Author: BEX Staff

Groundbreakings 1. Empire Group of Companies announced the start of construction on its largest build-to-rent project in Arizona, the 354-unit Village at Bronco Trail. The 30-acre development site is located at Sonoran Desert Drive and 29th Avenue. 2. Trilogy Investment Co. and Pinnacle Partners broke ground on Reve at Avondale Station, a $50M, 107-unit rental home community in Avondale. Some amenities will include a community clubhouse, pool and dog park. There was no expected completion time provided. 3. Wild Horse Pass Development Authority and the Gila River Indian Community began construction on Sacaton Market, a grocery store, fueling station and…

By Roland Murphy for AZBEX – BEXclusive The Bullhead City Planning and Zoning Commission has voted 6-0 in favor of a zoning map change that would allow for the development of an approximately 18.7-acre parcel into a travel-centric mixed-use project with hotels, condos, self-storage, fuel services and restaurant outlets. The site is currently zoned Public Lands and had been held under Arizona State Land ownership until 2022 when it was purchased by real estate acquisition and development preparation firm Legacy Commercial Real Estate LLC. The zoning change is required for the land to be developed, and developer Anthem Oil (Anthem…

By Associated Builders and Contractors The construction industry added 17,000 jobs on net in December, according to an Associated Builders and Contractors analysis of data released by the U.S. Bureau of Labor Statistics. On a year-over-year basis, industry employment has grown by 197,000 jobs, an increase of 2.5%. Last month, nonresidential construction employment increased by 11,900 positions on net, with growth in two of the three subcategories. Nonresidential building added 8,100 positions, while nonresidential specialty trade added 4,300 jobs on net. Heavy and civil engineering lost 500 jobs. The construction unemployment rate fell to 4.4% in December. Unemployment across all…

By Roland Murphy for AZBEX – BEXclusive Tuesday’s Phoenix City Council policy session meeting has one item on the agenda: to provide information and background on a prevailing wage ordinance, to provide a draft of a prevailing wage ordinance, and to request approval for additional staff and necessary related equipment if a prevailing wage ordinance is adopted. Council passed a controversial prevailing wage ordinance last March, requiring businesses that contract with the City for construction projects valued at $250K or more to pay wages and benefits comparable to those received by union workers. The ordinance was introduced for a Council…

Evergreen Devco is proposing a four-building, 551KSF industrial park on North 46th Street near Falcon Field Airport in Mesa. The company is requesting a rezoning to Light Industrial Planned Area Development for the project, known as The Landing at Falcon Field. A 7KSF retail space is also included in the plans. Evergreen bought the 33-acre site in 2022 from Sam’s Club for $12.4M. The warehouse retailer had planned to build a 134KSF store on the site and secured a council-use permit in 2005. The store plan never came to fruition, but Sam’s Club retained ownership of the property until it…

By National Multifamily Housing Council The December 2023 edition of the NMHC Quarterly Survey of Apartment Construction & Development Activity found that construction and rental housing firms continue to face challenges in the creation of new housing. Delays in construction, a lack of financing, and the overall economic infeasibility of projects caused by the interest rate environment continue to confront the market. Delays are still an expected feature of the current development environment, with 84% of respondents reporting construction delays, although that is slightly improved from the last two quarters. Of those experiencing delays, 81% reported delays in permitting and…

Boards & Commissions 1. Phoenix Mayor Kate Gallego has been appointed to serve on the U.S. Department of Transportation’s newly created Transforming Transportation Advisory Committee. The committee will cover issues such as safe and properly executed emerging technologies, integrating automations, policies that encourage workforce innovations and more. Promotions 2. Kristi Thames has been promoted to CEO & Associate Broker at Dunlap & Magee Property Management, Inc. 3. Commonwealth Electric Company of the Midwest announced Neil Davidson has been promoted to COO. 4. Kristi Herbst has been promoted to Chief Strategy Officer at Synergos Companies. 5. J. Banicki Construction, Inc. has…

Sales Transactions 1. An entity connected with Alliance Residential sold Broadstone at Dobson Ranch, a 288-unit apartment complex in Mesa, for $85M. AZ Dobson Ranch Apartments, LLC was the buyer. 2. BKM Capital Partners acquired two separate properties in Tempe. The firm paid roughly $48M to Stockbridge Capital Group to acquire more than 250KSF of industrial buildings. Both transactions were in the Gateway Business Park. 3. ViaWest Group, represented by Cushman & Wakefield, has sold Blackhawk Corporate Center, a 252KSF three-building office/medical campus in the Deer Valley submarket. Big Sky Medical Real Estate was the buyer. Steve Lindley, Alexandra Loye,…

Developer Creation is requesting approval for changes to its plans for Heritage Park, a mixed-use development in downtown Gilbert. The nine-building project includes a five-story hotel, office and retail spaces, 288 apartments and two parking garages on an 11.97-acre site at the SWC of Gilbert Road and Juniper Avenue. The Gilbert Town Council approved a request in October to allow the project to be split into two parts. The next step is plan approval by the Redevelopment Commission, which discussed the request in a Dec. 20 study session. Formal action is expected this month, after which the project will go…

The City of Phoenix has issued a request for proposals seeking a developer to buy a city-owned parking lot in the Roosevelt Row Arts District and transform the site into a high-rise. The 0.4-acre site on Second Street north of Roosevelt is a City-owned parking lot that had been used as a demonstration area for shipping container-based homes. The site is zoned for heights of up to 250 feet. Phoenix wants a mixed-use high-rise built on the location. Desired components include ground floor public amenities like retail or restaurant uses. If a residential use is included, at least 20% of…