The White House has designated Phoenix as a workforce hub to help meet the demand for qualified and diverse talent in semiconductors, renewable energy and electric vehicles. Phoenix was picked as one of five hubs dedicated to building up a workforce, specifically because
A group of business leaders representing electric and autonomous vehicle sector giants Lucid, Waymo, Nikola, and Cruise gathered in Phoenix last week for a panel discussion about the future of their industries in Arizona and nationally. Moderated by Arizona Commerce Authority
Global investment firm KKR has acquired $250 million of industrial properties through its KKR Real Estate Partners Americas III fund. The acquisition signals that KKR is weighing more of its opportunistic real estate investments to stronger performing property sectors. KKR Real Estate
Arizona will tap the brakes on new development in some parts of Greater Phoenix, Gov. Katie Hobbs announced on Thursday. The move won’t halt new construction in the state’s largest metro area, but it will certainly slow some forms of growth and could push
Metro Phoenix home sales are down, but prices are up. A short supply of Valley houses for sale is boosting home values. The median home price ticked up $5,000 in April and is expected to be up another $9,000 in May. Higher interest rates aren’t deterring all
A northwest Phoenix apartment development near the Taiwan Semiconductor Manufacturing Co. plant got zoning approval for 226 units from the City Council Wednesday night. The project at 17th Avenue and Happy Valley Road has drawn criticism from
Phoenix was ranked as the fourth-best market for new college graduates, according to a recent Zillow study. The Valley of the Sun was able to reserve a top spot due to an abundance of job openings, cementing it as a place of opportunity for recent grads, according to
The Riverview area may get a dense apartment complex between the Mesa Riverview Mall and Riverview Park that backers say will create a higher standard for apartment designs in Mesa.Last week the city Planning and Zoning Board signed off on the
Change in renter-occupied households in the Phoenix area, by income. Apartment developers looking to attract high-income renters say they’re thinking beyond gyms and pools when it comes to amenities. We’re talking rooftop dog parks, coworking
After years of surging home prices and more renters staying away from a mortgage commitment, the construction of single-family homes built solely for renting is breaking records. And Phoenix is leading the way, ranking No. 2 in U.S. as build-to-rent homes reached a
The Phoenix City Council unanimously approved a plan Wednesday to give up a share of its Colorado River allocation in exchange for money. “This agreement with the Bureau of Reclamation gives us a fantastic opportunity to not only reduce our Colorado River water
Chicago-based Belgravia Group Ltd. has broken ground on a $100 million luxury condominium project in north Scottsdale. With nearly 50% of the project already sold, initial deliveries are expected in late summer 2024 for the private gated community, called
The Bautista, a new development in the historic Mercado District near downtown Tucson, will add apartments, retail space and a restaurant to a neighborhood in the midst of urban revitalization. The $110 million project was approved by Tucson in 2022, and
Though Q1 2023 new construction deliveries are up 40% from this time last year with 129.0 million square feet (msf) coming online, starts were down 60% from Q1 2022 levels and fell 34% from Q4 2022. First quarter 2023 starts in the South and West regions, the two
Almost 99% of Phoenix properties are cheaper to rent than to buy, according to a new analysis from online real estate company Redfin. Context: That’s well above the national average of 81% and just slightly below the nation’s most unaffordable metros, like
The NHL has long supported the Arizona Coyotes in Arizona, but worries about the team’s long-term future in the state took another big hit when Tempe voters rejected a new arena for the team last week. One writer recently shed some light on a reason why
Green Street calls the industrial outdoor storage subsector “a beautiful ugly duckling.” Marcus & Millichap calls it “last-mile industry’s highly demanded, yet underdeveloped cornerstone.” Previously known as a niche within the larger industrial market, over the
Phoenix is one of the hottest markets for self-storage in the country, according to a recent report by industry group StorageCafe. The big picture: Interest in self-storage nearly doubled among America’s major cities from 2019 to 2022 based on increases in internet
Phoenix leaders are pushing Arizona’s congressional delegation to help low-income residents. Specifically, they want more federal vouchers for subsidized housing. Phoenix Mayor Kate Gallego calls voucher allocation political, “There’s been a hesitation in Washington, D.C., to update the
After months of declining prices real estate markets may be stabilizing. Phoenix prices also seeing improvement, but not quite at the same level as the nation. The S&P Case Shiller index is how Wall Street tracks home price trends. Nationally prices are up
We’re trendy. We have lots of good jobs. And our pricey apartments remain less expensive than those in most other major metropolitan areas. That was enough to land Phoenix on Zillow’s new list of top markets for college grads. State of play: Phoenix ranked
WASHINGTON – It’s unclear which came first in Pinal County, the houses or the people filling them. What is clear is that both continue growing at some of the fastest rates in Arizona and, in some instances, the nation.The number of housing units in Pinal County grew by
High mortgage rates are discouraging homeowners from selling and fueling a growing lack of homes for sale in the Valley, a leading analyst recently warned. And that likely will fuel a price increase for those houses that are up for sale, according to
The semiconductor industry has experienced an unprecedented surge in investment in manufacturing over the past decade, with an average annual capex growth of 30%, reveals a recent report by JLL. The study highlights a substantial increase in capital
Investing for social and environmental change is not a new concept, but there has been a recent boost in demand for investment products centered on equity and inclusion, the affordable housing shortage, and the climate crisis. Allocations to impact investments