Brace yourselves for a transformative wave of prosperity as the Town of Queen Creek and other cities in Pinal County and the Southeast Valley emerge as the epicenter of economic growth. Historic milestones will reshape the future of multiple communities, including Queen Creek, where
The revamped plans for Pivotal Group Inc.’s The Central Park took a big step forward Dec. 8. Phoenix’s Planning Commission recommended approval of the project with updated stipulations on a 5-0 vote, but only after a lengthy public comment discussion between commission members, the project’s
Preleasing for the 2024-25 school year is already off to a fast start, according to Yardi Matrix’s National Student Housing Report. Preleasing reached 25.2% for the Yardi 200 in October, which is ahead of the record-setting 10.4% pace seen one year ago. The strong preleasing is indicative of early
It’s no secret that home loan interest rates are at generational highs and reducing the purchasing power of first-time and repeat homebuyers as a result. While mortgage rates will hopefully decrease from recent highs over the next year, they’re unlikely to return to the all-time lows available just
The economy seems on track to deliver more of the same next year, and that could be good or bad, depending on your perspective. Inflation might continue to moderate, interest rates could start coming down, unemployment may rise but not to alarming levels and the economy once again
The good news for 2024 in U.S. commercial real estate according to Colliers is the chance to adjust to a new market reality, including a more stable interest rate environment, and some appealing investment opportunities. The bad news is some of the same, because anyone pining for the heady
Nearly a year after Mack Real Estate Group submitted plans for a rare Scottsdale industrial park, the site plan for the project is set to be heard by the city’s development review board. Dubbed Mack Innovation Park, the New York-based developer looks to bring 1.2 million square feet of industrial
Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, and Sunstone Two Tree, a developer and operator of rental housing communities in high-growth markets throughout the United
Advance leasing for the 2024-2025 academic year has gotten off to the fastest start on record, according to the latest Yardi Matrix student housing report. Pre-leasing reached 25.2% for the Yardi 200 roster of major universities in October, well ahead of the previous record of 10.4% set
Arizona’s Silicon Desert boom is encouraging semiconductor equipment maker ASM and other technology companies to take a close look at building, relocating or expanding in metro Phoenix. The Dutch company, which has been operating in Phoenix for 47 years, plans to build
The Global Ambassador, a luxury hotel from famed Arizona restaurateur Sam Fox, and four of its five restaurants open today on the northwest corner of 44th Street and Camelback in Phoenix. Fox, a 12-time James Beard Award nominee, sold Fox Restaurants Concepts to The Cheesecake
Consumers continued to dine out in 2023 despite the uncertain economy. New restaurant openings and diner spend both increased up year-over-year in 2023, according to a new report from restaurant technology partner BentoBox. The study revealed that 10,608 restaurants opened across the
PHOENIX – The first federal funds have been allocated for reestablishing passenger rail service between Phoenix and Tucson, U.S. Rep. Greg Stanton of Arizona announced Tuesday. The Arizona Department of Transportation was awarded $500,000 to help cover the costs of planning an
The housing market’s headline news this year has been the affordability challenge brought on by mortgage rates reaching 20-year highs. Looking ahead to 2024, Zillow® predicts home buyers will have a bit more breathing room when it comes to housing affordability in 2024 — but only
Retail executives have long known that foot traffic increases when they can provide an “experience” for the customer, such as by adding gathering places or dining venues. Retailers are now taking that a step further by featuring in-store experiences such as nail and eyelash salons, coffee shops
With all of the holiday “special shopping days” around, there has been a narrative that Black Friday – the day after Thanksgiving – has declined in importance for retailers. However, according to Placer.ai data, this wasn’t the case during Black Friday of 2023. The metrics demonstrated that comparing
The 10-story office building at 200 E. Van Buren St., which includes the offices of The Arizona Republic and azcentral.com, has been purchased for $14.5 million. According to real estate database Vizzda, Phoenix-based ViaWest Group sold the building, located at Second and Van Buren
While year-to-date single-family homebuilder permits were down 17% in metro Phoenix, one Valley city reported a 1,058% increase in permits between January and October. Apache Junction recorded 776 building permits between January and October, up from 67 during the same
Two of the most notable new eateries in the U.S. are in Phoenix, according to Esquire, which released its list of the top 50 new restaurants of 2023 on Tuesday. How it works: Esquire reviewers sampled about 200 restaurants across the country over the past year and narrowed down
Amkor Technology, Inc., a leading provider of semiconductor packaging and test services, has announced its plan to build an advanced packaging and test facility in Peoria, Arizona. By the time of full project completion, Amkor projects to invest approximately $2 billion and employ approximately
A proposed development in Laveen intends to bring nearly 300 acres of development near the western edge of South Mountain Park, which could include an auto mall, hospital, resort and apartments. The developer contends the project will bring more intensive uses, and a major boost
As demand for industrial space pulls back nationally, Phoenix and the Dallas-Fort Worth region stand out as leaders for change in occupied space over the past year. Both markets report rising change in occupied industrial space at or near 3%, the highest rate among the top 20
A major mixed-use project in a prime location in Phoenix is poised to take a big step forward. The Central Park will be heard by the city’s Planning Commission on Dec. 7. The roughly 18-acre project, proposed by Phoenix real estate investment firm Pivotal Group, is adjacent to Steele Indian School
More price hikes are ahead next year but greater overall stability is also expected, according to JLL’s latest report. Calling 2023 a “year of stabilization for the construction industry,” JLL’s 2024 forecast states a strong project pipeline will keep the industry busy in the