Challenges in Repurposing Commercial Projects

by James B. Connor

With the desire by many Arizona residents to experience a more urban lifestyle, the repurposing of commercial buildings and areas has become very popular over the last seven years. As evidenced in Phoenix by the Seventh Street Corridor, Roosevelt Row and ASU’s downtown campus, these projects can thrive, but it is important to note that… [More]

Camelback Luxury

by Mike Hunter

District at Biltmore is the latest luxury apartment community in the Camelback Corridor from Kaplan Management Company and Simpson Housing® LLLP. The four-story luxury mid-rise is conveniently located within walking distance to the Biltmore Fashion Park, and offers 227 elegant one- and two-bedroom apartments. Among its one-of-a-kind amenities are a large fitness center that includes… [More]

Canadian Investment

by Mike Hunter

Canadian-based Western Wealth Capital continues to add to its Arizona rental portfolio; it is the third largest multifamily owner in the Phoenix area. The real estate investment company and its partners recently acquired Tierra Santa, a 274-unit rental building, for US$13.4 million. WWC considers Phoenix a highly prospective rental market owing to robust population and… [More]

Net-Zero Townhomes

by Mike Hunter

Real estate investment firm Caliber – The Wealth Development Company has partnered with one of the nation’s leading Net Zero Energy (NZE) developers, MODUS Development, on their second project, Eclipse, which officially broke ground and has begun development. This is Scottsdale’s newest environmentally sustainable townhome community, designed with Zero Energy Star® certification for maximum energy… [More]

Strong Multifamily Market

by Mike Hunter

Greater Phoenix’s multifamily market continues its dynamic pace, according to a report released by Colliers International in Greater Phoenix. During the first quarter of 2017, vacancy fell 40 basis points to 5.6 percent. This is welcome improvement for the beginning of the year, but the rate is 40 basis points higher than a year ago.… [More]

Relo Bay Area to Phoenix 

by Mike Hunter

The Phoenix office of JLL has completed a new, 38,000-square-foot lease that will relocate FinTech company Upgrade Inc. from San Francisco into two floors at Renaissance Center I in Downtown Phoenix. The move is the latest example of a Silicon Valley company expanding its essential business functions in Phoenix. Upgrade is hiring 100 customer service, credit operations and… [More]

Lobby Renaissance

by Mike Hunter

Cypress Office Properties, LLC has commenced construction on phase one of a $50 million renovation of Renaissance Square in Phoenix. The first phase includes upgrades to both buildings’ lobbies, each to have a different theme. Building One (pictured) will have a “tech” atmosphere. Building Two will have a warm hospitality feel with boutique-style interior finishes.… [More]

Trending: Seniors Housing 

by Mike Hunter

Savanna House Assisted Living and Memory Care, developed by Prevarian Senior Living, recently opened in Gilbert. A full complement of amenities makes it a self-contained social community, with private residences as well as an assisted living portion. It will also place a special emphasis on Memory Care, offering three distinct memory care neighborhoods, each catering… [More]

Camelback Corridor Resurgence

by Mike Hunter

Since the grand opening of the Arizona Biltmore Resort in February 1929, the area known as the “Camelback Corridor” hasn’t missed a development beat. Stretching along Camelback Road between 7th and 64th streets, the submarket long ago reached the “built out” stage, with virtually every infill site along the route developed into premier residential or… [More]

Zoning – Consequences of Code Violations

by Bruce May

Zoning is the manner in which cities and counties regulate land use. Typically, land is divided into residential, commercial and industrial districts, or it can also be designated as mixed-use, each with its own parking, setback, height and other design requirements. In addition, the city, in the course of approving a zoning application, may require… [More]