By Rebekah Morris for AZBEX
Last week the City of Maricopa hosted their quarterly Commercial Real Estate update with representatives from two key developments available to answer questions from residents and interested parties alike. Nearly 90 people registered for the event, a record high according to Economic Development Director Denyse Airheart.
Starting with the long and sustained influx of new residents, Airheart described the need for commercial development to stop the leakage of income for the city. Of note to commercial developers is that the amount of dollars going to nearby suburbs of Chandler, Casa Grande and the like is growing from $250M/year in 2012 to more than $368.8M in 2018. A recently completed housing needs assessment for the City of Maricopa identified zero multifamily stock, and a housing vacancy that continues to decline. New single-family homes are being built with just shy of 1,000 permits being issued in 2018.
