Milhaus, a national award-winning developer, owner and operator of Class A multifamily properties, has closed on its second residential apartment development in Tempe, Arizona. The $56-million Qualified Opportunity Zone development located at 2119 E Apache Blvd. will offer 219 studio, one- and two-bedroom apartment units and five live-work spaces. The complex will be … [More]
Class A Multifamily for Avondale
Scottsdale-based Sterling Real Estate Partners recently acquired 9.6 acres of land with plans to develop Crystal Cove, a 238-unit, Class A apartment complex in the heart of Avondale’s rapidly expanding community. The land is located in a Qualified Opportunity Zone, which provides for significant tax benefits to investors and will deliver additional multifamily housing to the … [More]
Landscape Trends in COVID-Era Residential Development
The year 2020 brought so many challenges, yet so many great stories. Isolation from lockdown simply reinforced our need for community and desire for social connections. “Netflix and chill” gave way to a beautiful spring where tree-lined pathways through community greenbelts were filled with joggers and bikers. Pet adoptions were at all-time highs, and the development of dog … [More]
Tri Pointe Homes Adding New Homes in Three Metro Phoenix Communities
In our hot housing market where low inventories are a big part of the problem, Tri Pointe Homes (which served the Phoenix market for more than 25 years under the name Maracay®) has acquired 210 homesites on which it plans to build new homes in three communities across the Phoenix metro area. The land purchases in Chandler and San Tan Valley fit the homebuilder’s growth strategy … [More]
Toyota Financial Services Center Opens with Regional Design and LEED Cert
Toyota Financial Services Experience Center West was recently completed. Located in Allred Park Place at 1650 S. Price Road in Chandler, Arizona, TFS West is a 56,219-square-foot workplace organized into neighborhoods with a variety of spaces to support employees’ unique work styles and changing needs. Focus zones, formal meeting environments and informal collaboration spaces … [More]
Multifamily Development in Downtown Phoenix
JE Dunn Construction and Lincoln Ventures, an Austin-based student housing and national multifamily developer, recently broke ground on 811 N. 3rd Street, a 24-story, 326-unit multifamily development located in the heart of the arts district in Downtown Phoenix. This is Lincoln Ventures’ first multifamily development in Phoenix. The to-be-named project will feature … [More]
New Peoria Self-Storage Facility
Glendale-based land development company Mangat Group has partnered with Aberdeen Management & Development for a locally owned and operated Arizona Self Storage facility on the southwest corner of Loop 101 and Olive Avenue in Peoria. This is Arizona Self Storage’s ninth property in the state and third in the West Valley. Construction began in late October with a year build, … [More]
Industrial Project in Booming Chandler Airport Submarket
Denver-based Comunale Properties and Stevens-Leinweber Construction recently broke ground on Chandler Connection, a 201,000-square-foot, mid-bay Class A industrial project within the booming Chandler Airport industrial submarket in Chandler, Arizona. The project, which is located at 2411 E. Germann Road, between Gilbert and Cooper roads, is Comunale’s first ground-up industrial … [More]
Shared Office Space: New Model for Property Owners
A new risk-free shared office space model offers property owners the ability to achieve desired gross square foot rents in four to five months — with no tenant improvements necessary. It’s a management model that is different from co-working. Prior to COVID, commercial property owners were riding a high-occupancy trend that had been growing since the 2008 recession. Amid … [More]
Tempe’s Hayden Station Transformed to Experiential ‘Arbor’
Phoenix-based developer George Oliver has unveiled its redevelopment plans for the landmark Hayden Station mixed-use property in downtown Tempe, Arizona. Renamed as Arbor and planned with an abundance of foliage, the $41-million experiential office project will include an $18-million renovation that will transform the five-building campus into a one-of-a-kind office and retail … [More]
Trend Alert: Single-Family Living in Multifamily Continues to Increase
As multifamily industry trends continue to evolve, developers must stay in the know to understand what consumers are looking for. Today, the industry is seeing an increase in build-to-rent properties, also known as single-units or horizontal units. This option provides residents the traditional multifamily benefits, but also the privacy residential neighborhoods offer. Experts … [More]
Evergreen Devco Breaks Ground on Multifamily in Tolleson
Evergreen Devco, Inc., a leading retail and multifamily development company, recently broke ground for the development of a 258-unit, multifamily community located at 89th Ave. and McDowell Rd. in Tolleson. The 9.48-acre project, located at 8827 W. McDowell Rd., will add a residential component to the larger Plaza 91 mixed-use development, which currently consists of a … [More]
Facebook’s New Data Center Project Opens Employment Ops with Rosendin
Construction on Facebook’s Mesa Data Center has begun in Mesa’s Elliot Road Tech Corridor. The project aims to serve as a model of energy efficiency and will be supported by 100% renewable energy from new solar energy plants, apply for LEED Gold certification, and receive credits for water restoration efforts. Rosendin, the nation’s largest employee-owned electrical contracting … [More]
Camelot Homes Launches Innovative Luxury Brand
Camelot Homes has launched a new introductory luxury brand: G3 by Camelot Homes. Led by 37-year-old, third-generation homebuilder Trent Hancock, the aptly named brand will focus on homes that offer a first step up to luxury. The first project to be built under the G3 name is Paradigm, a 12-lot gated community coming to North 18th Street and East Winchcomb Drive in North Phoenix … [More]
Phoenix Apartment Construction Leads Nation
According to RENTCafé by Yardi Matrix, apartment construction remains strong this year with more than 330,000 new rental units expected to be delivered nationwide — comparable to the previous four years of construction boom. And, despite challenges brought forth by the pandemic, eight metros are expected to hit five-year highs of new apartments — among them, the Metro Phoenix … [More]
Construction Technology Lowers Concrete’s Carbon Footprint
Sustainability is increasingly a priority for architects, engineers and developers as they urgently seek solutions that reduce embodied carbon in the built environment, which is generated by the manufacturing of building materials and construction. Coreslab Structures, a premier producer of precast/prestressed concrete products, can utilize a carbon dioxide removal … [More]
Developer Enters Phoenix Market with Glendale Industrial Project
Falcon Park 303 Phase I, a speculative industrial product located along the red-hot Loop 303 corridor in Glendale, broke ground last month. This project marks the entry into the Phoenix market of St. Louis, Missouri-based US Capital Development, which has several active projects on the other side of the Mississippi. Falcon Park 303 Phase I sits on 36.75 acres along … [More]
Development Slated on One of Goodyear’s Last Large Industrial Parcels
In a joint venture partnership, LPC Desert West, the Southwest regional office of Lincoln Property Company, and Scottsdale-based Harvard Investments have purchased 585 acres in Metro Phoenix’s West Valley submarket for a major new Class A industrial development called Goodyear AirPark. Situated next to the Phoenix-Goodyear Airport, it is one of the last large … [More]
