By Jason W. Brooks | YourValley
Chandler’s planning administrator, Kevin Mayo, went over many development-related items at a Sept. 9 work session. His presentation included a list of 16 residential projects that have received all required permits, but developers simply haven’t begun construction.
One of those projects was entered into Chandler’s development pipeline back in 2016.
Mayo said the list of reasons developers have been unable or unwilling to build vary greatly. However, some common obstacles over the past five years have been financing and the availability of materials and labor.
“Each one has their own specific reasons,” Mayo said. “Everyone knows some of the market conditions. Interest rates are higher. There’s a receding amount of financing available for them. Construction loan rates have doubled. And demand for things like concrete and steel has gone way up.”
