Top 5 Phoenix submarkets for construction activity

Above: The Crossing at Cooley Station. Rendering courtesy of CCBG Architects

By Lucia Morosanu | MultiHousing News

As many companies transitioned to remote work, Phoenix has seen a significant in-migration from residents leaving overpriced metros in California, in search of more affordable alternatives. At the same time, local officials have worked to create a business-friendly environment that has attracted attention from big employers such as Google, Amazon and several life sciences companies.

Phoenix’s multifamily market fared well under the effects of the pandemic and closed 2020 as the best-performing market in terms of transactions. This confidence in the metro was also visible in the pipeline. Last year, roughly 17,800 new units were added to the inventory. There were 116 projects totaling 27,300 units underway in the metro as of February, according to Yardi Matrix data. That’s 8.5 percent of completed inventory, with the top five submarkets accounting for more than half of all construction activity in the metro, at 54 percent. Most of the new communities cater to upscale renters. Here’s a list of the most active submarkets in Phoenix in terms of multifamily development activity.

READ ON:

Share this!

Additional Articles

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories

Top 10 multifamily builders for 2022

By Ranking Arizona | AZ Big Media Here are the Top 10 multifamily builders in Arizona, based on public voting for the 2022 edition of Ranking Arizona, the state’s biggest and most comprehensive business

Read More »
February 2021
M T W T F S S
1234567
891011121314
15161718192021
22232425262728