Author: BEX Staff

By Roland Murphy for AZBEX In its March 16 meeting, the Cottonwood Planning and Zoning Commission recommended approval of a rezoning request for a 96-unit apartment development on 3.25 acres at 1013 E. Mingus Ave., roughly 0.4 miles west of Main Street. Current zoning for the site is R-1 (Single-Family Residential). The development team has requested rezoning of the property to R-3 (Multiple Family Residential). The Cottonwood General Plan designates the site as HR (Residential/High-Density), which supports the rezoning request. According to the background information accompanying the request, “Additionally, the project site is adjacent to lots that are zoned R-1…

Two recognizable buildings in the Roosevelt Row Arts District could be torn down for a future apartment expansion. The demolition requests for the Coronado Hotel & Motel and the original Matt’s Big Breakfast, both on 1st Street north of McKinley Street, are separate applications before the Phoenix Historic Preservation Commission. The Coronado request was considered last week. The other will go before a future meeting. No action has been taken. The requests were submitted on behalf of True North Studio CEO and Founder Jonathon Vento. Vento intends to buy the hotel property and expand the nearby 24-unit apartment complex, The…

By City of Mesa The City of Mesa continues to modernize its development review process, cutting red tape and consolidating department review functions to deliver faster approvals and greater transparency for builders, businesses, investors, and residents. The changes are initial steps that follow comprehensive stakeholder engagement efforts and an evaluation of City processes, both of which identified opportunities to better align and streamline processes across the City’s development review functions. The result is a significant overhaul of Mesa’s development review approach. Improvements include consolidated review teams, dedicated support staff and new technology that gives applicants real-time visibility into their project…

By Associated Builders and Contractors Construction input prices increased 1.3% in February 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 also increased 1.3% for the month. Overall construction input prices are 3.1% higher than one year ago, while nonresidential construction input prices are 3.7% higher. Prices increased in all three energy categories last month. Natural gas and unprocessed energy materials prices were up 10.9% and 6.0%, respectively, while crude petroleum prices were up 4.7% in February. “Construction materials costs surged in…

Groundbreakings 1. On March 26, Mack Real Estate Group and McCourt Partners will hold a ceremonial groundbreaking for Halo Vista, a $7B, 2,300-acre master-planned development at Dove Valley Road and 43rd Avenue in north Phoenix. The mixed-use project, built by Willmeng Construction, is planned as a “city within a city” adjacent to TSMC Arizona. The project is intended to serve as a hub for science, innovation and community development. 2. The Arizona Department of Transportation plans to begin a 28-month, $63M expansion of César Chávez Blvd. in San Luis on March 23. The project will widen the roadway from two…

By BEX Staff for AZBEX A planned April 30 auction of 293.5 acres along the east side of 40th Street between Loop 101 and Deer Valley Road could provide the next multifamily development site in the bustling Desert Ridge area of north Phoenix. The site is appraised at $108.3M, which will be the minimum starting bid. Developer Michael Lieb (as AZ18 LLC) submitted the application to the Arizona State Land Department that triggered the auction, according to a local news report. Lieb is president of Michael A. Lieb Ltd. An earlier report noted the application specifies developing the site for…

Sales Transactions 1. TerraCap Management LLC purchased Tresa at Arrowhead Apartments, a 360-unit multifamily community at 17722 N. 79th Ave. in Glendale. Built in 1998, the community consists of 53 residential buildings on 19 acres. Hamilton Zanze & Company sold the property for $82.2M. CBRE’s Matt Pesch and Asher Gunter, along with Austin Groen, represented the seller. CBRE Capital Markets originated a $53.4M Fannie Mae loan for the buyer. 2. GR Partners Casa Adobes LLC sold the 18-building Casas Adobes Apartmentsat 6200 N. Oracle Road in Tucson for $28.75M. The 204-unit apartment complex was purchased by WNC/WP Oracle LLC. Newmark’s…

Giving Back 1. Mike Greenawalt and Dena Greenawalt have launched the Greenawalt Foundation, a nonprofit focused on expanding opportunities in the skilled trades and supporting community organizations. The foundation plans to distribute $200K in scholarships and grants in 2026, including $2.5K scholarships for high school seniors pursuing careers through registered apprenticeship programs and funding for skilled trades training initiatives. The organization has already invested $169K in skilled trades education and community programs, including $85K to the Phoenix Electrical JATC, where Mike Greenawalt completed his electrical apprenticeship. 2. Fiesta Sports Foundation partnered with Salt River Project to construct a 1.4KSF playground…

By Roland Murphy for AZBEX The Arizona State University and City of Tempe Joint Review Committee has recommended approval of a planned area development overlay amendment that will enable the next round of development in the Novus Innovation Corridor. The recommendation was approved in a 7-0 vote at the Committee’s March 4 meeting. AZBEX has published nearly 50 articles and news items about NIC on our website over the years. Those pieces are available here. NIC master developer Catellus Development Corporation has requested a zoning map amendment and zoning code text amendment for roughly 5.5 acres at the NWC of…

Much of the housing industry has done an abrupt about face and shifted from support of the 21st Century Road to Housing Act to outspoken opposition after language was included by U.S. Senators Elizabeth Warren (D- Mass.) and Tim Scott (R-S.C.) that would effectively eliminate the Build-to-Rent housing sector as it currently exists. The U.S. House of Representatives passed a version of the bill in February, and the Trump administration expressed its support. The multi-component, largely bipartisan legislation seeks to reduce or eliminate construction delays caused by environmental reviews and establish zoning guidelines for municipalities. Shortly afterward, President Trump issued…