Author: BEX Staff

By Associated Builders and Contractors The construction industry had 249,000 job openings on the last day of October, according to an Associated Builders and Contractors analysis of data from the U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey. JOLTS defines a job opening as any unfilled position for which an employer is actively recruiting. Industry job openings decreased by 9,000 for the month and are down by 164,000 from the same time last year. “Construction industry job openings fell again in October and are down nearly 40% over the past year,” said ABC Chief Economist Anirban Basu.…

Awards & Accolades 1. The new Clark Park Community Center was recently honored with a Distinguished Architecture Award from the American Institute of Architects Arizona. The design and construction team consisted of: Haydon Building Corp., project construction; Wood Patel & Associates, Inc., civil engineering; Holly Street Studio, architect; Dig Studios, landscape architect; Aquatic Design, pool design, and Nicole Mueller, public art. Groundbreakings 2. The Arizona Department of Transportation will begin work in early December along Interstate 40 to construct a new interchange that will in turn connect with a new roadway serving the east Kingman area. The Rancho Santa Fe…

Northern Arizona University is considering the inclusion of approximately $350M in potential housing projects in its master plan for the Flagstaff campus. If approved, the additions could add as many as 1,200 beds to the campus. NAU previously stated it has more than 10,000 beds dedicated to student housing, 98% of which are reportedly occupied. The University has attempted to combat the housing shortage by returning beds removed for COVID-19 and increasing the count of triple bedrooms. NAU said the proposals under consideration are to fill the current bed deficit. The additional beds will provide upper-division undergraduate students who cannot…

By Roland Murphy for AZBEX The Chandler Planning and Zoning Commission has recommended approval for three requests concerning a 181KSF, three-building industrial development by The Opus Group. The action was taken as part of the consent agenda for the Commission’s Nov. 20 meeting. Chandler 56 is planned on 13.9 acres across two adjacent lots 0.25 miles north of the NEC of 56th Street and Chandler Blvd. Opus has requested a zoning change to the planned area development for the property, as well as approvals for a preliminary development plan and a preliminary plat. According to the developer’s supporting materials, the…

By BEX Staff for AZBEX A Canadian firm is pursuing plans to develop a 510-unit apartment community in Buckeye’s “The Landing,” a 2,100-acre development hub south of Verrado Marketplace, which recently broke ground. Local news sources report Highstreet Ventures Inc. has paid $9.3M to seller Summit Community Lutheran Church for the 17.89-acre site east of the NEC of North Verrado Way and West Fillmore Street. A project narrative initially submitted to the City of Buckeye in July and updated in September highlights a requested rezone from the obsolete commercial center zoning to multifamily and also seeks a site plan approval…

After serving as the multifamily residential equivalent of The Wild West for a few years, the Build-to-Rent market experienced a slowdown (or “softening”) in recent years as capital markets tightened and appetites for the newest thing began to satiate across the country. Now, as an established and mature product type, analysts are no longer caught up in the hype and have accumulated enough data to make projections similar to those in other sectors, such as traditional apartments, houses and townhomes. Following are six key points to consider in BTR going into the new year. 1. More Capital, More Starts, Better…

Giving Back 1. The Arizona Builders Alliance 15th Annual Community Service Board’s 2024 Toy Drive began collecting toys, gifts and donations for seven nonprofit organizations serving thousands of children across the state. The ABA will use monetary donations to purchase toys from a wholesaler, then sort and wrap all the gifts for children at Sunshine Acres Children’s Homes, Arizona Sunshine Angels, Santo Niño Catholic Community, Sequoia Charter School, and Agape Adoption Agency of Arizona, as well as Tucson based Arizona Baptist Children’s Services and TMM Family Services. A variety of Christmas events are being held Dec. 13-Dec. 18. More than…

Sales Transactions 1. Ventas purchased The Country Club of La Cholla for $78.5M. The 217-unit independent/assisted living community is located on 10.6 acres at 8700 N. La Cholla Blvd. in north Tucson. The 236.5KSF property was last sold to Chicago Pacific Founders in 2019. The community is managed by a subsidiary of CPF Living Communities called Grace Management. 2. El Monte Shopping Plaza, located at 8841 N. 19th Ave. in Phoenix, has been sold to Lena Centers, a division of Longpoint. The shopping center was 99% leased by ASI Real Estate at the time of sale. The transaction totaled $17M,…

By Roland Murphy for AZBEX Nationwide Realty Investors’ 134-acre Cavasson master-planned mixed-use site at Hayden Road and Loop 101 has been one of the most consistently prolific development areas in the Valley since the first phase was announced in 2018. Now, two new projects have been submitted to the City of Scottsdale that will, if built, expand both the office footprint and residential unit count at the $1B-plus site. BB Living at Cavasson Multifamily developer BB Living has submitted a request to the Scottsdale Development Review Board for review and approval of BB Living at Cavasson, a 191-unit for-rent townhome…

By BEX Staff for AZBEX An Old Town Scottsdale residential development that once set off an unrelated controversy is set to begin construction early next year. The Goldwater Residences is planned as a five-story, 40-unit condominium community with 7.5KSF of ground-floor commercial space at 7000 E. 4th St. Headquartered in Spain, owner Adlanto secured approval for its plan to build the condo project from the Scottsdale Development Review Board in 2022. It was recently announced Plaza Companies has joined the development team to serve as “advisor, design and construction manager,” to provide “the local knowledge and relationships needed to make…