Author: BEX Staff

By Adrienne St. Clair for Arizona Builder’s Exchange Miravista Holdings, LLC has submitted a proposal to the City of Tempe to build a mixed-use project just east of Tempe Marketplace and the 2100 Rio developments, and west of the Loop 101. The new development would consist of 260 one- and two-bedroom apartments, a clubhouse and a “Food Hall” – a restaurant/retail combo. The 10.15-acre, two-parcel site, also located on the north side of the Rio Salado Parkway, has historically been vacant or used for industrial or storage purposes. It was previously zoned as a Heavy Industrial District, but the new…

By Adrienne St. Clair for Arizona Builder’s Exchange Phoenix Country Club and Sunbelt Holdings have submitted a rezoning request to the City of Phoenix to build luxury residential condominiums on the NEC of 7th Street and Thomas Road. The new development will have approximately 125 units at about 42 du/ac. There will be 234 unreserved parking spaces for residents. The 2.94-acre site is currently zoned for and being used as a parking lot for the Phoenix Country Club. The developer requests the site be rezoned as Multifamily Residence District, High Rise and High-Density District in order to allow for multifamily…

Sales Transactions 1. Capital Power Corp. has inked a $300M agreement to acquire the Arlington Valley power plant, about 50 miles southwest of Phoenix. It intends to purchase the 580MW natural gas power plant from Oaktree Capital Management LP and its co-investors. The acquisition includes 3,000 acres of land, on which the company said it sees potential for future energy project development. 2. Berkadia’s Art Wadlund and Clint Wadlund closed recently on Pinnacle Heights Apartments, the conclusion of a five-property portfolio sale, worth nearly $128M, representing the highest bulk apartment sale for the Tucson region and setting a new record. The Wadlunds represented MG Properties…

By Roland Murphy for Arizona Builder’s Exchange Arizona’s largest employer is taking a view toward development in Phoenix. Banner Health has submitted a Planned Unit Development proposal to the City of Phoenix, “to create specific standards and guidelines that will serve as a master plan for the future long-term development of the Banner University Medical Center Phoenix. The goal is to replace numerous site plans and stipulations that have been approved over the last 40 years, with a vision for the next 40 years, and a comprehensive set of standards and guidelines to implement that vision.” While short on specifics…

By Adrienne St. Clair for Arizona Builder’s Exchange Ryan Companies has submitted a proposal to the City of Chandler to build a major industrial development at the SEC of McQueen and Queen Creek roads. The site for this new office/industrial/warehouse development sprawls over nearly 80 acres by the Chandler Airport. The final project will total approximately 671KSF, spread between seven-to-nine buildings, depending on market demand. That market demand is currently high, according to a July article in Commercial Executive Magazine, which noted 2.8MSF of speculative space in the Sky Harbor and Southeast submarkets. The article noted this project is part…

Giving Back 1. Archer Western donated nearly 10,000 bottles of water to The Salvation Army to support their efforts with the Red Shield Survival Squad. The Red Shield Survival Squad collects much-needed water and funds, assisting those who suffer through the extreme heat conditions the most – people without a cool place to go during the most excruciating time of year in the Valley. Awards & Accolades 2. GLHN Marketing Coordinator Tiffany Gorrell was awarded an SMPS Arizona Phelix Award in the Project Pursuit Category for her design of a proposal for the Catalina Foothills School District. Gorrell and GLHN’s Phoenix office lead, Russ Combs, accepted…

Giving Back 1. Stantec is assisting the community of Taylor with a comprehensive drainage project for the town’s economically critical Taylor Rodeo Grounds in partnership with Engineers Without Borders USA. Stantec is assisting with drainage system design and flood mitigation services to help minimize the impact of storm events on the rodeo’s operations for the town’s more than 4,000 residents. Groundbreakings 2. A project to preserve the pavement and make improvements along a 12-mile section of US 191 east of Safford began on Monday, Sept. 10. Drivers on a section of US 191 between US 70 and SR 75 should…

AZBEX Staff for Arizona Builder’s Exchange The planned expansion at Banner Boswell Medical Center in Sun City is expanding even more, healthcare giant Banner Health has announced. Along with Sun Health Foundation, the company announced plans in March for the construction of a new $60.4M emergency room on the campus. The 40KSF Emergency Department will provide 33 percent more patient beds and faster, easier access to emergency medical treatment. Last week, however, Banner Health’s board of directors approved expanding the project to include construction of a new six-story patient tower shell, as well. The new tower shell will represent an…

By Tasha Anderson for Arizona Builder’s Exchange The latest hot topic on the AZBEX Leading Market Series list was Public Spaces, and attendees gathered at the DoubleTree by Hilton Tempe on Thursday, Sept. 6 to gain insight into the market and any upcoming opportunities. AZBEX President Rebekah Morris explained the slightly vague “Public Spaces” title of the series as, “We’re looking at parks, we’re looking at libraries, police stations, fire stations, city halls, etc.” Morris began the presentation by once again giving attendees a brief overview of the market with analytics taken from the AZBEX Database. “We’ve got it (the…

By Roland Murphy for Arizona Builder’s Exchange Last week the City of Maricopa took a major step forward in the long-sought-after development of its Copper Sky Commercial Site and entered into an agreement with Tempe-based Commercial Properties, Inc. to bring the project to fruition. Maricopa released an RFP in February “to transform the Copper Sky Commercial Site into a high quality mixed-use destination.” (AZBEX, Feb. 27) AZBEX Research staff discovered CPI was selected as the developer in May. Under the new agreement the firm will develop the master plan and identify partners for creation of the site’s various components. The 18.3-acre site…