Author: BEX Staff

By AZBEX Staff for Arizona Builder’s Exchange As part of its Capital Campaign to raise funds for facility upgrades and a new sports center, The University of Arizona this weekend released details and images for five planned projects: Arizona Stadium Renovations and Upgrades McKale Center Hillenbrand Aquatic Center Hillenbrand Stadium Indoor Sports Center The total $66M Capital Improvement Plan for sports facilities was approved by the Arizona Board of Regents in September of last year. Student fees, media rights revenue and donor contributions will help fund the projects. Work is already underway on the $25M Arizona Stadium renovation, which will…

By Orbital ATK and AZBEX Staff for Arizona Builder’s Exchange Arizona Governor Doug Ducey, Chandler Mayor Jay Tibshraeny and Orbital ATK announced the expansion of the company’s launch vehicles operations onto a new campus in Chandler. Chandler City Council approved a resolution and rezoning to support the development of the new Orbital ATK campus at Willis Road along Chandler’s Price Corridor, known for being home to companies focused on advanced business services, aerospace, life sciences, sustainable and high technology research and manufacturing. With the expansion, Orbital ATK will occupy 617KSF in two buildings on a 47-acre campus. Manufacturing space will…

By Roland Murphy for Arizona Builder’s Exchange Kaplan Management Company earned approval last week from the Chandler Planning & Zoning Commission for its plan to build a 4-story, 320-unit multifamily project at the NWC of Frye Road and 95th Street, east of Dobson Road. The company was seeking rezoning from Single Family Residential to Planned Area Development for Multifamily Residential with a Mid-Rise Overlay for building heights up to 50 feet, as well approval for its Preliminary Development Plan. The neighborhood has been designated as a Growth Area, and Frye Road is considered a High Capacity Transit Corridor. “A variety…

Sales Transactions 1. CBRE negotiated the $54M sale of Tuscany Ridge, a 336-unit Class A multifamily community, in Peoria. Tyler Anderson, Sean Cunningham, Asher Gunter and Matt Pesch with CBRE Multifamily Institutional Properties in Phoenix represented the seller, a New York City-based pension fund advisor. The buyer is a JV partnership between Gerry Ranglas/RV Management, Wermers Properties and Loma Linda University Endowment. Mike Dow of Impact Multifamily Advisors negotiated the deal on behalf of the buyers. PCCP, LCC provided the financing. 2. Cushman & Wakefield represented Clear Sky Timberline LP, an entity formed by Clear Sky Capital in the bulk…

By Roland Murphy for Arizona Builder’s Exchange Arizona’s seasonally adjusted unemployment rate increased to 4.9 percent in February, up from 4.8 percent in January, according to the latest report published by the Arizona Office of Economic Opportunity. The national rate remained steady at 4.1 percent. Twelve months ago, the state had a seasonally adjusted rate of 5.1 percent, and the national was at 4. The state had a net gain of 31,100 non-farm jobs over the month, 16,600 of them in the private sector. Nine of the 11 sectors tracked showed gains, while Natural Resources and Mining was unchanged and…

By Roland Murphy for Arizona Builder’s Exchange Lennar Multifamily Communities is advancing a Planned Unit Development proposal to redevelop two commercial buildings in north Phoenix into a 299-unit luxury multifamily project: LMC Kierland. According to materials submitted to the Phoenix Planning & Development Department, the plan will replace the two aging suburban-style office structures on 71st Street north of East Tierra Buena Lane with a “4-Over-2-Podium” design of four residential levels over two stories of podium-style parking. “The Project is targeted toward attracting new residents into the Kierland area who desire a resort-style living experience and a ‘lock and leave’…

Groundbreakings 1. The Milwaukee Brewers along with City of Phoenix and community partners broke ground on the renovation project for Maryvale Baseball Park in Phoenix. The Brewers will invest $56-$60M in the construction phase of the program. Phoenix will allocate $2M each year for the next five years for renovations, and the Arizona Sports and Tourism Authority will contribute approximately $5.7M. 2. Construction started in mid-February on Gilbert’s new $14M, 600-space Heritage District Parking Garage. 3. Canyon Building & Design announced the groundbreaking of two new ground up hotels in Phoenix. It will construct the 4-story, 128-room Holiday Inn Express and the 4-story,…

By AZBEX Staff for Arizona Builder’s Exchange Inspiration at Cottonwood will be a new, two- and three-story garden style apartment community designed to provide workforce housing to fill a growing need for families currently living in, or moving to, the Verde Valley. Developer Inspiration Holding Company, LLC hopes to break ground this summer. According to an announcement from Sefton Engineering Consultants, the project’s civil engineer, the complex will have 192 “affordable apartment homes with amenities normally seen in upscale apartment complexes.” One target demographic is area hospital employees who want “affordable, yet upscale homes near their employment.” The property is…

By Jane Stewart for Arizona Builder’s Exchange A new industrial park is being proposed along Ray Road in Mesa on 20.89 acres of raw land sandwiched between the Loop 202 San Tan Freeway to the north and Phoenix Mesa Gateway Airport to the south. Applicant/Architect Eric Zitny with Ware Malcomb, representing owner Marwest Enterprises, LLC, put plans for The Landing at PMG, Phase I before the city’s Design Review Board for a preliminary review at the March 13th meeting. While unable to approve or deny any cases under a preliminary review, the board will offer suggestions for the applicant to…

The Tucson area has been abuzz with speculation about a massive (technically) speculative warehouse/distribution center project being planned for Century Park Research Center/Port of Tucson that would have a footprint of between 800KSF and 1MSF. We’re sorry for being a couple days late to the party, but AZBEX can confirm plans are in the works; Amazon is the intended tenant, and while the footprint will be 857KSF, the overall building area is 2.3MSF, according to a preliminary plan and document set we were provided by a confidential source affiliated with the project. Known as “Project Wildcat,” the documentation includes a…