News Ticker

COVID-19 News Round-up for December 15th

Credit: AZ Big Media

Budget, Policy & Stimulus News 

Glendale Wants to Use CARES Act Funds for Homelessness 

Glendale’s Community Services Department has proposed a pilot program to curb homelessness by devoting $3.2M of a one-time grant fund through the Coronavirus Aid, Relief, and Economic Security Act to target affordable housing and homeless services. The Community Development Advisory Committee identified affordable housing as a top goal. The city has $3.2M in CARES Act funding and would manage the program under a proposed master services agreement. (Source) 

Economic News 

Phoenix Metro a Top Relocation Market 

The National Association of Realtors identified Phoenix Metro as a top 10 real estate market during and in a post-COVID-19 environment. The area ranked as the third largest in-migration market overall, and the largest for relocations from the West Coast. (Source) 

Phoenix Airport Hotels Down, but Hopeful 

Hotels in Phoenix’s airport submarket area have traditionally posted some of the best performance rates in the Valley. According to STR Inc., hotels around Phoenix Sky Harbor International Airport have had the highest occupancy rates of all metro area submarkets over the last three years. In 2020, however, the airport submarket dropped 36.4 percent compared to 2019. Through October, 2020’s occupancy rate was just 49.6 percent. Several hotel projects in the area have been put on hold, but developers are anticipating an uptick in 2021 as coronavirus vaccines see widespread distribution. (Source) 

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