Staff for AZBEX Vestar and Pacific Proving LLC have disclosed plans for Legacy Park, a new mixed-use master plan on approximately 200 acres at the NEC of Ellsworth and Williams Field roads in Mesa. Local news outlets report the developers are referring to the $1B-plus plan as an “urban oasis” that will have a significant impact on the quality of life for residents in Mesa, Gilbert, Queen Creek and the rest of the Southeast Valley. Pacific Proving has owned the vacant site for approximately 20 years. Plans for Legacy Park have been under consideration for more than three…

The Buckeye City Council discussed the annexation of more than 1,900 acres of agricultural land near Verrado Way and MC85 for an eventual industrial hub during its Aug. 26 meeting. The prospective industrial center would cater to advanced manufacturing, data centers, battery storage facilities and similar industrial prospects. If the agricultural land is annexed, it would combine with a portion of land already owned by the City of Buckeye that would total 2,271 acres. If the City were to pursue an industrial district, it could later rezone the entirety of the land as a Community Master Plan. Ultimately, the nearly…

Groundbreakings 1. Phoenix Union High School District recently began construction on the transformation of its Metro Tech High School campus, located at the NWC of Thomas Road and 19th Avenue. This $82M comprehensive, multi-phased project, designed by DLR Group and built by McCarthy Building Companies Inc., will feature more than 150KSF of renovations in addition to the construction of a new 22.5KSF competition gymnasium and new sports fields. Completion is expected before the 2027-2028 school year. The project will serve to modernize and reimagine the campus to enhance its 20 Career & Technical Education programs with real-world practice and public-facing…

By Roland Murphy for AZBEX Developer Bourn Companies and property owner Red Point Development have submitted a request to the Town of Marana to amend two existing specific area plans east of Interstate 10 and northwest of Twin Peaks Road and consolidate 752.5 acres under a new plan to facilitate development. The proposal for the Cascada II Specific Area Plan would combine properties currently under the Cascada and Cascada North specific plans for a master plan that includes commercial, residential and industrial components. The two current plan areas total 1,562 acres, and the revised plan would “consolidate the remaining area…

By BEX Staff for AZBEX Having paid $136M for the site in a June Arizona State Land Department auction, Mortenson Development is moving ahead with its plans for 217 acres at the NWC of Scottsdale Road and Loop 101 in north Phoenix. The site was once proposed for an entertainment district and arena for the Arizona Coyotes before the team relocated to Utah. Phoenix City Council will consider a proposed development agreement for public infrastructure with the company as part of its Aug. 27 meeting. After Council authorizes the process, the City of Phoenix and Mortenson will have 12 months…

By Arizona Office of Economic Opportunity and BuildItAZ The Arizona Office of Economic Opportunity is launching Round 3 of the BuildItAZ Apprenticeship Initiative—investing another $2M in federal capacity-building grants to expand high-quality registered apprenticeships across the state. This effort aims to double the number of registered construction and trades apprentices by the end of 2026. This is the third round of grants within Gov. Katie Hobbs’ BuildItAZ Apprenticeship Initiative connecting Arizonans to industry-led, construction career pathways. The $2M in federal workforce grants, along with $1.65M in BuildItAZ grants previously awarded, are focused on helping eligible apprenticeship programs: Increase capacity through…

Giving Back 1. Brycon supported the Arizona Chapter of the American Concrete Institute at its recent bowling event. The event was held on Aug. 1 at BOWLMOR Lanes at 9027 E. Via Linda in Scottsdale. 2. A year-round partnership has been formed between myHAUSING and the Arizona Housing Fund. The partnership pledges $1K for every unit sold. myHAUSING will donate $2.5K for every unit sold from Oct. 15-18 at the Barrett-Jackson Scottsdale Fall Auction. Buyers will also be offered $1K when they give a direct donation of $25 or more to the Arizona Housing Fund. Boards & Commissions 3. Mesa…

Sales Transactions 1. Longpoint Partners acquired Stetson Village, a 144.2KSF Safeway-anchored shopping center at 3780-3890 W. Happy Valley Road in north Phoenix, for $71M. CBRE represented seller Pederson Group and buyer Lena Centers, a subsidiary of Longpoint. The property sits on 18.6 acres and is fully leased. 2. Goodman Real Estate has paid $49M for the 135-unit Build-to-Rent community Annex at Cadence in Mesa. The property was developed in Eastmark by Newport Homes. Seller Cadence MFP135 Land Group LLC was represented by Northmarq’s Trevor Koskovich, Jesse Hudson, Ryan Boyle and Logan Baca. 3. Principal Asset Management and IRA Capital acquired…