LAS VEGAS-At the ongoing ICSC show here, a clear theme emerged from the insights of three leading executives: the retail and service landscape is being reshaped by a relentless focus on meeting consumers where they are-both physically and in terms of evolving expectations. The pandemic, shifting consumer values, and the accelerating pace of
Surfing has long been a symbol for an aspirational coastal lifestyle. Now, with improvements in artificial wave technology, real estate firms are bringing the sport to unexpected areas including the Phoenix desert and the Denver mountains. Among the more ambitious firms is Aventuur, a Los Angeles-based development company that wants to build ground-up projects
Healthcare facilities drive development in cities in numerous ways. Hospitals and health campuses need construction crews to build the campus, creating jobs in that sector. Once construction is complete, hospital staffing needs continue to increase employment as well. Beyond creating a powerful economic engine, these centers of healing provide hope to
Here are the Top 10 home builders in Arizona, based on public voting for the 2025 edition of Ranking Arizona, the state’s biggest and most comprehensive business opinion poll. Ranking Arizona is based purely on opinion and ranks companies based on how voters answer this simple question: with whom would you recommend
The City of Phoenix’s plan to revitalize the downtown area and bring it back to the halcyon days before a mass suburban exodus in the 1970s has been nearly 10 years in the making. Through the first half of 2025, city government and private investment have utilized a number of tools at their disposal to reignite economic
Renting appears to be becoming more affordable across the country as the typical rent burden fell below the 30% of income rental affordability rule of thumb in most markets, according to Realtor.com’s April rent report. The study found that renters owning a typical household income spent 23.4% of their income to lease a typical for-rent home, down from 24.7% in April 2024. Only five of the top 50 U.S. metros had a rent
Commercial and multifamily mortgage loan originations increased 42% year-over-year in the first quarter of 2025 compared to a year earlier, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. The overall increase was driven by a rise in originations for office, healthcare and multifamily. Q1 saw a 205% Y-O-Y increase in dollar
New figures released Thursday by the U.S. Census Bureau show that Phoenix has reinforced its position as the nation’s fifth-largest city, registering the nation’s eighth-largest numerical population increase between 2023 and 2024. The Census Bureau’s Vintage 2024 estimates for cities and towns found that several cities in and around the Valley were among national leaders in population growth over one-year and four-year
The development makeup of downtown Phoenix has changed dramatically in the past two decades and while there are many factors behind that change – including the expansion of higher education campuses, light rail and more housing – sports, entertainment and other large events have played a key role in the area’s transformation. Chase Field, PHX Stadium (formerly Footprint Center) and the Phoenix Convention
A strip retail center at Bell and Scottsdale roads could be demolished to make room for a new apartment complex. Chicago-based Fifield Companies submitted plans to redevelop the 4.3-acre site near the boundary between Phoenix and Scottsdale. The site contains a two-story commercial center that, if approved by the city, would be razed to make room for a new housing project
WASHINGTON (Reuters) -The U.S. economy is on solid footing with inflation heading to the central bank’s 2% target, but trade policies have clouded the outlook, Federal Reserve Governor Michael Barr said on Thursday. “The economy is on solid footing, with solid growth, low and stable unemployment, and inflation continuing to come down towards our 2% target,” Barr said in remarks prepared
The multifamily sector is poised to overcome potential volatility during a period of uncertainty, according to Marcus & Millichap’s second-quarter multifamily national report. Growing concerns over tariffs and policy shifts have weakened both consumer and business sentiment, which could curb household formation, hiring activity and rental demand. However, multifamily fundamentals
The Consumer Price Index (CPI) for April rose 0.2% versus 0.3% consensus and -0.1% the prior month, according to the Bureau of Labor Statistics. On an annual basis, CPI printed at 2.3%. This was the slowest annual rate since early 2021, falling short of the consensus expectation that it would hold at 2.4%. Core CPI printed at 0.2% compared with expectations of a 0.3% rise and +0.1% in
Healthcare facilities drive development in cities in numerous ways. Hospitals and health campuses need construction crews to build the campus, creating jobs in that sector. Once construction is complete, hospital staffing needs continue to increase employment as well. Beyond creating a powerful economic engine, these centers of healing provide hope to people when they need it most
Update: The Tempe Development Review Commission unanimously recommended on May 13 to send The Leo, a two-story student housing project, to City Council for full approval. One notable change was made before the commission made its ruling — enclosing the pick up and drop off location with a roof. Original story: Plans for a two-tower, 20-story student
Both commercial real estate investment and lending activity were up significantly in Q1, according to a new CBRE report. CRE investment volume was up 14% year-over-year to reach $88 billion in the first three months of 2025. Trailing four-quarter volume was up by 18% year-over-year to $408 billion. That’s the largest amount since the third quarter of 2023. As one might expect with a large jump in investment, there was also a big increase in lending
The U.S. inflation rate hit a 40-year high after the pandemic but has since cooled significantly due to factors like the Federal Reserve rate hikes. The year-over-year inflation rate sits at 2.3% as of April 2025, lowest rate recorded since February 2021, but is still above the target rate of 2%. Various factors, such as the war in Ukraine and labor shortages, drive this higher than average inflation. Despite the country not meeting its target yet, the Federal
Construction crews are busy transforming hundreds of acres of North Scottsdale desert land. An update on a few of the biggest North Scottsdale projects: Optima: On Scottsdale Road just south of the Loop 101, Optima McDowell Mountain Village is well under way. The first of six planned apartment buildings – all to have rooftop pools – has been framed. Ultimately, the project plans 1,330 apartments and 36,000 square feet of commercial area
The long-delayed opening of what’s slated to be Arizona’s largest hotel project could face more setbacks, pending the results of a special election this month. Glendale residents have a May 20 deadline to vote by mail on two measures related to the massive VAI Resort project. Propositions 401 asks Glendale voters whether to uphold a decision made by City Council to rezone 10 VAI-owned acres adjacent to the resort that are slated to be
Optima, an internationally acclaimed architecture and real estate development firm, announced today the launch of sales for the first luxury condominium tower at Optima McDowell Mountain—a $1 billion, design-forward community in North Scottsdale that has already secured close to $27 million in early reservations ahead of its public release. Optima McDowell Mountain represents the latest evolution of architectural design, sustainability
The U.S. data center market has entered 2025 with remarkable momentum despite a cyclical pause in national absorption, Avison Young reported. Driven by sustained demand from AI and cloud users, the market continues to experience record-low vacancy rates. The trend persists even as supply struggles to keep pace with the growing needs of the industry. On a regional basis, Texas markets, particularly Dallas/Fort Worth, have surged ahead
In January, tech sector stocks tumbled when a Chinese artificial intelligence startup, DeepSeek, unveiled a large language model that operates at a much lower cost than U.S. versions while maintaining similar capabilities. DeepSeek reports that it spent just $5.6 million to train its AI, compared to the more than $100 million committed by OpenAI for GPT-4. While some critics question the veracity of DeepSeek’s claims, the intensifying demand to
Fox Restaurant Concepts announced May 13 it will be expanding its The Henry restaurant brand to the north Scottsdale area. The Phoenix-based company that was founded by Sam Fox and is now owned by the Cheesecake Factory has plans to build a new 7,000-square-foot restaurant space on the southwest corner of Scottsdale Road and the Loop 101 in a space once occupied by a Denny’s. The demolition of the Denny’s started last week
Glendale residents have just over a week to decide whether they’ll accept or reject two propositions that will approve zoning for a $1.2 billion resort. The special election for the VAI Resort near State Farm Stadium will be by mail-in ballots only. Opponents say the city doesn’t need additional development. Supporters argue that a yes vote will create much needed jobs. Garrick Taylor is with the “Yes for Glendale” campaign. “And those are for
Phoenix is on the verge of enacting zoning regulations to limit where data centers can be located. Why it matters: Data centers use large amounts of energy and space and can bring negative effects like noise pollution to surrounding communities, per an analysis by city staff. State of play: The city wants to direct data centers away from mixed-use, walkable and transit-oriented communities. They create few jobs, take up land that could be used