Author: BEX Staff

Recent federal data is giving mild indications the multifamily construction market may be inching toward a modest bounceback. Discussing recently released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, RealPage Senior Real Estate Economist Chuck Ehmann said information suggests a slight improvement in multifamily permits since early last year. Adding the months of February and March does not provide enough data to make a definitive projection, but multifamily starts seem to be accelerating at a faster rate than permits. March starts hit a seasonally adjusted annual rate of 446,000 units, a 13.5% month-over-month…

Awards & Accolades 1. Ranger Station Park in Sedona received a 2025 Project of the Year Award from the American Public Works Association in the Small Cities/Rural Communities Historical Restoration/Preservation category. The 3.4-acre park includes the restoration of the 1917 U.S. Forest Service Ranger Station House and 1934 Ranger Station Barn, both listed on the National Register of Historic Places. The project required redesign efforts to address floodplain constraints, hazardous material remediation and drainage improvements while preserving existing trees and historic structures. A shade structure installation is expected to be completed by mid-June. Groundbreakings 2. Work is underway on the…

By Roland Murphy for AZBEX The Tucson Planning Commission is scheduled to hold a study session May 6 to review the current iteration of the City’s proposed amendment to its Unified Development Code establishing parameters for data center developments. Multiple reports have shown Arizona as the state with the second most data centers in development around the country, second only to Northern Virginia, which is home to a large number of federal government installations. As the sector has exploded, multiple counties and municipalities around Arizona have begun implementing zoning and land use restrictions, largely generated by resident and activist concerns…

By Roland Murphy for AZBEX Employment in the Arizona Construction sector rose by 300 jobs in March, following the addition of 2,900 jobs in February, according to the latest report published by the Arizona Office of Economic Opportunity. The state’s seasonally adjusted unemployment rate increased to 4.7%. The national unemployment rate fell to 4.3%, down from 4.4% in February. In March 2025, Arizona had a seasonally adjusted rate of 4.2%. The national rate was also 4.2%. Month over month, Arizona’s not-seasonally adjusted total nonfarm employment decreased by 10,900 jobs, or -0.3%. Year over year, NSA total nonfarm employment decreased by…

By Town of Carefree The NEC of Carefree Highway and Cave Creek Road is a vital, high-potential site for economic development within the Town of Carefree. Recognized as a key opportunity for generating long-term revenue and enhancing the community’s commercial offerings, the Town has been actively working with the property owner, Empire Group of Companies, and a developer to bring a high-quality project to this prominent location. Following the decision by the previous development team to discontinue their plans, the Town announced at the April 7 Town Council meeting that a new developer, SimonCRE, is currently working with the property…

Negotiators in the Lower Basin States recently released a written statement saying they have agreed to a tentative Colorado River water allocation plan that will result in water cuts for their area. The Lower Basin States consist of California, Arizona and Nevada. A written statement released by representatives said the plan is intended to “stabilize the Colorado River through 2028.” The cuts the three states are offering are more substantial than they had previously offered. The new proposal builds off their previous efforts and will result in an additional 3.2 million acre-feet of water cutbacks through 2028. The Lower Basin…

Giving Back 1. The annual Phoenix Sundt Foundation Charity Golf Tournament raised $240K to benefit Sojourner Center, a Valley nonprofit that delivers critical services for survivors of domestic abuse. 2. Valor Pavement Solutions restored the parking lot at Familia De Comunion Por Garcia to improve safety, accessibility and long-term functionality for the community gathering place. The company said the project supports its commitment to strengthening local neighborhoods through community service. Awards & Accolades 3. Sundt has been awarded the Construction Safety Excellence Grand Award by the Associated General Contractors of America for the third time, which is more than any…

Sales Transactions 1. Blackstone, in care of LivCor, sold Arrowhead Summit, a 412-unit apartment community at 18330 N. 79th Ave. in Glendale, to an entity tracing to NALS Apartment Homes for $101.35M. Asher Gunter, Matt Peach and Austin Groen of CBRE negotiated the transaction. 2. Grandstone at Sunrise at the intersection of Happy Valley Road and Lake Pleasant Parkway in Peoria was recently purchased by Met Life for $45.8M. The 104-unit Build-to-Rent community was sold by Thompson Thrift. The transaction was handled by IPA’s Steve Gebing and Cliff David. 3. Acquire Tucson LLC, an affiliate of JRD Capital LLC, purchased…

By Roland Murphy for AZBEX In its April 28 meeting, the Tempe Development Review Commission recommended approval for a series of amendments that will enable a major new multifamily development at 1600 N. Priest Dr. in the Papago Park Center. If ultimately approved, the requests for Legend City District at Papago Park Center will amend the General Plan land use and residential density map from Commercial to Mixed-Use High with up to 65 units/acre, rezone the 19-acre site from General Industrial District Planned Area Development to (Mixed-Use) MU-4 PAD, and amend the PAD for Papago Park Center. The 300-acre Papago…

Another planned parking project in Scottsdale is raising questions. A controversial parking garage development at 1st Street and Brown Avenue in Old Town had caused bitter infighting among the Mayor and City Council, as well as between residents, for more than a year. A contract for the project was approved in the April 14 meeting. In the same meeting, Council also approved a $9M project that will add 200 parking spaces across the street from Scottsdale Airport. The nature of the project had some observers confused. Access Capital/Inspired Healthcare Capital paid $8.4M for the 1.5-acre site with a two-story office…