Commercial Real Estate & Business News – May 3, 2016

Dodge Data & Analytics reported on March construction starts in the metropolitan statistical area of Phoenix-Mesa-Scottsdale, consisting of Maricopa and Pinal counties. According to the Dodge’s data, construction spending in 2016 on nonresidential properties totaled $158,064,000, a four percent increase from 2015’s $152,534,000...Read more »
Home prices in many metro Phoenix neighborhoods could finally fully recover from the crash this year, or at least get very close. Home prices in a lot of Valley neighborhoods, particularly the most affordable areas and those closer in, are climbing faster so far this year... Read more »
With nearly 4.4 million people, Greater Phoenix is the 13th largest metropolitan area in the US and the region’s population is expected to nearly double in the next two decades, according to city of Phoenix statistics. Located at the center of several municipalities, including Scottsdale. AZ and Glendale, AZ, Phoenix comprises 60% of the metro area population. With the population’s average age falling below 35, Phoenix is a young city with new development as well as more centralized urban redevelopment... Read more »
Phoenix-area home prices are still down about 10 percent from the peak of the housing boom in 2006. But home sales are up 11 percent during the first three months of this year compared with the same period a year ago, according to Street Scout Home Values, an annual analysis of metro Phoenix’s housing market done with The Information Market... Read more »
Investment Property Associates LLC (IPA) and Retirement Community Specialists (RCS) announced construction is now underway on its senior living community, Generations at Ahwatukee. The project, located at the southeast corner of Chandler Boulevard and 50th Street is targeted for completion by mid-summer 2017. The community will include a total of 137 units, comprised of 97 independent/assisted living residences that include a selection of one-bedroom, one-bedroom with den and two-bedroom floor plans. The remaining 40 units consist of studios and one-bedroom models housed within an innovative, secure setting for memory care residents... Read more »

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