Author: BEX Staff

With the approval of $6M for planning over the next two years, the Mesa City Council has launched what could be a $300M redevelopment of the Arizona Natural History Museum into a mixed-use economic development showcase. Officials say the museum is not currently fulfilling its potential and have unveiled a concept that includes a redeveloped facility as the centerpiece of a mixed-use development that includes a boutique hotel and dining and retail amenities. The updated facility is planned to increase tourism, private investment and employment opportunities. The current facility is the largest city-owned natural history museum in the United States,…

The City of Mesa is planning to ask residents to approve a general obligation bond to the tune of $285M for public safety facilities and street updates. General obligation bonds must be approved by voters and allow cities to issue debt to fund capital projects. Mesa has an extensive history of asking voters to approve GO bonds and has largely seen success, as voters have not rejected a GO bond request throughout the last two decades. The 2026 bond package is expected to increase secondary property taxes for the median homeowner in Mesa by $54 annually once each bond is…

By Associated Builders and Contractors The national March not seasonally adjusted construction unemployment rate was 6.7%, a 1.3% increase from March 2025, according to a state-by-state analysis of U.S. Bureau of Labor Statistics data released by Associated Builders and Contractors. The analysis found only two states—Louisiana and Ohio—had lower estimated construction unemployment rates over the same period; four had the same rate, and 44 had higher rates. All but six states had construction unemployment rates below 10%. National NSA payroll construction employment was 58,000 higher than March 2025, its 12th straight month of year-over-year increases below 100,000. Seasonally adjusted payroll…

Awards & Accolades 1. Site Selection Magazine recently released its annual rankings for 2025. The Amkor Technology semiconductor chip packaging and testing plant was ranked as North America’s top economic development deal. Considerations included capital investment and job creation. Phase I is scheduled to be completed in 2028. Groundbreakings 2. MODUS Companies broke ground on Avala, a 94-unit luxury rental home community at the NWC of 64th and Oak streets in Scottsdale. The project includes a mix of fully detached and shared-wall single-level residences. Completion is expected in fall 2027, with leasing to begin in spring 2027. Progress Reports 3.…

By BEX Staff for AZBEX Major land use changes proposed for the 141-acre Oro Valley Town Centre area, formerly known as Rooney Ranch, near Pusch View Lane and Oracle Road have been approved by the Oro Valley Town Council. The highly visible undeveloped desert parcel has been the subject of extensive planning and debate over the years. In its May 6 meeting, the Town Council approved a General Plan amendment and rezoning request to move the latest plans forward. According to materials accompanying the Council’s consideration, Oro Valley initiated the amendment and rezoning process last year and began working on…

By Roland Murphy for AZBEX The next evolution of the Bella Storia master plan is underway, following a recent master site plan and an associated component review of the 12.96-acre Bella Storia Commercial plan by the Gilbert Design Review Board. Bella Storia is a nearly 80-acre master planned site at the NWC of Power and Williams Field roads. The development vision includes single-family, multifamily, restaurants, retail and other commercial components. The overall project dates back to 2022, and AZBEX was the first outlet to report on plans for the multifamily component early last year. (AZBEX; Feb. 4, 2025) The 13-acre…

Maricopa County Superior Court Judge Michael Herrod has upheld the Arizona law that will enable Axon Enterprise’s construction of a new $1.3B corporate headquarters campus near Hayden Road and Loop 101 in north Scottsdale. AZBEX has led coverage of the Axon project and its controversies. Our reporting is available here. After the project won approval from the Scottsdale City Council, an opposition political action committee called Taxpayers Against Awful Apartment Zoning Exemptions collected signatures to put the matter before voters in a referendum. The group was particularly opposed to the project’s inclusion of nearly 2,000 multifamily units. The newly installed…

As officials in Lake Havasu City consider their Fiscal Year 2026-2027 budget and five-year Capital Improvement Plan, water and wastewater projects are assuming a prominent role. Current discussions center around a budget estimate of $46.5M for water and $34.4M for wastewater projects originally presented in an April work session. A water main replacement program is estimated at approximately $20M. Of that total, $3.5M has already been spent, and $4.5M more is planned over the next fiscal year. FY 2026-2027 will also see $1M for advanced metering infrastructure, which has a total estimate of $7.5M over the five years. Another $3.57M…

Giving Back 1. Salt River Project crews connected 13 families to electricity in the western Navajo Nation this spring through the Light Up Navajo VII initiative. To electrify the 13 homes, SRP crews worked a combined 3,753 hours over two weeks, installing 108 primary poles, 25 secondary poles and 10 transformers, and stringing 91,866 feet of wire. Company News 2. Okland Construction announced the company has transitioned to partial employee ownership through an Employee Stock Ownership Plan, “expanding ownership to include the people who help make this company what it is.” 3. Chapman Lindsey Commercial Real Estate Services LLC has…

Sales Transactions 1. Bonesta Inc. purchased three assisted living facilities from Sante Partners in a portfolio transaction totaling $75.61M. The properties were: Santé of North Scottsdale, a 52.4KSF facility at 17490 N. 93rd St. in Scottsdale, which sold for $27.21M; Santé of Mesa, a 48.3KSF facility at 5358 E. Baseline Road in Mesa, which sold for $24.29M, and Santé of Surprise, a 49.9KSF facility at 14775 W. Yorkshire Dr. in Surprise, which sold for $24.11M. 2. U.S. Merchants purchased a 454KSF industrial building at 13401 W. Sweetwater Ave. in Surprise for $63.89M from Mohr Capital. The property is part of…