A 100-acre development that will bring apartments, offices, hotels, a grocery store and restaurants to north Phoenix near High Street and Desert Ridge Marketplace is beginning to take shape, as the first residents move into the first apartment building. CityNorth, a master-planned
On Nov. 18, demolition of Metrocenter Mall began to make way for a new, transit-oriented urban village named The Metropolitan. The development will have easy access to the new Thelda William Transit Center — a light rail stop that connects to the downtown area and the East Valley
Excitement is building for VAI Resort, the over-the-top Glendale entertainment complex that promises to bring the nonstop excitement of the Las Vegas Strip to the West Valley. Why it matters: The development team is betting big — $1.2 billion big — that it can attract high-rolling
What will the housing market look like in 2025? We already see many signals for what to expect, including last week’s data on inventory, new listings and price reductions, which I analyze below. For a more comprehensive look, read our 2025 Housing Market Forecast covering
Inflation in metro Phoenix continues to rise at a slower pace than inflation nationally, with prices here up 1.6% over the past 12 months through October. That figure, reported by the Bureau of Labor Statistics, compares with a 2.6% U.S. inflation rate, also for the 12 months through
PHOENIX — The federal government has finalized its investments in a technology company creating a massive chip-making operation in Phoenix that officials say will bring well-paying jobs for decades to come. The Taiwan Semiconductor Manufacturing Company (TSMC) is poised
Procter & Gamble Co. is moving forward with infrastructure work for its future manufacturing campus in Arizona, but it has yet to announce a construction start date. The consumer goods giant (NYSE: PG) is planning to build a $500 million plant for its fabric care brands including
Demolition of Metrocenter mall has begun, giving way to newly announced plans for the urban village that will replace it. The big picture: Developers and city officials on Monday revealed their vision for “The Metropolitan,” as well as a retail center to be called “The Loop.” Shortly after
Even with the median sales price climbing 3.6% to $475,000, the housing affordability index for Metro Phoenix rose 6.1% from 66 to 70 in October. This means that the median income reached 70% of the amount needed to afford the median home. “The lower interest rates make it financially
With about 173 Californians moving to Arizona every day, the state is quickly becoming one of the West’s hottest relocation hubs. In the last decade, over 630,000 Californians—roughly the size of Tucson’s population— have made Arizona their new home. So, with this
As he said “Star Trek” phaser weapons inspired his Tasers, it seems fitting to boil Axon founder Rick Smith’s request to City Council in Capt. Kirk language: “Zone me up, Scottsdale.” At a charged Nov. 13 meeting – months after an early version of his plan was rebuffed
PopStroke, a Florida-based golf entertainment concept with the backing of Tiger Woods, has proposed its third location in the Valley. There are plans for PopStroke to build the entertainment venue on 4.25 acres of vacant land near the SanTan Village shopping and
The 2024 holiday shopping season is poised for unprecedented activity, with the National Retail Federation (NRF) estimating a record 183.4m shoppers across both online and in-store platforms from Thanksgiving Day to Cyber Monday. This reflects a surge in consumer enthusiasm
The White House has finalized an agreement to award a $6.6 billion CHIPS Act grant to Taiwan Semiconductor Manufacturing Co. and plans to disburse $1 billion to the chipmaker by the end of the year to support its Arizona factory site. The U.S. Department of Commerce on Friday said
Multifamily cap rates are returning to pre-pandemic levels, reigniting investor interest as property values stabilize and transaction activity picks up. A new report from American Landmark suggests the sector is poised for a moderate recovery driven by strong apartment demand
Axon’s controversial mixed-use development headquarters is one step closer to reality in Scottsdale. After a two-hour hearing, the Scottsdale Planning Commission voted unanimously to recommend the City Council approve the project proposed by the maker of Taser stun guns
A new Trump administration, with Republicans in charge of both chambers of Congress, likely means significant changes in various areas of law that could affect commercial real estate. One area is taxes, especially around extending deadlines—or making permanent—areas of the
Land Advisors Organization announced that its Homebuilding Team recently facilitated the sale of two adjacent land parcels in the City of Maricopa, Arizona. The transactions are slated to bring 431 new multifamily housing units to Maricopa, one of the nation’s fastest-growing cities
So far this year, stabilization has been the word for industrial real estate and industrial markets in the U.S. Considerable reshoring tailwinds are contributing to a surge in manufacturing development. And as more domestic manufacturing facilities near completion in key markets
Phoenix-based Vestar has announced a construction start date for its massive shopping center in Buckeye that’s set to feature a Harkins BackLot, a Target, Safeway and more. The retail developer plans to hold a groundbreaking ceremony on Nov. 20 for the new Verrado Marketplace, which
TA Realty, a global private-equity firm based in California, has acquired the newly constructed Chandler Airpark 202 industrial development in Chandler, Arizona, for $75.6 million. The property features four buildings totaling 402,487 square feet. US Capital Development and Ares Management
The Arizona and national economies are growing at a healthy pace, with favorable trends for employment and inflation as Donald Trump’s election presents new opportunities and challenges. That was the general overview by speakers at Arizona State University’s annual economic-forecast
CMBS loan losses are down, according to Trepp. A total of $75.7 million across 10 loans were resolved with $47.3 million in total losses for October. That was down from the previous month when the losses hit $139.5 million. The average loss severity was 62.52%. Looking over the last 12 months
Axon, the maker of Taser stun guns, police body cameras and other law enforcement technology, will be back before Scottsdale’s Planning Commission Wednesday pitching a revamped proposal for its $1.3 billion headquarters and accompanying mixed-use development