Author: BEX Staff

By Roland Murphy for AZBEX The Somerton City Council has approved the requested rezoning and general plan amendment to allow development of a new 120-unit apartment community on a 7.6-acre parcel at the SWC of Main Street and Parkview Avenue. The developer, YEPCO, LLC, traces back to Brian L. Hall, owner of Hall’s General Contractors. Hall’s has been involved in several projects in the area, including as GC on the 103-unit expansion of Desert Sky Townhomes and as GC and developer on the 84-unit 24th Street & Avenue 9E Apartments, both in Yuma. The new zoning establishes the property for…

By Associated Builders and Contractors Construction input prices increased 0.5% in April compared to the previous month, according to an Associated Builders and Contractors analysis of U.S. Bureau of Labor Statistics Producer Price Index data. Nonresidential construction input prices increased 0.6% for the month. Overall construction input prices are 2.3% higher than a year ago, while nonresidential construction input prices are 2.2% higher. Prices increased in 2 of the 3 energy subcategories last month. Crude petroleum prices were up 10.6%, while unprocessed energy materials prices increased 8.2%. Natural gas prices were down slightly by 0.9%. “Construction input prices jumped half…

By Associated Builders and Contractors Associated Builders and Contractors reported its Construction Backlog Indicator increased to 8.4 months in April, according to an ABC member survey conducted from April 22 to May 6. The reading is down 0.5 months from April 2023, but expanded 0.2 months from the prior month. Backlog declined on a monthly basis for the largest and smallest contractors by revenue and grew for those with $30M-$50M and $50M-$100M in annual revenues. On an annual basis, only contractors with $30M-$50M in annual revenues have experienced an increase in backlog. ABC’s Construction Confidence Index readings for sales and…

Groundbreakings 1. The Water Services team with McCarthy Building Companies Inc. recently began construction on the City of Phoenix Deer Valley Water Treatment Plant in north central Phoenix. The two-phase, $37.2M rehabilitation project focuses on updating the solids treatment portion of the plant, which intakes and filters water from the Arizona Canal, to increase plant efficiencies. The project also includes the addition of a new electrical building at the site. 2. Rockefeller Group and Mosaic broke ground on Corsica Villas, a 152-unit Build-to-Rent townhome community in Phoenix. The community will have two locations, with the first 68 townhomes being on…

The controversy over the City of Glendale’s planned Black Lot Parking Garage is carrying over into the City budget. Plans for the 3,864-space parking structure to primarily serve VAI Resorts’ new development near State Farm Stadium are on hold at the moment. State Farm Stadium and the Arizona Cardinals sued the City to stop the development, alleging it infringed on agreements to provide the Cardinals use of the parking lot intended for the garage site. A Maricopa County Superior Court judge agreed, and Glendale is currently appealing the ruling. The Glendale Fiscal Year 2025 budget, however, has $93.6M in general…

By Roland Murphy for AZBEX BEXclusive A trio of separate cases coming before the Tempe Development Review Commission this week will, if approved and built as planned, bring a total of 1,529 new residential units to the city. Tempe Gateway Under the largest of the proposals, Tempe Gateway, ColRich would build 910 apartments on 17.22 net acres as part of a three-phase mixed-use development. Buildings will range between two and five stories, and the site will include a five-level parking structure. The eastern portion of the property will also see 24KSF of retail development. Tempe Gateway will be developed on…

By Roland Murphy for AZBEX BEXclusive Last month, we took a look at the impacts and benefits of hangars and associated developments at airports around the state, particularly in metro Phoenix, and also put out a project article on expansion plans at Falcon Field in Mesa. (AZBEX April 2, April 9) A new proposal submitted April 25 in Scottsdale shows how this specialty development sector continues to expand. The developer wants to build Skyport at Redfield Hangars, a two-building condominium aviation facility with four hangars and office space at 7600 E. Redfield Road on nearly 3.7 acres in the Scottsdale…

By National Association of Home Builders Confidence in the market for new multifamily housing declined year-over-year in the first quarter of 2024, according to results from the Multifamily Market Survey released today by the National Association of Home Builders. The MMS produces two separate indices. The Multifamily Production Index had a reading of 47, down three points year-over-year, while the Multifamily Occupancy Index had a reading of 83, up one point year-over-year. The MPI measures builder and developer sentiment about current production conditions in the apartment and condo market on a scale of 0 to 100. The index and all…

Awards & Accolades 1. Ranking Arizona announced the Top 10 Architecture Firms for 2024. The winners were: Top 10 Architecture Firms with Seven or More Architects 1. Corgan; 2. SWABACK; 3. DAVIS; 4. Butler Design Group; 5. Gensler; 6. Archicon Architecture & Interiors; 7. CCBG Architects; 8. Todd & Associates; 9. Orcutt | Winslow, and 10. SmithGroup. Top 10 Architecture Firms with 6 or Fewer Architects 1. Cawley Architects; 2. LGE Design Build; 3. Deutsch Architecture Group; 4. Bar Napkin Productions; 5. Pinnacle Design; 6. dpa architects; 7. ADM Group; 8. GLHN Architects & Engineers; 9. Zebra Projects, and 10.…

Sales Transactions 1. CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen arranged the $62.75M sale of the Parc Tolleson multifamily community in Tolleson. Millburn & Company purchased the property from Evergreen Devo, Inc. Additionally, CBRE’s Trevor Breaux and Troy Tegeler secured the funding for the purchase. 2. Cushman & Wakefield brokered the $16.5M sale of 1002 S. 54th Ave., a 94KSF industrial building in Phoenix. Will Strong, Foster Bundy and Katie Repine of Cushman & Wakefield and Anne Josephson of KBC Advisors represented the seller, Stos Partners. ViaWest Group was the buyer. Copper State Bolt & Nut Company…