Author: BEX Staff

Giving Back 1. Devereux is breaking ground next week on a therapeutic treatment facility that focused on youth under the age of 12 healing from severe abuse. The residential treatment center is on a 10-acre campus where youth live and attend school while receiving treatment for emotional, mental, behavioral and substance abuse challenges. Architectural Resource Team Inc. is the project architect and Delta Construction is the general contractor hired to replace and expand the 48-bed facility to accommodate up to 52 youth. Groundbreakings 2. Orbital ATK will hold a groundbreaking for its Chandler facility expansion on April 25. 3. For years, Yuma’s…

By Rebecca Spiess for Downtown Devil A bill amending the application of a controversial Arizona tax incentive has passed through the legislature and awaits Governor Doug Ducey’s signature. The measure, House Bill 2126, passed after it was heavily amended following a long negotiation process. The bill would change slum and blight definitions and specifications regarding the size of the city’s Central Business District. It would also require that slum and blight designations be renewed every 10 years. Additionally, the city would have to review its CBD by October 2020. These designations would directly affect the requirements of areas that qualify…

By Roland Murphy for Arizona Builder’s Exchange Four lots, three with existing uses and one vacant owned by the City of Tempe, are looking to combine into the area’s newest mixed-use proposal, if all goes according to plan. All told, the newest development will feature 55 workforce housing units as part of a Development and Disposition Agreement between Tempe and Gilbane Development Company. “Development Plan Review which includes: a five-story building with nine market rate apartments and 55 work force residences and a six-story and a seven-story building, with 327 student housing units and approximately 12KSF of restaurant and retail…

Sales Transactions 1. CBRE announced the $31.15M sale of a 426-unit multifamily portfolio consisting of one- and two-bedroom casitas in 28 communities across the greater Tucson area. CBRE’s Tucson capital markets team comprised of brokerage, debt and equity and appraisal services all contributed to the transaction. The buyer, HZ One, LLC, a Tucson-based venture led by Chris Kemmerly, Marcel Dabdoub and Ike Isaacson, plans to brand the portfolio as San Xavier Casitas. 2. ABI Multifamily announced the $11.75M sale of the Del Sol Apartments in Glendale. Del Sol is a one- and two-story, garden-style apartment community that features 218 units…

Giving Back 1.CoreNet Global Arizona is taking part in a Habitat for Humanity Build Day on April 21 from 6:30 a.m. to 1 p.m. at the Kala Roy Home, 921 S. Montezuma St., in Phoenix and is looking for volunteers interested in participating. No construction experience is necessary. 2. The Scottsdale 20/30 Club is organizing the annual fundraiser for ‘Brokers for Kids’, an Olympiad event that makes up more than 70 residential and CRE teams. This year is about to break fundraising records from all the support in the valley. The event is Friday, April 13 at Scottsdale Stadium. Awards &…

By Roland Murphy for Arizona Builder’s Exchange Management consulting and investment banking term FMI, which is, “dedicated exclusively to engineering and construction, infrastructure and the built environment,” has released its, “Construction Outlook First Quarter Report,” and is forecasting a 7 percent increase in total construction and engineering spending across the U.S. in 2018. For comparison, 2017 ended the year with a 4 percent increase. The three major sectors leading the growth trend will be residential improvements at 12 percent, office at 9 percent and single-family residential at 7 percent. Commercial, Healthcare, Education, Public Safety, Amusement/Recreation, Transportation, and Communication are also…

By Rebekah Morris for Arizona Builder’s Exchange Go for a drive any Saturday morning through commercial construction hotspots like Downtown Tempe or between the 7s (Ave & St in Phoenix), and you’ll see crews racing through framing and other trades visible from the street. Market sectors from highways and transit to multifamily and industrial are seeing high levels of activity. Then why are companies like CSW Contractors, McGough, Turner Construction and Johnson Carlier seeing staff reductions? It’s complicated. Bad Deals Back East One day in last month CSW Contractors unexpectedly ceased operations, laying off approximately 200 people in the Phoenix…

Awards & Accolades 1. Phoenix Business Journal has published its list of Phoenix Area Luxury Apartments, ranked by unit count. Number 1 was Optima SonoranVillage in Scottsdale at 592. Groundbreakings 2. Medieval Times Dinner & Tournament broke ground on its Phoenix-area location at the Salt River Pima-Maricopa Indian Community’s Talking Stick Entertainment District. 3. The intersection of Piceno Drive and Cadena Avenue will be part of street improvements stated to begin this month in Plaza I, one of the oldest neighborhoods in San Luis. 4. Pilkington Commercial Company hosted a groundbreaking ceremony at the site of the future 30KSF MPW…

By Roland Murphy for Arizona Builder’s Exchange An intersection that could once only be (charitably) described as, “Gritty,” is the latest planned development spot spurred on by light rail and associated urban renewal projects. United Capital Partners, LLC and VIVO Development Partners are proposing to create the C17 luxury multifamily project on the SWC of 17th Avenue and Camelback Road. The proposal calls for 330 market rate units in a building with a 9.8KSF footprint. The luxury component will consist of six floors of residential over two levels of podium parking, 4KSF of ground floor gallery/retail and 30KSF of amenity…

By Tasha Anderson for Arizona Builder’s Exchange Last month, AZBEX began the Leading Market Series, a new monthly event that focuses on a specific market sector and brings in top owners for a panel discussion on what they have in the works. While higher education was the topic of choice for March, this time attendees gathered at the DoubleTree by Hilton on Thursday, April 5th for an update on the healthcare market. The presentation began with a brief glance into the state of the healthcare market as of the end of 2017, using information collected from the AZBEX Database. “Healthcare…