Author: BEX Staff

Valley Metro and the City of Phoenix have initiated a community engagement effort to gather valuable input from residents regarding a proposed light rail route for the Maryvale area of west Phoenix. This transit project, known as the West Phoenix High-Capacity Transit Alternatives Analysis, aims to enhance high-capacity transit options in an area with significant transit demand. The recommended light rail route plan would run westward from Central Avenue along Indian School Road, proceed southward on 75th Avenue, and then continue westward along Thomas Road. This proposed route has the potential to significantly improve connectivity and accessibility for residents in…

The Arizona Department of Transportation and the Maricopa County Department of Transportation have received a $970K grant from the U.S. Department of Transportation. This grant, known as the Accelerated Innovation Deployment (AID) Demonstration Grant, aims to improve safety in construction and maintenance work zones. ADOT and MCDOT plan to use the funds to introduce advanced technology in freeway and arterial road systems to enhance safety for both workers and drivers. Greg Byres, ADOT State Engineer and Deputy Director for Transportation, emphasized the importance of safety and how technology can aid in achieving this goal. ADOT intends to provide real-time information…

By Rebekah Morris for AZ Builder’s Exchange, LLC The Richman Group is proposing a mixed-use project called Town Commons that would encompass three separate parcels of city-owned land at the corner of Guadalupe Road and S. Avenida del Yaqui in the Town of Guadalupe. In a pair of firsts, this is the developers first major project in Arizona, and the first major development to come to the Town of Guadalupe in recent history. The developer was one of three to respond when the Town put out a public development RFP in December 2022. The Town unanimously approved entering into an…

The historic Hotel San Carlos in downtown Phoenix is poised for a comprehensive $80M renovation, as detailed in city documents. Originally constructed in 1928, the hotel has a rich history and was known for its innovative amenities at the time, including steam heat, elevators, and air-cooling. Rockbridge Capital LLC, the hotel’s owner, plans an extensive renovation that encompasses both interior and exterior aspects of the building. The renovation project aims to increase the room count from 128 to 141. It will also involve the addition of several new features and facilities, including: New Dining and Drinking Spaces: A new destination…

Los Angeles-based startup CarbonCapture is collaborating with Arizona State University to establish a regional carbon dioxide (CO2) capture hub in the Southwest United States. They are seeking funding from the U.S. Department of Energy to conduct an engineering and design study for the project. The hub would span multiple sites in Arizona, Utah, and New Mexico, utilizing advanced technologies developed by CarbonCapture and ASU’s CarbonCollect. The Arizona site, co-located with Proton Green’s helium plant at St. Johns Dome, is expected to cover extensive acreage and run on renewable energy sources. If discussions with the Department of Energy proceed as planned,…

Giving Back Awards & Accolades 1. Michael Pollack has been awarded the prestigious Mayor’s Cup Award from the City of Chandler, as well as a commendation from former Governor Doug Ducey, Mayor Kate Gallego, Mayor Kevin Hartke and Mayor Jerry Weiers congratulating him for 50 years of contributions to the Valley. 2. The Arizona Hispanic Chamber of Commerce has honored the Arizona Department of Transportation’s work with minority- and women-owned businesses. ADOT has been inducted into the organization’s Arizona Million Dollar Circle of Excellence. During a one-year period that ended March 31 of this year, ADOT contracts with disadvantaged business enterprises totaled…

Sales Transactions 1. CBRE represented the seller in a sale transaction of Arcadia Cove, a 432-unit multifamily community in Phoenix, for $130.5M to Blue Lake Capital. CBRE’s Asher Gunter, Matt Pesch, Sean Cunningham and Austin Groen represented the seller, Priderock Capital Partners. 2. Institutional Property Advisors, a division of Marcus & Millichap has announced the sale of Aiya, a 360-unit multifamily property in Gilbert, for $112M or $311K per unit. The seller, The Wollf Company, was represented by Steve Gebing and Cliff David, both IPA executive managing directors. The buyer is Olympus Property. The property was completed in 2022. 3.…

Chandler Unified School District is proposing to enter into a contract with Orcutt Winslow for design services to rebuild Hartford Elementary School at this week’s board meeting. The existing school was built in 1957 and the proposal would rebuild it with a new 72KSF facility. Construction would begin in January 2025 and open before the 2026 – 2027 school year. (Source)

Howard Hughes Holdings has recently secured the necessary approvals to kickstart the development of the initial phase of its ambitious Teravalis master-planned community in Buckeye. This vast project encompasses an impressive 37,000 acres, marking it as Howard Hughes’ most substantial master-planned endeavor to date. Teravalis’ maiden village, named Floreo, is set to feature approximately 5,000 single-family lots, spread across a sprawling 3,029 acres. Floreo will be located at the northwest corner of Sun Valley Parkway and Teravalis Parkway. The Buckeye City Council’s greenlight for the final plats is a significant milestone, as it includes approval for the first phase of…

By Rebekah Morris for AZBEX The Weekes Wash Multi-Use Detention Facility received an infusion of federal funds last week as part of an announcement. A total of $49M will be invested in Arizona flood control projects from the bipartisan infrastructure law led by Senator Kyrsten Sinema and shaped by Senator Mark Kelly, $44.43M of that is being directed to the City of Apache Junction and Pinal County Flood Control District for this project. The federal funding will cover approximately half the nearly $100M project. The full scope of the project has not yet been defined but is easily the largest…