New single-family housing will be built on the five-acre site of the iconic Ascension Church in Paradise Valley, after business partner of celebrity chef Gordon Ramsey purchased the church for $11 million — $500,000 over asking price. The church’s close proximity to the $2 billion Ritz Carlton Paradise Valley project puts it at the center of an increasingly popular and growing … [More]
Dominium Developing Affordable Apartment Homes in Goodyear
Dominium, a leading affordable housing owner, developer and manager, recently closed on the approximately 28-acre site located at 16985 W. Van Buren Street in Goodyear, where it plans to construct 657 new affordable apartment homes for low-income families and seniors. Once constructed, Estrella Springs and Suncrest Vista at Canyon Trails will provide a combined total of 396 … [More]
Redevelopment at Scottsdale Fashion Square Progresses with More Retail Space for Men, More Dining
Macerich, one of the nation’s leading owners, operators and developers of high-quality retail and mixed-use properties in top markets, detailed progress for its current redevelopment of the south wing at Scottsdale Fashion Square, including more experiential dining and more retail space dedicated exclusively to men. During Macerich’s Q2 2023 earnings call with analysts, … [More]
Visiquest Properties’ 59 Evergreen Community Earns AMA Honors
It took vision (and five years) to transform a nearly 50-year-old, partially completed townhome project into a modern, award-winning multifamily community. Where countless developers saw the former Las Casas Contentas subdivision as a partially abandoned lot and aging eyesore along 59th Avenue in Glendale, Visiquest Properties saw an opportunity to bring a best-in-class … [More]
Arizona Housing Fund Partners with Multifamily Industry to Fund Affordable Housing Projects
Arizona has a homelessness crisis and members of the Arizona Multihousing Association are coming together to launch the Arizona Housing Fund Application Donation program, a voluntary initiative to help fund more affordable housing for those who need it most. Participating multifamily property owners and management companies are donating $5 for every lease application they … [More]
Renowned Restaurant Group Named Culinary Provider at Esplanade
The ownership team behind the $45 million renovation and enhancement of the Esplanade campus—one of Phoenix’s most prestigious mixed-use office destinations—is pleased to announce its newest partnership with DMK Restaurants as its hospitality and culinary provider. This partnership advances upgrades in progress to four office buildings and the addition of 30,000 square feet of … [More]
Phase One of $117M Multifamily Development in Opportunity Zone Breaks Ground in Phoenix
Banyan Residential, a Los Angeles-based private real estate investment firm, in partnership with national developer Milhaus, has commenced construction on the first phase of a new 515-unit luxury apartment community in Phoenix, Arizona. Phase one, a $117M development consisting of 320 units, is expected to be complete in Q4 2025. UMB, with syndication by First Merchants and … [More]
Property Manager Selected for Retail Component of Arizona’s Largest Urban Commercial Development
Vestar, one of the leading privately held shopping center owners and managers in the western United States, announced that they have been selected as the primary property manager for the hospitality district within Novus Innovation Corridor, ‘Novus’. The groundbreaking 355-acre project is redefining urban mixed-use developments, creating a fully walkable, sustainable … [More]
New Gated Townhome Community in Arcadia Opens to Residents
A Phoenix-based, newly built gated townhome community, Willow 38, recently welcomed its first residents. Willow 38, nestled in the Arcadia neighborhood, is an energy-efficient community enabled with smart home technology and constructed with sustainable building materials. As a MEB Management Services community developed by Raintree Investment Corp., Willow 38 offers three … [More]
Build-to-Rent Community in Glendale Breaks Ground
Mosaic, the nation’s leading institutional-grade general contractor, has broken ground on Avilla Palomino, a new build-to-rent (BTR) community, by NexMetro Communities, with 197 cottage-style apartments and amenities in Glendale. The new community helps alleviate the shortage of high-end rental home options for families and individuals in the Phoenix metro area. Avilla … [More]
Mixed-Use Development Breaks Ground near Taiwan Semiconductor Plant in Phoenix
Thompson Thrift, a full-service nationally recognized real estate company, announced today the commencement of construction on master infrastructure improvements and approximately 35,000 square feet of freestanding and multi-tenanted retail space near the $20+ billion Taiwan Semiconductor Plant (TSMC) in northern Phoenix. "The property is advantageously situated along a main … [More]
Massive 3.6 MSF Industrial Park to be Developed on 225 Acres in Buckeye
Land Advisors Organization facilitates two transactions on behalf of the sellers for $37 million to a joint venture between Van Tuyl Companies and the Eisenberg Company, set to bring the Buckeye 225 Industrial Park for development and sale to the West Valley. Scottsdale, Ariz. (August 17, 2023) - Two land sales in Buckeye, Arizona, totaling 225 acres for $37 million, will be … [More]
Another Industrial Project for Glendale’s 303 Corridor
VanTrust Real Estate, a national commercial real estate development company, has completed the acquisition of 66 acres in one of the most active industrial submarkets in the Western United States, the Loop 303 corridor in Glendale. The 66-acre parcel is located at the southwest corner of Northern Ave. and Reems Rd. It is ideally situated less than a mile east of the Loop 303 … [More]
216,688 SF Speculative Industrial Building Planned in El Mirage
Filling the void of +/-200,000 SF industrial properties being developed in Metro Phoenix, a joint partnership is breaking ground in September on a 216,688 SF spec industrial building on 13.26 acres in El Mirage, Arizona. Scottsdale-based Silver Creek Development and Atlanta-based Stonemont Financial Group plan to deliver the asset, El Mirage Commerce Center, in 3Q 2024, at … [More]
Gateway Airport’s $28M Terminal Addition Reaches Milestone
General contractor McCarthy Building Companies and DWL Architects + Planners recently celebrated the topping-out milestone at Phoenix-Mesa Gateway Airport’s (Gateway Airport) new 30,000-square-foot, five-gate terminal modernization project. The approximately $28 million project, which is being partially funded by a federal grant from the Bipartisan Infrastructure Law (BIL), … [More]
Five Homebuilders Named for New Master-Planned Community Near Eastmark
Blossom Rock at Superstition Vistas unveils The First Builders For Its Majestic New East Valley Community - The Phase One Builders include Lennar Homes, David Weekley Homes, Pulte Homes, Tri Pointe Homes, and Brookfield Residential Scottsdale-based Brookfield Residential announced five of the Valley’s top homebuilders are planning and designing the first single-family homes … [More]
Developer Breaks Ground on Tempe Town Lake Area Rental Community
Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced it has broken ground on Modera Rio Salado, a contemporary apartment community in the Tempe Town Lake neighborhood of North Tempe. Modera Rio Salado, which will feature 319 apartment homes, marks Mill Creek's third development in … [More]
Development Corp. Secures $39 Million Refinance for Newly Delivered Goodyear Industrial Project
Phoenix-based Baker Development Corporation (BDC), and New York’s Foundation Capital Partners (FCP), along with joint venture partner GTIS Partners, have secured a $39 million refinance loan for Yuma|143, a recently completed, 490,278-square-foot Class A industrial development in Goodyear, Arizona. The project reached 100% occupancy just last week, with the last of three major … [More]
