VAI Resort, which will be Arizona’s largest resort when it completes construction, released new renderings on Wednesday showing how the hotel’s lobby, retail area and interiors of rooms will look. The Glendale resort’s focal point is an amphitheater with a capacity for 8,000 concertgoers. The venue
A RealPage analysis of the apartment market fundamentals this week explains how the industry continues to rebound in 2023 even during this flat-rent period. “It’s rent disinflation without demand destruction,” according to the report. “Why? Supply, supply, supply.” Apartment completions in Q3 soared to the highest
GILBERT, AZ – Olympus Property, a renowned real estate investment and property management company, announced the successful acquisition of Aiya, a 360-unit garden-style community nestled in the heart of Gilbert, AZ. Crafted in the image of a high-end resort, this Class A newly developed property is widely
250,000-Square-Foot, Experience-Focused Sporting Goods Retailer Welcomed First Shoppers Saturday, Sept. 30. New Retailer Takes Place of Former Department Store, Approximately 100,000 SF Larger Than Previous Anchor. SANTA MONICA, Calif., Oct. 03, 2023 (GLOBE NEWSWIRE) — Macerich (NYSE: MAC)
Colleges and universities have seen strong enrollment growth since the pandemic. This growth has been challenged by historically limited new supply of rental units. As an investment opportunity, student housing makes a compelling case, as it has shown resilience in economic downturns. But
Arizona Democratic House members Ruben Gallego and Greg Stanton said Monday the state is receiving more than $1 billion from the Bipartisan Infrastructure Law to help repair highways and bridges and to build accommodations for electric vehicles. “Investing in Arizona’s highways and infrastructure
Officials said Wednesday that Super Bowl visitors spent over $200 million in Arizona back in February. PHOENIX — Super Bowl 57 in Glendale generated an economic impact that was 40% bigger than the last time Arizona hosted the big game, according to new figures disclosed
Office prices in the U.S. are headed for a crash, and the commercial real estate market faces at least another nine months of declines, according to Bloomberg’s latest Markets Live Pulse survey. About two-thirds of survey respondents believe the U.S. office market will only rebound
Ridgehouse Cos. is in the early stages of planning an apartment building just south of Chase Field in downtown Phoenix. This proposed project would add to nearly a dozen projects in the construction pipeline totaling more than 3,200 units within a 1-mile radius of Chase Field, according to Peter O’Neil, research
ViaWest Group, a leading Phoenix-based developer, and Willmeng Construction, a renowned construction company, celebrated the official start of construction for The Base, Phase I in Glendale. This groundbreaking ceremony marks the beginning of the development of a state-of-the-art
A new planned community could be coming to the southwest Valley. Scottsdale-based Harvard Investments, a real estate investment and development company, announced this month it acquired the 1,864-acre King Ranch in Goodyear for $22 million. The land was purchased from Dallas-based
Residents have started to move into the Acoya Shea community in Scottsdale. The 147-unit luxury senior community, which comes with amenities like an on-site salon, an outdoor courtyard with a swimming pool, multiple restaurants, a game room and much more, is located near the prominent corner of Scottsdale
More decision-makers at the Federal Reserve and on Wall Street are coming around to the view that the U.S. economy can avoid a crash—or at least have a kinder, gentler recession than they once predicted. Economists at Deutsche Bank issued a revised outlook for the economy Monday, toning down
Due to the high levels of occupancy in the retail sector and its undersupply of new development, current owners and investors are poised to capitalize upon the sector’s strong fundamentals and long-term rent growth, JLL says. Net absorption increased 12.6% quarter-over-quarter up
The final subdivision plat for a rare Tempe industrial park has received city council approval. Tempe City Council voted in favor of Overton Moore Properties’ new three-building, 690,000-square-foot spec industrial park at 1480 N. McClintock Drive — the site of the former Big Surf Wave Park and the Inland Oceans
Pickleball is the hottest sport in the country right now — often to the chagrin of tennis players vying for court space and neighbors with sensitive ears. The Show’s Nick Sanchez just might have found a solution. On a recent Sunday afternoon at Arizona Mills Mall in Tempe, patrons are shopping
Wall Street investment firm Goldman Sachs predicted metro Phoenix home prices would plummet 25% this year. It was wrong. The Phoenix-area median home price was $412,000 in early January when Goldman made the prediction. The median is now about $430,000. That’s a more than 4% increase
The Freddie Mac Multifamily Apartment Investment Market Index (AIMI) rose by 5.1% in the second quarter. This was the second consecutive quarterly increase of AIMI nationwide and in all 25 markets. On a year-over-year basis, the index saw a decrease nationwide and in 23 markets. However, the year-over-year drop
Scottsdale-based Aspirant Development has been busy planning major projects in and around downtown Phoenix over the past year. News broke this summer about the company’s plans to move forward with a 45-story tower and mixed-use project called Astra after it was first proposed several years
Where does Phoenix want to grow retail and restaurants? Restaurants, shops and entertainment options can create a sense of place in neighborhoods and can preserve an area’s culture. Karla Scott is the economic development program manager for Phoenix and focuses on retail. She outlined
A Hilton-branded hotel in Old Town Scottsdale has been sold roughly three years after it opened in one of the year’s biggest hospitality deals. The 177-room Canopy by Hilton Scottsdale Old Town hotel was acquired Sept. 26 by Dynamic City Capital for nearly $102 million, according to real estate database
Arizona housing units rose 8.3% from 2010 to 2020. This article reports on housing in Arizona based on the 2020 Census. It will look at what changed over the decade between 2010 and 2020, how the 2020 data compares to the nation, to other states, within Arizona, and in some cases, by race
The next billion-dollar development project in north Scottsdale took another step toward reality on Wednesday. A rezoning for The Parque — a mixed-use development at the site of the former CrackerJax amusement park — was recommended for approval on Sept. 27 by the Scottsdale
For sale: lightly used regional sports park in Mesa. 41 pickleball courts. 22 soccer fields and more. $150M OBO. Call Henk Taylor. Not for sale: 320 acres of land. Nonprofit Legacy Cares hopes to execute a sale soon of Legacy Park, the sprawling amateur and youth sports facility in southeast
The West Valley in Phoenix is set to receive the largest supply addition on record this year, with more than 4,600 new apartment units expected to be completed by the end of this year. For comparison, the region had less than 3,000 cumulative net completions from 2010 to 2019. The West Valley includes many