Developers expect to break ground soon on a brand-new Costco store in north Phoenix. The wholesale retailer will be a first user within Halo Vista, a massive master-planned community surrounding TSMC Arizona’s campus. A groundbreaking ceremony is slated for March 26, and the project’s developers said they are hopeful the store will be “selling hot dogs first quarter of next year
A popular grocery store and two apartment complexes are under construction in the East Valley. Whole Foods Market is preparing to open a new store in Scottsdale. A high-rise apartment complex will be among the tallest buildings in Tempe. More than 200 units of multi-family housing are under construction in Gilbert near Banner Gateway Medical Center. Here’s what is being built in metro Phoenix
Mortgage rates are continuing to drop, landing at levels not seen in more than three years and offering a rare boost to housing affordability amid broader economic and policy shifts. According to Freddie Mac, the average 30-year fixed-rate mortgage fell to 6.01%, as of Feb. 19, down from 6.09% the prior week and substantially lower than 6.85% a year ago. Also, the 15-year fixed rate eased to 5.35%, compared with 5.44% in the previous week and 6.04% a year earlier
The national and Arizona multifamily market news has been filled for the past 18 months or so with news of market cooling, deliveries outpacing demand after the post-pandemic rush to build, increased vacancies, declining rents, et cetera. To give some of the most current numbers, in its Q4 2025 Phoenix Multifamily MarketBeat report, Cushman and Wakefield reported a 12.8% year-over-year increase in vacancies for Metro Phoenix
The Greater Phoenix office market’s fourth quarter 2025 posted its strongest net absorption since fourth quarter 2019, totaling 531,893 square feet, according to an analysis from Colliers in Arizona. The uptick in net absorption and 10-year low construction activity led to a decline in direct vacancy to 15.1 percent, according to a report released by Colliers
The Real Estate Roundtable (RER) said its First Quarter 2026 Sentiment Index registered 66 overall, down one point from Q4 2025, as respondents described a market in the early stages of a tentative, uneven recovery. Tariffs and interest-rate uncertainty continue to widen buyer-seller spreads and slow price discovery
Biltmore Fashion Park has signed several new leases and have new tenants opening in Phoenix’s long-running luxury outdoor mall. Red Development, which owns and operates Biltmore Fashion Park, announced this week five new tenants have recently opened or will be opening soon in the mall. Construction is set to start later this month on new spaces for FP Movement, the Free People brand of activewear, and Solidcore, a high-intensity workout studio
The Arizona Cardinals broke ground on a new performance center and team headquarters Thursday, moving forward in an attempt to improve practice facilities that NFL players deemed among the league’s worst in 2025. The north Phoenix development — which is expected to be ready in time for preseason training camp in 2028 — is located on a 217-acre property that was purchased at auction for $136 million
Work on one of Arizona State University’s most significant construction projects is scheduled to start this year, joining a lineup that includes signature new builds to support the community and renovations to improve the student experience. The new ASU Health building, a 200,000-square-foot structure in downtown Phoenix, will house the John Shufeldt School of Medicine and Medical Engineering, the Health Observatory at ASU and the School of Technology for Public Health
Projections for U.S. retail metrics remain unchanged through 2026 in a new forecast from CoStar Group. Consistent with the previous forecast, which had vacancy peaking at just under 4.4%, the metric is expected to rise minimally in the first half of 2026 before falling slightly during the latter half of the year and into 2027. Although receding, store closures are expected to increase in the first half of 2026 as the bifurcated retail sales environment pushes certain tenants to trim locations
Arizona ranked 4th in net domestic migration in 2024, gaining 55,505 new residents, according to an analysis from the Economic and Business Research Center (EBRC), which focuses on applied economic research and community education for Arizona. In 2024, over 7 million Americans changed their state of residence, according to the 2024 1-year American Community Survey (ACS). This substantial movement reflects ongoing demographic shifts reshaping the nation’s population
When the Sprouts Farmers Market headquarters opens this summer, the CityNorth development at Loop 101 and 56th Street will be home to two of the state’s nine Fortune 500 companies. The roughly 100-acre development, led by Crown Realty Group, is also home to waste management company Republic Services’ headquarters, which opened in January, Rick Carpinelli, who leads Crown’s Phoenix operations, said. Republic Services built a 250,000-square-foot headquarters
Major local and national developers could soon battle for prime land in north Peoria at Arizona State Land Department auctions. PulteGroup, Vestar, Sunbelt Investment Holdings and Land Resources have all applied for land in the North Peoria Gateway area – a nearly 1,600-acre swath of property adjacent to the Vistancia master-planned community. “We expect this year to have several land auctions, most of it going to retail, some housing,” Peoria’s economic development
A proposal to build a new extended-stay Hyatt Studios hotel near the entrance to the Taiwan Semiconductor Manufacturing Co. campus in northern Phoenix has cleared a potential zoning hurdle and appears to be in the final steps toward receiving approval. Scottsdale-based CaliberCos Inc. plans to build the 114-room hotel on the corner of Sonoran Desert Drive and 29th Avenue, just east of the intersection of Interstate 17 and Loop 303. On Wednesday, a Phoenix
Retail sales rose modestly in January as consumers continued to show resilience. Core retail sales (excluding restaurants in addition to auto dealers and gas stations) edged up 0.15% month over month in January and were up 5.51% year over year, according to the CNBC/NRF Retail Monitor, released Thursday by the National Retail Federation. Total retail sales (including restaurants but excluding automobile dealers and gasoline stations) rose 0.2% month over month
The city of Phoenix’s new community and economic director believes in the upward trajectory of this city. Ryan Touhill has spent his career in Virginia, but the possibility of the Valley of the Sun drew him to the desert this year after longtime Economic Director Christine Mackay left to take the helm at the Greater Phoenix Economic Council. Touhill joined The Show to talk about his new role, his views of the city and the challenges it faces
A new Trader Joe’s is coming to Tucson, right next to the University of Arizona. The new Trader Joe’s will take over a vacant building that formerly housed a Dollar Tree at the intersection of Broadway Boulevard and Campbell Avenue. It’s been in the works for several years, according to the Arizona Daily Star
Forbes Travel Guide has honored 23 Arizona hospitality favorites — hotels, resorts, spas and restaurants — with 2026 Star Awards. Forbes Travel Guide — the only independent, global rating system for luxury hotels, restaurants, spas and ocean cruises—today unveiled its 2026 Star Awards
A cooler-than-expected consumer price index (CPI) report offered markets a welcome surprise last week. Continued softening in housing costs, lower energy prices and a temporary drop in used-car prices led to a 0.2% monthly increase in January price levels, bringing the annual reading down to 2.4% from 2.7% in December
The U.S. retail property market entered 2026 on firmer footing, following a turbulent first half of 2025 marked by elevated store closings and more space vacated than newly occupied. The picture changed in the second half of the year, with demand for store space increasing sharply in the fourth quarter, the wave of store closings appearing to crest, and a dearth of new construction keeping a lid on new supply
For the fifth time, ASU ranked in the top 10 universities worldwide for United States utility patents on the National Academy of Inventors’ annual Top 100 Worldwide Universities list released today. ASU ranked No. 9 worldwide for the third consecutive year and rose one spot to No. 5 nationally among universities granted U.S. utility patents in calendar year 2025, ahead of Harvard, Johns Hopkins University and Caltech. This marks the eighth consecutive year ASU ranked in the top 10 nationally
Location: 4801 E. Thistle Landing Dr., along 48th Street, between Ray Road and Chandler Boulevard in the Ahwatukee part of Phoenix. Description: A large data center and technology park is getting ready for construction in the south Phoenix community of Ahwatukee
Cities in the West Valley are transforming from bedroom communities into massive residential areas with emerging employment and retail hubs. Those cities, which include Avondale, Goodyear, Buckeye, Glendale, Peoria and Surprise, have seen their populations grow between 4% and 22% in the past five years — and they have ample space to continue growing
Over the course of every 12 months, we put out a total of 100 issues. Today is Issue 100 and brings Volume Year 16 to a close. We’ve marked these year ends in various ways over the years. Sometimes we’ve done top project reviews; sometimes we’ve just let them slide by without note