Maracay to open Gilbert community. • Marathon Ranch • 63 “oversized” home sites • Single-story floor plans • All USGBC • “Designed with the outdoors in mind” • S.E. of Riggs & Val Vista • Amenity details and grand opening info in Builder. http://bit.ly/2ss6U5g
Block of homes in central Phoenix to be demolished for apartment complex. Crescent Communities has plans for Midtown, “a 329-unit apartment complex” where the now-fenced-in properties are situated, along Earll and Cherry Lynn “between Third and Fifth streets.” But AZCentral’s Catherine Reagor reports that some analysts are keeping a close eye on such new developments due to “concerns about overbuilding.” http://bit.ly/2sleOyd
ASU sells 9.29 acres to Alliance Residential. The multifamily developer snagged the “surplus land located at the [SE] corner of Rio Salado Parkway and Price” with “plans to develop a 276-unit… luxury apartment community called Broadstone Rio Salado.” Real Estate Daily News has the deal and development details. http://bit.ly/2xuQSxi
Luna Azul breaks ground in Phoenix. “The [30-home] development, which is located at 16th St. and Loop 101, is the nation’s first for-sale residential community for adults with special needs.” Developer Mark Roth “decided to develop the community when looking for a permanent housing solution for his daughter with special needs.” Arizona Foothills Magazine. http://bit.ly/2J1LPpA
A new, “exclusive” student housing complex is coming to Tucson. “The four-story complex [‘Hub Speedway’ from developer Core Spaces] will have 57 units with 183 beds for rent in one-, two-, and four-bedroom models on the south side of Speedway at Tyndall Avenue.” See it, read about it, in Arizona Daily Star. http://bit.ly/2IYrDcc
Six myths & fallacies of the construction labor crisis. Trumpeting the slogan “Productivity is the issue, and marketing to Generation Z is the challenge,” Builder’sJohn McManus highlights the “myths and fallacies” that “are holding back the residential building and business community from taking the necessary steps to invest in people, processes, and technology that will alleviate the current — and worsening — construction capacity crisis.” http://bit.ly/2J16LwJ
Study: Hottest home buyer names. Names that saw an uptick in 2017? “Lin, Zhang, Wu, Liu, and Huang.” Meanwhile, “Burns, Porter, Jenkins, and Cole” saw a drop-off. ATTOM did the analysis,REALTORMag has the highlights, including the “Hottest Homebuyer Family Names By State.” Tops in Arizona? HINT: It’s the last name of a former U.S. President. http://bit.ly/2H3KKM7
Casa Grande’s Promenade mall sold. “Lamar Companies, a New Jersey-based proprietor of shopping malls, purchased the 125-acre shopping center on May 17.” Vice president of Lamar Companies, Frank Maresca: “Promenade at Casa Grande is the dominant shopping center in the market, and we look forward to implementing our business plan to further improve the tenant mix and occupancy of the asset…” PinalCentral. http://bit.ly/2H3KzQR
[OPINION] Henninger: Salt River rising is new opportunity for Scottsdale. In Scottsdale Independent, Don Henninger champions “the continued development happening on the Salt River Pima-Maricopa Indian Community.” Henninger, the founder and executive director of the Scottsdale Coalition of Today and Tomorrow, says such “coopetition” is “good for both” tribal community and Scottsdale, but with the caveat that “it does put Scottsdale on notice that inaction is not a desired option.” http://bit.ly/2LMlOMD
Piper Plastics proposes Mesa HQ. “The subject site is a vacant parcel of approximately five acres at 4818 East Indigo Street within the Mesa Commerce Center Business Park… Piper Plastics is a manufacturer of ‘high tech plastic components… used in medical devices, aeronautical and transportation vehicles, [and] leisure equipment.’” AZBEX has the HQ proposal details. http://bit.ly/2LKx9N7
Representative Cook announces plans to tackle Pinal County water issues. An “estimated 14” water issues, in the form of “assured water supply permit applications that have been pending at [the Arizona Department of Water Resources] for several years.” Stating that “ADWR is holding these permits hostage” — and in order to “to boost Pinal County’s economic development” — Rep. David Cook (R-8) plans to “introduce legislation next session” to do something about the ‘hostage taking.’ SanTanValley.com. http://bit.ly/2L81UKY
New River to get new water supply, but can the deal control development in the area? “Residents of New River and Desert Hills should have a new water source by the end of July… They hope it puts a brake on overdevelopment, which they contend is at the root of the water problem.” Cronkite News. http://bit.ly/2L5s3du
272-acre Gilbert regional park breaks ground. The “massive” park along Higley doesn’t have a name yet, but that didn’t stop 150 people from attending the groundbreaking ceremony — including “Parks and Recreation Director Rod Buchanan, mayor Jenn Daniels and Maricopa County Supervisor Denny Barney,” Their remarks along with a pic of the dirt turning, plus a drone’s-eye rendering of the unnamed park, in AzBigMedia. http://bit.ly/2IYUiKc
Developers announced by Tech Parks Arizona. “The Boyer Company has been selected as the development partner to design, develop and finance the [20-acre] Technology Precinct in the UA Tech Park at The Bridges.” Ultimate plans? AZBEX reports that in addition to “300KSF office and lab space,” The Technology Precinct will include “a full service hotel and conference center,” and even MORE “office and lab space.” http://bit.ly/2IXKlRi
Pollack: The sun continues to shine. —> Both economically and otherwise, says economic field-general Pollack in this “Happy Memorial Day” Tuesday edition of the Monday Morning Quarterback. ‘Snapshot’ data includes —> U.S.: Consumer Sentiment, Mortgage Rates, Home Prices, New & Existing Single-Family Home Sales. AZ: Population Growth – Phoenix, Home Prices – Phoenix & Tucson, Hotel/Motel Occupancy. http://bit.ly/2xsdrmr
Queen Creek’s Economic Development Department receives AAED award. “[The Arizona Association for Economic Development] honored the community as the Small Organization of the Year…” Queen Creek Mayor Gail Barney: “The community is fortunate to have a dedicated and professional economic development team who is committed to the success of Queen Creek and is consistently working to bring high-paying jobs to our town.” Queen Creek Independent. http://bit.ly/2H3MiFP
Arizona has one of the richest towns in the U.S. “24/7 Wall Street reviewed the median annual household income in every American town with a population between 1,000 and 25,000 to identify the wealthiest town in each state… Almost without exception, the wealthiest towns have expensive real estate and are home to well-educated populations.” http://bit.ly/2xsRN1h
Shocker: Phoenix is not a basketball city, but Tucson is. “[WalletHub] compared more than 290 of the largest cities based on 21 key metrics, ranging from the performance level of each city’s NBA and NCAA Division 1 basketball teams to ticket prices to stadium accessibility.” Findings here: http://bit.ly/2LI1qfC
Replacement for Pinal’s historic Kelvin Bridge was a 20-year effort. “Built in 1916, the original bridge consists of one lane and spans the Gila River. The county project is replacing that bridge with a two-lane overpass…” So what took so long? Blame it on federal funding stipulations that resulted in one very time-consuming archaeological dig. PinalCentral. http://bit.ly/2H3SXzY
Current Club West owner vows to pay off loan in a month. “Facing an Aug. 21 deadline when he must either satisfy the loan or lose the beleaguered site, [Richard ] Breuninger told AFN Monday that he is arranging a $3 million financing package that will enable him to pay off [Wilson] Gee as well as bring cheaper water and a 50-bay, two-story Top Golf driving range to the site.” http://bit.ly/2J5mPxP
Cameron’s $5M + deals of the day – http://bit.ly/2LMotpB
