Author: BEX Staff

By Roland Murphy for AZBEX – BEXclusive MODUS Companies (MODUS Development) has submitted a proposal for a 94-unit single-family Build-to-Rent development in south Scottsdale on Oak Street near 64th Street. Papago Village would provide 46 one-bedroom and 48 two-bedroom units on 10.01 gross acres. According to the project narrative, the development will have a Mid-Century Modern design aspect, drawing from the architecture of neighboring homes and an existing office building on the site that will be retained in the new development. The building was designed by Taliesin Architects and built in 1972. The interior of the building will be redeveloped…

By BEX Staff for AZBEX Recently announced changes to plans from the City of Glendale and VAI Resort could free up two aspects of the resort development that had threatened to bog down its progress. In the first instance, local news outlets report the City and VAI Resort are foregoing plans for a Government Property Leased Excise Tax incentive program. The GPLET agreement was approved in 2020, and a 2023 economic analysis estimated the property tax abatement at approximately $100M over a 25-year term. The value to Glendale from annual revenues was estimated at nearly $800M over the same timeframe.…

By City of Tempe The City of Tempe and Tempe Sister Cities are working together to build housing, a boutique hotel, and a new event space in downtown Tempe – all while ensuring the historic Hackett House is protected and maintained. The historic 1888 Hackett House at Fourth Street and Mill Avenue is one of Tempe’s iconic buildings. It’s been the home to Tempe Sister Cities for decades. However, the organization needs more space and a more modern commercial kitchen for its activities. Recognizing an opportunity, the City of Tempe and Tempe Sister Cities came together to craft a plan…

A new 19.3KSF building at the SEC of College Avenue and Highway 70 in Thatcher will expand facilities at Eastern Arizona College. The building will provide a 12KSF cosmetology center and 7.3KSF of medical uses. The space will upgrade facilities for the school’s cosmetology program, which will increase its capacity from the current limit of 70 students to 130. The estimated building cost is $12M, which will be funded by EAC reserves not subject to expenditure limitations. The medical portion will be leased to a healthcare provider, which will generate additional funds for the facility. The cosmetology facility will include…

By City of Glendale Downtown Glendale will be the home of Hilton’s first LivSmart Studios in Arizona. LivSmart by Hilton is the newest addition to the portfolio of 24 world-class brands. The property will help provide needed lodging to support Glendale’s Civic Center for overnight conferences and events and the millions of annual visitors to Glendale’s downtown looking for modern, comfortable accommodations. It will also serve as a hospitality option for Glendale’s Sports & Entertainment District. Arizona-based CivicGroup is the developer. “Hilton sets the standard for hospitality all over the world,” said Chris DeRose, President of CivicGroup, “and we are…

Phoenix City Council has approved an expansion of the city’s Central Business District in hopes of enhancing development south and east of the downtown area. The new boundaries reach generally from McDowell Road to Broadway Road and 23rd Avenue to 20th Street. The Central Business District was originally established in 1961 and expanded to include the Capitol Mall and span north to McDowell Road in 1987. The latest expansion will enable improvements and development in the area by facilitating incentive programs like property tax abatements under Government Property Lease Excise Tax agreements. (Source)

Giving Back 1. Brycon partnered with the City of Chandler for its Operation Back to School event. Brycon employees donated time and money to equip and assemble 100 backpacks filled with school supplies. 2. Valley Partnership selected Sojourner Center as the beneficiary of the 2024 Community Project. Each year, Valley Partnership chooses a non-profit organization to provide facility improvements. Awards & Accolades 3. Bob Mulhern of Colliers Arizona was re-elected as Chairman of GreatHearts Arizona School Governing Board. GreatHearts Arizona has 25 tuition-free public charter schools spread throughout the Valley. 4. DCS Contracting, Inc. congratulated Eleuterio Maldonado for his 30 years…

Sales Transactions 1. Tides Equities LLC sold The Tides on Country Club, a 582-unit apartment community in Mesa, for $118.5M. The buyer was an entity traced to Geringer Capital. 2. YAM Properties sold Village Center, a 160KSF, Target-anchored shopping center in Phoenix, for $26.6M. Paradise Palm Plaza LLC was the buyer. 3. ABI Multifamily announced the $15.75M sale of The Ivy off Central Apartments, an 80-unit multifamily apartment community in Phoenix. The undisclosed buyer and seller were represented by ABI’s Phoenix-based Institutional Arizona Team—Alon Shnitzer, Rue Bax, Eddie Chang and Doug Lazovick. 4. Mark Ruble, Chris Lind and Zack House…

By Arizona Department of Transportation The Arizona Department of Transportation is seeking public input on a proposed update to its Electric Vehicle Infrastructure Deployment Plan that would add nine state highway segments to a planned network of fast-charging stations. The virtual meeting is scheduled for 6 p.m. Wednesday, July 10, on the proposal to add the following to a list that currently includes all interstate freeways, US 89, and portions of US 93 and state routes 64, 87, 95 and 347: US 60: Wickenburg to Phoenix, US 60: Phoenix to Globe, US 60: Show Low to New Mexico, US 93:…

By Roland Murphy for AZBEX The U.S. General Services Administration has announced commercial inspections at the U.S.-Mexico border at Douglas will relocate from the existing Raul H. Castro Land Port of Entry to a new facility 4.5 miles away once it is built. News reports say the Castro POE only has five inspection bays and cannot meet the needs of Customs and Border Protection. GSA will work to construct the new POE while simultaneously modernizing and renovating Castro. The decision comes after a nearly two-year environmental review of the new location. The new port will be funded under the Infrastructure…