Discover the Exciting Developments Shaping Arizona’s Future Arizona’s landscape is transforming with vibrant new communities, entertainment hubs, and tech-forward developments that are setting the stage for a thrilling future. From Buckeye’s bustling Verrado area, packed with shopping, dining, and healthcare expansions, to the affordable, resort-style living coming to Skyline Village in San Tan Valley, there’s something for everyone. In Phoenix, the ambitious Halo Vista project promises to elevate the city into a global tech hub, while Peoria is welcoming the sophisticated Tavern Park entertainment venue and the sustainable Saddleback master-planned community. Whether you're a resident, investor, or just fascinated by Arizona's rapid growth, dive into this month’s update to explore the latest projects shaping your community. These developments could redefine your next move—let’s take a closer look! New Entertainment Hub with Exciting Retail, Dining, and Lifestyle Developments Coming Soon to Verrado in Buckeye, AZ The Verrado community in Buckeye, AZ, is experiencing unprecedented growth, establishing itself as one of the most highly sought-after areas in Arizona. Key projects include the new Mix on Roosevelt, a 32-acre development with a 100,000-square-foot shopping center and a 394-unit apartment complex featuring a Sprouts grocery store, and the expansive 520,000-square-foot Verrado Marketplace, set to open in 2026 with major retailers like Target, Safeway, and Harkins Backlot. Nearby, the Costco-anchored Buckeye Commons and Roosevelt Commons add even more shopping, dining, and entertainment options, creating a vibrant retail corridor along Verrado Way. This surge of development has also brought significant healthcare expansion, with new Banner Health and Abrazo campuses, as well as The Landing—a visionary 2,100-acre mixed-use district south of I-10 that will feature recreation, housing, and educational spaces. These diverse amenities and the area's continued growth have transformed Verrado into a top destination in the West Valley, attracting families, professionals, and retirees looking for a dynamic, pedestrian-friendly community with unmatched convenience and lifestyle options. Skyline Village in San Tan Valley: New Master-Planned Community Brings Affordable, Resort-Style Living to Arizona’s Southeast Valley Aread Inc. has closed several major lot sales with homebuilders for its Skyline Village community in San Tan Valley, south of Phoenix. This 300-acre development, approved for 1,150 single-family homes, has attracted builders like KB Home, Century Communities, and Ashton Woods, who are set to begin construction on affordably priced homes ranging from 1,200 to 2,700 square feet as early as next summer. The area’s limited resale inventory and new nearby employment hubs, such as the LG Energy Solution Plant, make Skyline Village a prime location for growth in the southeast Valley. Skyline Village’s planned amenities include a $7 million package with parks, splash pads, a loop trail, dog parks, playgrounds, and courts for basketball and pickleball, along with over 75 acres of open space. The development aims to offer resort-style living at accessible prices, meeting the high demand for new homes as nearby cities like Gilbert and Queen Creek face limited affordable options. Halo Vista: The $7 Billion Master Plan Transforming Phoenix into a Global Tech Hub Mack Real Estate Group and McCourt Partners have unveiled Halo Vista, a $7 billion, 2,300-acre mixed-use development surrounding the TSMC complex in northern Phoenix. Designed as a "city within a city," Halo Vista will feature 30 million square feet of commercial space, including industrial, retail, hospitality, and research districts, along with up to 9,000 residential units. Anchored by TSMC's historic $65 billion investment—projected to grow to $120 billion—the project aims to create a vibrant ecosystem for semiconductor manufacturing, research, and innovation, generating up to 70,000 jobs. Key hubs include The Forge, focused on manufacturing, and the Sonoran Oasis Research and Technology Park, dedicated to R&D and engineering. This ambitious project builds on Phoenix’s efforts to become a global tech hub, modeled after Taiwan’s Hsinchu Science Park. With its strategic location and robust partnerships, Halo Vista is set to transform the region, attracting businesses, students, and researchers while boosting Arizona’s economy. As Mayor Kate Gallego called it, Halo Vista could be Phoenix’s “legacy project,” reshaping the Valley’s future with unprecedented scale and innovation. Tavern Park: Peoria’s New $13M Entertainment Hotspot Redefining Dining and Nightlife in the West Valley Peoria’s P83 district is set to welcome Tavern Park, a 13,000-square-foot entertainment venue that will elevate the West Valley’s nightlife scene. Opening next summer at 8320 W. Mariners Way, Tavern Park combines a high-end sports bar, a nightclub, a rooftop lounge with panoramic views, and a climate-controlled indoor park, all under one roof. Brought to life by the team behind Phoenix’s Lookout Tavern, this destination promises a dynamic atmosphere for sports fans, casual diners, and nightlife enthusiasts alike. With a massive 125-foot HD LED wall, an upscale cocktail program, and lush indoor-outdoor spaces, guests can enjoy everything from major games to weekend DJ nights. Designed by Brick & West Design and constructed by Caruso Construction, Tavern Park aims to become the go-to spot for locals and visitors, offering unique dining, entertainment, and a dog-friendly double-decker patio. With a $13 million investment, the venue brings sophistication to the P83 district, enhancing Peoria’s entertainment options and creating 150 job opportunities. Saddleback Master-Planned Community Breaks Ground in Peoria: 6,500 Homes, Scenic Trails, and Sustainable Living Austin-based Castle Hill Partners has begun developing Saddleback, a 5,300-acre master-planned community in Peoria, Arizona, set to feature 6,500 homes, 180 multifamily units, and over 60 miles of trails. Leading builders Lennar Corp. and Taylor Morrison Home Corp. will construct the first 572 homes in Saltbrush Village, with future phases offering custom homes on scenic mountain lots. Located six miles from Lake Pleasant and near the $65 billion Taiwan Semiconductor Manufacturing Co. plant in North Phoenix, Saddleback promises a mix of residential options and easy access to major employers and outdoor amenities. The community emphasizes sustainability, replacing planned golf courses with open spaces, public parks, and trails to conserve Arizona’s water resources. Vistancia Boulevard will extend through Saddleback, connecting to Arizona State Route 74. With nearby developments and its strategic location, Saddleback is set to become a premier destination for modern, eco-conscious living in the booming Peoria region. Stay Tuned to the Phoenix Metro’s Rapid Transformation The Phoenix Metro area is booming with new developments in entertainment, business, and residential spaces, bringing fresh opportunities across the region. As this vibrant community continues to grow, there's always something exciting on the horizon. Visit our ‘News and Updates’ page regularly to stay informed on the latest projects and trends shaping your area. Wondering how these changes might impact your real estate journey? Let’s talk! Book a consultation to explore how you can make the most of Phoenix Metro’s dynamic growth to meet your real estate goals.  

Read more

Phoenix Metro on the Move: Major Projects Redefining the Landscape The Greater Phoenix Metro continues to experience rapid growth, with exciting new developments in retail, entertainment, and residential areas. Whether you're a resident, investor, or simply intrigued by the area's expansion, staying updated is essential. In this week’s edition, i dive into the most impactful projects transforming the region. Explore the latest updates and see how these changes might influence your next steps!   Peoria City Council Approves North Gateway Master Plan and $2 Billion Semiconductor Facility   The North Peoria Gateway master plan, recently approved by the Peoria City Council, is set to transform over 1,600 acres along Loop 303 into a dynamic mixed-use community. This development will feature nearly 14,000 residential units alongside a variety of commercial spaces, aimed at fostering economic growth and attracting high-paying jobs to the area. Additionally, the city council has cleared the way for infrastructure improvements to support Amkor Technology Inc.'s proposed $2 billion semiconductor packaging facility, located just north of the Gateway district. With over $15 million invested in water and road upgrades, these initiatives are key components of Peoria’s long-term strategy to capitalize on Arizona's booming tech and industrial sectors, positioning the area for significant growth in housing, employment, and business opportunities. Scottsdale Quarter Unveils Exciting New Retail and Dining Experiences Amid Major Redevelopment   Scottsdale Quarter is undergoing significant redevelopment, with new openings and re-openings enhancing its position as a premier shopping and dining destination. Highlights include the reopening of the popular restaurant Etta, now featuring a wood-fired menu, updated décor, and live DJ performances, and the reopening of Sephora. New retailers include Ariat, Aroma 360, Creations Boutique, Hammer Made, Jenni Kayne, Jeni’s Splendid Ice Creams, Pandora, and Reformation. Upcoming openings include Fashionphile, Lilly Pulitzer, Rails, Solidcore, Sweet Paris Creperie, and Williams Sonoma, with Swarovski set to open in 2025. The redevelopment aims to blend innovation, style, and community, offering a dynamic mix of retail, dining, and entertainment experiences. Carefree Quarter: New 23-Acre Retail Center with Grocery, Dining, and Fitness Coming to Cave Creek Road in 2026   Empire Group of Cos. is developing a new 23-acre retail center called Carefree Quarter at the northeast corner of Cave Creek Road and Carefree Highway, designed to serve communities north of Loop 101. The center will feature over 100,000 square feet of retail space, including daily-needs tenants like grocery stores, soft goods retailers, fitness centers, fast-casual dining, and sit-down restaurants. Several tenant leases are close to being finalized, with announcements expected soon. Construction is set to begin in early 2025, with the center slated for completion by mid-2026. The project, supported by the town of Carefree, will also contribute to the area's growing commercial and community landscape. Lou Malnati’s Pizzeria Brings Iconic Chicago Deep Dish Pizza to Surprise, AZ   Lou Malnati’s Pizzeria, famous for its Chicago-style deep dish pizza, will open a new location in Surprise, Arizona, on October 25, 2024. The grand opening event will feature a ribbon-cutting ceremony with Surprise Mayor Skip Hall, interactive activities, live music, and giveaways, including a chance to win free pizza for a year. Lou Malnati’s, known for its handmade pizzas using high-quality ingredients, will offer a full-service dining experience, including deep dish, thin crust, gluten-free, and crustless pizzas. The new 6,650-square-foot restaurant will feature a private dining room, a dog-friendly patio, and unique design elements celebrating the Surprise community. Additionally, the event will include a donation to Alice Cooper’s Solid Rock Teen Center in Goodyear, with all proceeds from Charity Night benefiting the local nonprofit. Keep Up with Phoenix Metro’s Growth The Greater Phoenix Metro is evolving fast, with exciting new developments in entertainment, business, and residential areas reshaping the landscape. As the region continues to expand, fresh opportunities are emerging everywhere. Stay ahead of the curve by regularly checking our 'News, Updates, and Coming Soon' page for the latest insights on trends and projects influencing your community. Curious about how these changes could benefit your real estate plans? Let’s connect! Schedule a consultation to discuss how you can leverage the ongoing growth in Phoenix Metro to achieve your real estate goals.  

Read more

  Phoenix Metro on the Rise: Key Developments Shaping the Future The Greater Phoenix Metro is a hotbed of growth, with new retail hubs, entertainment spaces, and thriving residential areas continually emerging. Whether you're a local, investor, or just curious about the changes, staying informed is key. In this week’s roundup, we explore the most significant projects driving the region forward. Discover the latest updates and learn how these developments could shape your future decisions! Major Homebuilders Fuel West Valley Expansion with New Massive Master-Planned Communities The West Valley is seeing a surge in real estate development, with several major builders expanding their footprints. Scottsdale-based Shea Homes recently purchased the last 120 acres of the historic Rovey Farms in Glendale, paying $15.57 million for the land. This acquisition expands Shea Homes' Legacy Place master-planned community to 280 acres, where 920 homes will be built. Pre-sales for the first community within Legacy Place are expected to begin in 2025. Shea Homes is also continuing to develop in the West Valley with projects in Peoria, including the Northpointe at Vistancia community, which will eventually include 415 homes.  Other builders are also focusing on the West Valley as land becomes scarcer in the East Valley. PulteGroup is preparing to develop a 6,355-acre master-planned community called NorthPark near the Taiwan Semiconductor Manufacturing Co. plant in north Phoenix.  Update in Buckeye, Howard Hughes Holdings is prepping the land for the massive 37,000-acre Teravalis community, selling lots to multiple builders for more than 8,000 homes. The increasing focus on the West Valley underscores its growing importance as a core area for residential expansion in Phoenix. Chandler’s District Downtown Development: New Plans for Hotels, Retail, and Mixed-Use Space in Key City Expansion The District Downtown, a key development for downtown Chandler, is moving through the city's approval process. Initially approved in 2022, an updated version of the project was recently approved by Chandler’s Planning & Zoning Commission. The project spans nearly 45 acres at the corner of Pecos Road and Arizona Avenue, just north of Loop 202. Featuring 360,000 square feet of office space across four buildings, a five-story hotel with 180 rooms, 795 apartments, and nearly 45,000 square feet of retail space, plus an additional 34,000 square feet for restaurants. The new plans reduce office space to 72,000 square feet in two buildings and commercial space to 45,115 square feet across eight buildings. Additionally, the updated proposal includes two hotels with a total of 196 rooms. The project will be built in phases, starting with infrastructure improvements along Pecos Road and Arizona Avenue. The second phase will involve part of the commercial plans, one hotel, and the multifamily component, while office buildings and auto dealerships will be developed based on market demand. VAI Resort Glendale: Unveiling Arizona's Largest Luxury Destination with New Theater and Conference Center The VAI Resort in Glendale, Arizona, which is under construction, is undergoing several significant changes, including plans for an indoor theater and a conference center. Slated to begin opening in late 2025, this resort is set to become Arizona's largest, featuring four hotel towers, the Mattel Adventure Park, a public beach, and a $50 million amphitheater. The developers of the $1 billion project, VAI Resorts LLC, are expanding its offerings as the city of Glendale updates its development agreement to reflect these new amenities. The additions include a 180,000-square-foot theater venue with 2,000 seats and a new 200,000-square-foot convention center. These facilities will be available for civic and recreation events, with bookings expected in 2026. Glendale has agreed to waive up to $1 million in fees for the construction of each of these new facilities and up to $4 million in additional fees, provided the developer meets specific obligations. One of the major changes in the project is the removal of a 25-year property tax abatement that was initially valued at $107 million. This change follows a lawsuit filed by a local advocacy group, challenging the incentives. Glendale no longer plans to offer these tax abatements for the project, although it expects to gain $32 million in annual tax revenue once the resort is operational. In addition to the resort features, including 1,100 hotel rooms, the Mattel Adventure Park, a large amphitheater, and luxury dining and shopping, there are plans to vote on a $20 minimum wage initiative for hotel and event workers in Glendale in November, which could affect projects like the VAI Resort. Seafood City Supermarket to Open in Chandler Fashion Center Arizona will welcome its first Seafood City Supermarket in 2025, opening at Chandler Fashion Center in the former Sears space. The grocery chain, known for its Filipino specialties and diverse Asian products, will occupy over 65,000 square feet on the mall's upper level. This new location is part of a trend toward unique tenants filling traditional mall spaces, with Round1 Bowling & Arcade leasing the lower level of the former Sears building. Founded in 1989, Seafood City has locations across the U.S. and Canada, and this Chandler store will feature not only a wide selection of Asian groceries but also multiple restaurants and a community room for events. The store's arrival is expected to boost foot traffic at Chandler Fashion Center, which has already seen a 20% increase in visitors due to the opening of a Scheels sporting goods store in 2023. The growth of Asian grocery stores in the Phoenix metro area continues as the region's Asian population expands, especially in the East Valley. Other chains, such as H Mart and 99 Ranch, have also opened locations in the area. With the rise of the semiconductor industry and the influx of Taiwanese workers, there has been a concerted effort to attract more Asian businesses to the Phoenix area. Stay in the Loop The Greater Phoenix Metro is undergoing rapid transformation, with groundbreaking developments across entertainment, business, and residential sectors. As the region continues to grow and innovate, the possibilities for new opportunities are endless. Make sure to check our 'News, Updates, and Coming Soon' page frequently to stay informed about the latest trends and projects shaping your community. Wondering how these exciting changes can impact your real estate strategy? Let’s connect and explore how you can take advantage of the growth in the Greater Phoenix Metro. Schedule a consultation today to discuss aligning your real estate goals with the dynamic opportunities in this thriving market.  

Read more

Goodyear, Arizona, is evolving rapidly, and one of the most exciting developments on the horizon is the Goodyear Square District (GSQ). This mixed-use district is set to transform the area with its combination of restaurants, entertainment venues, health services, and retail shops, offering something for everyone. Whether you’re a local resident, a business owner, or just visiting, GSQ promises to become the go-to destination in Goodyear. What’s Open at Goodyear Square District Goodyear Square District is already home to several popular businesses that have quickly become community favorites. Here’s a closer look at what’s currently open: 1. BJ’s Restaurant & Brewhouse Known for its diverse menu and handcrafted beers, BJ’s Restaurant & Brewhouse offers a family-friendly environment. It’s perfect for enjoying deep-dish pizzas, signature brews, and a variety of American classics. 2. Cheddar’s Scratch Kitchen Cheddar’s Scratch Kitchen is beloved for its comfort food, generous portions, and made-from-scratch meals. Whether you're craving ribs, chicken pot pie, or a refreshing salad, Cheddar’s delivers hearty dishes at affordable prices. 3. Harkins Estrella Falls For entertainment lovers, Harkins Estrella Falls provides a state-of-the-art moviegoing experience. The theater is perfect for catching the latest films in a comfortable, modern setting. 4. The Stillery Bringing a taste of Nashville to Arizona, The Stillery is a bar and restaurant offering Southern-style comfort food and live music. It’s a great spot to enjoy live performances while savoring burgers, hot chicken, and whiskey cocktails. 5. F45 Training For fitness enthusiasts, F45 Training offers high-intensity interval training (HIIT) in a group setting. This gym is ideal for those looking to stay active and challenge themselves with a mix of cardio, strength, and functional training exercises. What’s Coming Soon to Goodyear Square District Goodyear Square District has plenty more to offer with an exciting lineup of businesses set to open soon. Here’s what to look forward to: 1. Bacchus Wine Bar Bacchus Wine Bar will be the perfect spot for wine lovers. Featuring a curated selection of wines in a sophisticated yet welcoming atmosphere, it’s sure to become a favorite destination for locals looking to unwind after a long day. 2. Copper & Sage (Gastropub) Copper & Sage promises to deliver high-quality gastropub fare, combining a relaxed atmosphere with gourmet dishes. Expect fresh, locally sourced ingredients paired with craft beers and specialty cocktails, making it a great option for casual dining with a twist. 3. High Tide Seafood Bar & Grill High Tide will be the go-to spot for seafood lovers. Offering a menu packed with fresh, flavorful seafood dishes—from lobster rolls to grilled octopus—this restaurant is set to elevate the local dining scene. 4. The Yard Milkshake Bar Known for its extravagant, Instagram-worthy creations, The Yard Milkshake Bar will serve indulgent milkshakes with a wide variety of toppings, including cookies, candy, brownies, and more. It’s sure to become a favorite for anyone with a sweet tooth. 5. Shake Shack Shake Shack, famous for its burgers, fries, and milkshakes, will bring its beloved fast-casual dining experience to GSQ. With high-quality ingredients and a loyal following, it’s sure to attract both locals and visitors. 6. Miyu Nails and Spa Miyu Nails and Spa will offer a full range of beauty treatments, from manicures and pedicures to facials. Whether you’re looking for a quick touch-up or a full spa day, this beauty spot will provide a relaxing retreat for self-care enthusiasts. 7. Over Easy Over Easy is a breakfast and brunch destination known for its creative twists on classic dishes. From fluffy pancakes to savory breakfast burritos, Over Easy will be the perfect place to start your day with fresh, locally sourced ingredients. 8. Spitz Mediterranean Street Food Spitz will bring the flavors of the Mediterranean to Goodyear. Offering a menu full of healthy, flavorful street food options like wraps, falafel, and shawarma, it’s a great choice for those looking for fresh, fast, and healthy meals. 9. Banner Health Banner Health, one of Arizona’s largest healthcare providers, will open a new facility in GSQ, offering essential medical services and healthcare options for residents. This addition will make healthcare more accessible to Goodyear’s growing population. Expanding the Dining Experience at GSQ What sets Goodyear Square District apart is the curated diversity of its dining options. Residents and visitors will have the chance to explore various cuisines, satisfying every craving from casual meals to gourmet experiences. The mix of local eateries and renowned chains creates an environment where dining out becomes a community event, bringing families and friends together. Outdoor Dining and Events: With plans for outdoor seating and community spaces, diners can enjoy their meals in the open air, taking in the beautiful Arizona weather. Regular events such as food festivals, live music performances, and outdoor movie nights will make dining at GSQ more than just a meal—it will be an experience. Food for Every Occasion: Whether you’re looking for a quick bite at Shake Shack, a hearty seafood feast at High Tide, or a luxurious evening sipping wine at Bacchus Wine Bar, GSQ will offer it all. The variety of cuisines and dining styles makes it easy to find the perfect spot, whether you’re on a lunch break or planning a night out. Future Development and Expansion Plans The excitement doesn’t stop here. Goodyear Square District is part of a broader vision for the city, with potential future developments that could include more residential and commercial spaces. Residential Developments: There are talks about future residential units within GSQ, offering modern apartments and townhomes that blend urban living with convenience. The close proximity to dining, retail, and health services makes this an attractive option for professionals and families alike. Office Spaces: Commercial office spaces may be developed to attract small and medium-sized businesses, making GSQ a central hub for entrepreneurs and professionals looking for high-quality office environments. Green Spaces and Public Areas: GSQ is expected to continue incorporating green spaces, parks, and walkable areas, ensuring the district is not only convenient but also offers a sense of community. Economic Impact and Investment Potential Goodyear Square District represents a significant investment opportunity for both commercial developers and real estate investors. Its mixed-use design and growth potential make it an appealing option for those looking to invest in the area. Real Estate Opportunities: With increasing property values and the growing demand for residential and commercial spaces, investors may find great potential in buying properties in and around GSQ. Job Creation: The influx of new businesses will also bring about job opportunities for Goodyear residents. From retail staff to corporate positions in future office spaces, GSQ is set to contribute positively to the local job market. Community Engagement and Lifestyle Enhancement The thoughtful design of Goodyear Square District isn’t just about business and dining—it’s also about creating a vibrant community space. With an emphasis on walkability, outdoor activities, and public events, GSQ is set to become a social hub for Goodyear. Seasonal Events and Festivals: The district plans to host community events, such as farmers markets, outdoor concerts, and seasonal festivals. These events will provide entertainment for locals and visitors alike and help create a tight-knit community atmosphere. Public Spaces and Green Areas: Parks, seating areas, and pedestrian-friendly streets will be incorporated throughout GSQ, encouraging people to spend time outdoors, meet with friends, and engage with their surroundings in a meaningful way. How GSQ Aligns with Goodyear’s Growth Strategy Goodyear Square District is perfectly aligned with Goodyear’s broader goals of sustainable growth and economic development. As Goodyear continues to attract new residents and businesses, GSQ will serve as a key driver in supporting the city’s growth. Population Growth: As one of Arizona’s fastest-growing cities, Goodyear is seeing an increase in demand for housing, services, and entertainment. GSQ will help meet these needs, offering everything from shopping and dining to healthcare and fitness options. Infrastructure Improvements: The development of GSQ coincides with infrastructure upgrades throughout the city, including new roads, utilities, and transportation options that will make the district more accessible to all. Why Goodyear Square District is Worth the Hype The rapid development of Goodyear Square District reflects the city’s continued growth and commitment to offering residents and visitors top-tier dining, entertainment, and business services. With businesses like Bacchus Wine Bar and High Tide Seafood Bar & Grill set to open soon, the district promises to be a dynamic place for both leisure and convenience. As GSQ continues to grow, it will become an integral part of Goodyear’s identity, offering a lifestyle destination for residents and visitors alike. Whether you’re enjoying a family dinner, catching a movie, or getting a spa treatment, Goodyear Square District will be your go-to spot for everything you need. Stay tuned for more updates as this exciting development continues to unfold! In conclusion, Goodyear Square District is set to redefine urban living in Goodyear, offering an all-inclusive experience for dining, business, entertainment, and wellness. With an incredible lineup of businesses already open and more coming soon, GSQ is well on its way to becoming the heart of Goodyear's community and a premier destination for locals and visitors alike.  

Read more

Five North at Vistancia, a transformative 320-acre mixed-use development within the 7,100-acre Vistancia master-planned community, is poised to redefine the West Valley’s real estate, retail, and entertainment scene. Located in North Peoria, Arizona, this new community offers a dynamic, walkable environment where residents and visitors alike can live, work, and play. As the fifth and final community within Vistancia, Five North brings the vision of luxury living and first-to-market experiences to life. The Vision Behind Five North Five North will serve as the crown jewel of Vistancia’s development, blending luxury living with world-class amenities. The community promises best in class living, dining, shopping, and entertainment options, reflecting Vistancia’s high standards for excellence. From high-density residential units to a main street retail corridor, this development is designed to offer residents and visitors a seamless connection between all the things they need for a vibrant, fulfilling lifestyle. A Retail and Dining Destination The main street restaurant and retail corridor at Five North will feature over 1 million square feet of retail space, showcasing boutique shops, entertainment venues, and first-to-market dining experiences. From casual cafés to upscale dining, this development will provide a diverse selection of options to suit every taste. The retail spaces at Five North will offer a curated mix of stores, bringing the latest trends in fashion, home décor, and specialty goods to the West Valley. With boutique shopping options and exclusive dining experiences, residents and visitors will no longer need to travel far for high-quality retail. Unique Architectural and Sustainable Design Five North at Vistancia will feature sustainable architectural designs, blending seamlessly with the surrounding desert landscape. The development incorporates energy-efficient technologies, including solar panel integration and eco-friendly materials. Homes and commercial spaces will embrace desert-inspired aesthetics while using water-saving landscaping that features native plants, reducing water consumption and preserving the environment. The luxury homes will offer open-concept layouts, state-of-the-art kitchens, and outdoor living spaces, allowing residents to enjoy the natural beauty of the Arizona landscape from the comfort of their homes. A New Standard for Residential Living Five North will include 1,500 luxury mid- to high-density residential units, designed for energy efficiency and modern living. These homes will cater to a wide variety of lifestyles, from professionals to families, featuring sustainable building practices to reduce their environmental impact. Each home will include advanced energy-saving technologies, ensuring that residents live comfortably while minimizing their carbon footprint. Whether you're looking for a modern apartment or a high-end townhome, the housing options at Five North will provide an exceptional living experience in one of Peoria’s most desirable new communities. Education: American Leadership Academy Opening in 2025 In addition to its residential and commercial offerings, Five North will also be home to the American Leadership Academy (ALA), a K-12 public charter school set to open in Fall 2025. This 2,400-student campus will offer a full range of extracurricular activities, including performing arts and athletics, with lighted sports fields available through a joint-use agreement with the City of Peoria. The addition of ALA will provide families with top-tier educational opportunities right in the heart of the community, ensuring that residents have access to quality education within walking distance of their homes. Community Amenities and the Discovery Trail The Discovery Trail, one of Vistancia’s beloved features, will be extended through Five North, offering scenic, pedestrian-friendly paths that connect residential areas to retail and dining hubs. Residents can enjoy walking, biking, and jogging along the trail, while taking in the beauty of desert landscapes and green spaces scattered throughout the development. In addition to the trail, parks, playgrounds, and gathering spaces will offer places for relaxation, recreation, and social interaction, fostering a strong sense of community for residents of Five North. Employment and Economic Growth Five North is not just a place to live and shop but also an essential hub for economic growth in Peoria. The community’s employment core will feature office spaces, healthcare facilities, and education centers, attracting professionals and businesses. Its close proximity to major employers such as the Taiwan Semiconductor Manufacturing Co. (TSMC), just 10 minutes away, positions Five North as a key player in the region’s economic development. The commercial and employment opportunities within Five North will provide the local workforce with a diverse range of job options, supporting the city’s goal of becoming a leading employment center in the West Valley. Peoria Mayor Jason Beck noted that the development will not only bring new job opportunities but also generate local tax revenue, which will contribute to the expansion of public services like fire and police protection. A Strategic Location Located along Loop 303 and Lone Mountain Parkway, Five North’s prime location provides residents with easy access to major employment centers and regional attractions. Within a short drive from Lake Pleasant Regional Park and the Peoria Sports Complex, residents will enjoy the perfect blend of urban convenience and outdoor adventure. Cultural and Social Activities Five North will foster a lively social scene, with plans for seasonal festivals, farmers’ markets, and outdoor concerts to create a sense of community. These cultural activities will be centered around the main street retail corridor, making Five North a vibrant hub for both residents and visitors. Five North’s Impact on the West Valley As the West Valley continues to grow, Sintra Hoffman, president and CEO of WESTMARC, predicts that Five North will shorten the drive to high-quality retail, dining, and entertainment for many residents. By providing local businesses with prime spaces to thrive and creating a vibrant cultural scene, Five North is set to become the economic and lifestyle hub of Peoria, Arizona. Conclusion: Learn More and Schedule a Call As the final piece of the Vistancia master-planned community, Five North represents the culmination of two decades of thoughtful development in Peoria. With its luxury homes, first-to-market dining and retail, and employment and education opportunities, Five North is set to transform Peoria into a premier destination for living, working, and playing. Interested in learning more about how Five North can fit into your lifestyle or business goals? Visit our website or schedule a call with me today to discuss available opportunities. I am here to help you explore all that this exciting new community has to offer.  

Read more

Every month, I take the time to personally craft this update to bring you real, actionable insights. This is not just another generic newsletter filled with automation or outsourced content—it’s my way of keeping you informed and empowered with knowledge you can use. Let’s dive into what’s happening in Arizona's housing market for September 2024. Housing Market Trends in Arizona – September 2024 We’re starting to see subtle yet significant signs of improvement in Arizona's housing market, primarily driven by lower mortgage rates. Listings under contract are up 2.5% from last year, a crucial change, considering the last year-over-year increase happened in January. However, active listings are rising too, meaning many new buyers are also sellers, and the move-up market is where most activity occurs. While this is great news for those upgrading, the overall Arizona market index is still trending downward. So, while we’re seeing some progress, the housing market remains far from a full recovery. How Falling Mortgage Rates Are Impacting Arizona's Market When the Federal Reserve cut its benchmark rate by 50 basis points, many anticipated mortgage rates would follow suit. But instead, mortgage rates edged up slightly, mainly because they are influenced by the 10-year Treasury bond yield, not the Fed's rate. This highlights how unpredictable mortgage rates can be. People often try to time the market, hoping for lower rates or political changes to impact their decisions. However, the reality is that the housing market is less affected by politics than many think. For example, while the rate cut made Arizona real estate more affordable for foreign buyers by weakening the dollar, this shift had more to do with economic fundamentals. Buyers Are Gaining Leverage in Arizona As buyers gain more leverage in negotiations—especially in lower and middle price ranges—the real estate market is slowly shifting. Though still moderate, buyers are starting to have the upper hand, especially in cities like Fountain Hills, which posted a 10% market index increase, and Paradise Valley, which surged ahead with an impressive 25% gain. Other cities showing slight improvements include: Buckeye Scottsdale Cave Creek Surprise Glendale However, cities like Phoenix and Mesa have seen market index declines, along with Avondale, Chandler, and Peoria. Struggles in the Outer Edges of the Arizona Market The outer edges of the Arizona market are seeing the most significant struggles. Cities like Coolidge, Arizona City, Tonopah, Eloy, and Florence are among the weakest performers. On the flip side, 55+ communities are seeing mixed results, with Sun City and Sun City West showing modest gains of 1.7%, while Sun Lakes held steady with a 4.6% rise. Opportunities for Savvy Home Buyers in Arizona Did you know that recessions often signal a housing market rebound? After more than two years of sluggish sales, both buyers and sellers are beginning to re-enter the market. Historically, home prices have remained stable, and mortgage rates tend to decline during recessions. According to Arizona’s employment report, private sector earnings rose by 7.3% year-over-year, outpacing both inflation and home price growth. This presents an excellent opportunity for buyers as higher incomes, lower rates, and stable home prices create a favorable environment. Buyers should take advantage of increased listings in cities like Phoenix, Scottsdale, and Peoria. With less competition and more homes available, the next few months could provide the perfect window to buy. Why Now is the Time to List: Sellers Seize Opportunities September and October are the last big months for home sales before the holiday season kicks in. Homes currently stay on the market for around 33 days before securing an offer. So, if you’re planning to sell, now is the time to list and ensure your home stands out from the competition. For homes under $2 million, lower mortgage rates are expected to drive demand. However, the luxury real estate market—especially homes priced over $2M—may see slower sales as 55% of these transactions are cash deals, unaffected by mortgage rates. Nevertheless, September luxury listings are performing better than in previous years. Debunking the Myth of Political Impact on Arizona Real Estate As we approach the November elections, it’s natural for people to wonder if political outcomes will affect the housing market. However, the truth is that presidential elections have little impact on home sales. Looking at historical data, we can see that home sales in election years tend to follow typical market patterns: 2004 and 2020 saw stronger sales than non-election years. 2012 and 2016 aligned with normal trends. 2000 and 2008 had weaker sales, though both coincided with recessions. The reality is that home sales are driven more by life events—like family changes, job relocations, and estate matters—than by political decisions. FAQ: Frequently Asked Questions about the Arizona Housing Market Q: How is the Arizona housing market performing in September 2024?A: The Arizona housing market is showing signs of improvement, with a 2.5% increase in listings under contract compared to last year. However, active listings are also rising, making this a buyer-friendly market. Q: What are the best cities to buy a home in Arizona right now?A: Cities like Phoenix, Mesa, Avondale, Chandler, and Peoria are seeing market declines, making them ideal for buyers looking for better negotiating power and opportunities. While Fountain Hills and Paradise Valley are seeing positive market gains, which are more favorable for sellers, buyers may find good options in cities with downward trends in the market index. Final Thoughts: Stay Focused on the Bigger Picture As always, stay focused on the long-term picture. Real estate is a long-term game, and trying to time the market based on fleeting trends or political events often leads to missed opportunities. Focus on sound strategies and the fundamentals that drive long-term success in real estate. If you’re looking to buy or sell in Arizona, don’t hesitate to reach out. The market may fluctuate, but a solid plan is always key to building and preserving wealth through real estate.  

Read more

Shaping Tomorrow: The Latest in Greater Phoenix Metro Development The Greater Phoenix Metro is buzzing with expansion, from exciting retail centers and cutting-edge entertainment venues to vibrant new residential communities. Whether you're a resident, investor, or simply curious about what's ahead, staying on top of these changes is crucial. In this week's update, I dive into the most impactful projects shaping the region’s future. Discover what’s happening and how it might influence your next move!   The Nox: A New Entertainment Venue Set to Transform Southeast Mesa’s Nightlife A new entertainment venue, The Nox, is set to bring live music and events to southeast Mesa, an area with limited nightlife options. Developed by the Bongiorno family, founders of the Potato Barn furniture chain, The Nox will be located near Phoenix-Mesa Gateway Airport. Streamline Cos., a Mesa-based company, will oversee its development, with construction starting in mid-2025 and expected completion by 2027. The 60,000-square-foot venue will accommodate up to 2,000 concert-goers and host a range of events, including corporate gatherings, weddings, and intimate concerts. Designed with a Chicago-inspired brick and iron theme, The Nox will also feature video and audio recording studios. Streamline’s CEO, David Hrizak, highlighted The Nox’s multi-purpose design and its appeal to both local audiences and visitors, leveraging its proximity to the airport and nearby hotels. Scottsdale Lands $400M ASM Semiconductor HQ: 1,200 New Jobs and Cutting-Edge Innovation Advanced Semiconductor Materials (ASM) is moving ahead with its new North American headquarters in north Scottsdale after the City Council approved a $6.35 million reimbursement for public infrastructure. To qualify, ASM must build a 400,000-square-foot facility, create 500 jobs, and reach a $55 million payroll within six years. ASM plans to invest over $400 million in the project, which includes sustainable water commitments. The new facility will feature cutting-edge labs and employee amenities, adding over 1,200 jobs to the area. This expansion strengthens Scottsdale’s presence in Arizona’s booming semiconductor industry. Thirsty Lion Roars Into Glendale: Unveiling The States Largest Location at Westgate Entertainment District Thirsty Lion, owned by Scottsdale's Concept Entertainment Group, is preparing to open its largest Arizona restaurant at Glendale's Westgate Entertainment District in early October. The two-story location, spanning over 14,000 square feet including patio space, is situated between Desert Diamond Arena and Renaissance Phoenix Glendale Hotel & Spa. This Westgate location is significantly larger than Thirsty Lion's usual 6,000-square-foot prototype. The new restaurant will attract large crowds due to Westgate's growing popularity and recent hotel renovations. The venue includes a rooftop patio, private event space, and a dedicated parking area, catering to both game days and private buyouts. Future expansion in the West Valley has been hinted as well, with possible locations in Peoria, driven by local economic growth and increased demand for dining options. Arizona's Bright Future: Booming Jobs, Growing Investments, and a Thriving Housing Market Arizona's economic outlook remains bright despite concerns about a potential recession and a slight slowdown in job and population growth. The state has shown resilience, recovering from the Covid-19 pandemic faster than other regions. Major investments and job creation continue to fuel Arizona's economy, with job growth projected at 2.1% in 2025 and 1.9% in 2026, maintaining a competitive edge over national averages. Over the past decade, Arizona has added around 50,000 manufacturing jobs, diversifying its economy to withstand future downturns. State leaders are proactively addressing workforce challenges by implementing training programs in key industries such as semiconductors and clean energy, while also focusing on attracting top talent through population growth. Arizona's housing market is thriving as well, with Phoenix ranking among the top metros for single-family home permits. Lower mortgage rates and ongoing construction are helping meet the housing demand created by the influx of new residents. All this ensures sustainable economic growth for Arizona in the years to come.   Stay Updated on the Latest The Greater Phoenix Metro is evolving at an incredible pace, with new developments reshaping the landscape. From exciting new entertainment venues and major corporate headquarters to a booming economy, the Greater Phoenix Metro is thriving with growth, opportunity, and innovation across every sector. Visit our 'News, Updates, and Coming Soon' page regularly to stay up to date with the latest projects and trends in your community. Curious how these developments could benefit your real estate plans? Let’s connect and explore how to leverage these changes for your next big move. Schedule a meeting below to discuss how we can align your real estate goals with the exciting opportunities ahead.  

Read more

Greater Phoenix Metro: Where New Developments Are Redefining the Future The Greater Phoenix Metro is alive with growth, featuring new retail hotspots, innovative entertainment spaces, and dynamic residential neighborhoods. Whether you’re living here, investing, or just interested in what’s next, keeping up with these changes is essential. In this week’s update, I spotlight the key developments that are transforming the Phoenix Metro. Explore the latest news and see how it could impact you! Grand Plans Unveiled for Scottsdale’s Ultimate Sports Hub Plans for the highly anticipated Pure Pickleball & Padel venue in the Scottsdale area have expanded significantly, transforming into a grandiose project. Originally envisioned as a 108,000-square-foot facility, the plans now call for a sprawling 186,000-square-foot complex on 11.44 acres near the Riverwalk development by CaliberCos Inc. This membership-based venue, located on Salt River Pima-Maricopa Indian Community land, will feature 48 indoor pickleball courts, two padel courts, and an additional 12 temporary outdoor courts, including a 5,000-person championship court. Inside, the facility will include a pro shop, full-service restaurant and bar, locker rooms, exercise and recovery rooms, and a championship court with a 1,200-spectator capacity. The second floor will offer childcare, a special event court, box seats, office space, and a broadcast booth, while the rooftop will boast a bar and lounge. Set to break ground next year and open by 2026, the venue will also serve as the home base for Arizona's Major League Pickleball team, AZ Drive, and aims to host prestigious tournaments, including the USA Pickleball National Championships. This ambitious project is part of a broader mixed-use development plan for the Riverwalk area, which includes entertainment venues, hotels, restaurants, and more. The estimated $60 million project is being financed through a mix of equity and debt, with Caliber contributing 50% equity and raising the remainder through its Opportunity Zone Fund and other investment vehicles. The venue is positioned to become a multi-generational hub for pickleball enthusiasts and a major attraction in the Valley. Hyperion Technologies Ignites $6.6 Billion Semiconductor Boom in Peoria with Cutting-Edge Manufacturing Plant Hyperion Technologies Inc., a new Phoenix-based company, plans to establish a 600,000-square-foot semiconductor manufacturing plant in Peoria, Arizona. The facility, focused on producing high-density interconnect substrates for semiconductor chips, is expected to create up to 1,500 jobs and generate a $6.6 billion economic impact over a decade. The project, still in the planning stages, aims to bolster the U.S. semiconductor supply chain by addressing the critical need for advanced IC-substrates. If built, it will join other major semiconductor expansions in the Phoenix area, including facilities by Amkor Technology and Taiwan Semiconductor Manufacturing Co. Hyperion's plant is projected to begin construction in late 2025, with completion anticipated in 2026, although the exact site has yet to be confirmed. The company is working closely with investors, partners, and government representatives to finalize its plans. Gilbert's Next Mixed-Use Hotspot on the Horizon A new site in Gilbert, Arizona, is poised for significant development with the proposed Modera Gabriella Pointe project, led by Mill Creek Residential. The plan, presented to the Gilbert Planning Commission on September 4, envisions a mixed-use development at the northeast corner of Higley Road and Elona Drive. The project would feature new apartments, restaurants, and retail spaces, with the residential component potentially including five main buildings, two carriage units, and surface parking. The proposal also includes a fitness center, coffee shop, and leasing office within the complex. The development is part of the larger 152-acre Gabriella Pointe Commerce Center, a mixed-use area that has been in the planning stages since 2018. The project is still under review, with specifics such as the total commercial space, number of apartments, and building heights yet to be finalized. Modera Gabriella Pointe is strategically located near other major developments, including the Epicenter at Agritopia and SanTan Village, positioning it within an emerging retail and restaurant corridor in Gilbert. West Valley's New Dining Destination: Peoria Welcomes Trio of Premier Restaurants at The Park at 83 Peoria residents are eagerly anticipating the arrival of three prominent restaurant brands making their West Valley debut as part of The Park at 83 retail development. This $20 million project, centered around a 2-acre park and community gathering space adjacent to the Peoria Sports Complex, will feature the popular wine bar Postino WineCafe, along with two eateries under the Fox Restaurant Concepts umbrella: North Italia, a modern Italian restaurant, and Blanco Cocina + Cantina, a Mexican dining spot. Each restaurant will boast expansive outdoor patios, adding vibrant energy to the park and contributing to a growing trend of experience-focused dining in the Valley. Developed by Common Bond Development Group, the project reflects a larger effort to bring upscale retail concepts to the West Valley, reducing drive times for residents while enhancing the area's dining scene. The first two restaurants, North Italia and Blanco Cocina, are set to open in October, followed by Postino in January. The park, designed by renowned landscape architect Jeff Berghoff, will be a focal point of the development, offering a lush, inviting space for year-round events.   Stay In the Know As the Greater Phoenix Metro continues to expand and transform, these developments are just the start of what lies ahead. From major retail giants and innovative dining experiences to cutting-edge sports hubs and thriving mixed-use developments, the Greater Phoenix Metro is a prime destination for both lifestyle and investment opportunities. Keep informed by visiting our 'News, Updates, and Coming Soon' page each week, and stay connected to the latest developments in your community. Wondering how these changes can enhance your real estate strategy? Let’s connect and turn these possibilities into your next success. Schedule a time with me below to explore these exciting opportunities and align them with your real estate goals.  

Read more

The Greater Phoenix Metro: Where Exciting Developments Are Shaping the Future The Greater Phoenix Metro area is buzzing with new developments, from exciting retail expansions to cutting-edge entertainment venues and vibrant residential communities. Whether you're a resident, investor, or simply curious about what’s on the horizon, staying informed about these projects is crucial. In this weekly update, I highlight the most significant developments shaping the future of the Phoenix Metro. Dive in to discover the latest news and what it means for you! Tract Acquires 2,100 Acres in Buckeye for $20 Billion Data Center, Set to Become One of the Largest in U.S. Buckle up, because Tract, a Denver-based company, is making waves in metro Phoenix by acquiring nearly 2,100 acres in Buckeye for a massive $20 billion master-planned data center campus. This site, bought for over $136 million in cash from Arizona Land Consulting, will soon be one of the largest data centers in the U.S. Picture this: 40 facilities spread across 20 million square feet with a whopping capacity of 1.8 gigawatts of power. This development is not just big—it’s transformative. It’s expected to create 500 full-time and 2,000 construction jobs, propelling Phoenix as a top market for data centers. The land, originally planned for residential development, was re-designated for industrial use due to its strategic location near Buckeye Municipal Airport and State Route 85, positioning it as a major economic growth corridor. With Phoenix's data center market recently surpassing Silicon Valley in new supply and ranking fourth in the nation for total inventory, this project is set to attract major players like Microsoft and Facebook, driving a surge in local economic activity and offering significant investment opportunities. GSQ in Goodyear Set to Become a Culinary Hotspot with New Openings: The Stillery, Spitz, and More Join the Lineup GSQ in downtown Goodyear is rapidly transforming into a culinary and entertainment hub. This district is on the rise with several exciting new establishments set to open their doors. Among the highlights: The Stillery: Nashville’s iconic venue is bringing live country music, classic American comfort food, and signature mason jar cocktails to Goodyear on September 23. Get ready for a lively atmosphere perfect for unwinding with great music. Copper & Sage: Launching on October 1, Copper & Sage is poised to become a standout dining destination in GSQ, offering a refined yet approachable menu that’s perfect for a night out or a special occasion. Spitz Mediterranean Street Food: Expected to open later in 2024, this spot will serve up vibrant dishes like wraps, gyros, and flatbread pizzas alongside craft beer and cocktails. Ideal for a casual, yet flavorful dining experience. Dave's Hot Chicken: Known for its spicy chicken tenders and sliders, this West Valley debut in 2025 will cater to those who love their food with a kick. These new additions, along with other upcoming spots like Shake Shack and High Tide Seafood Bar & Grill, are turning GSQ into a go-to destination for both locals and visitors. For investors, this area is becoming increasingly attractive as more high-quality dining options draw crowds, boosting the local economy. Scottsdale's The Luxe at Desert Ridge Unveils Exclusive 4,000-Square-Foot Condos Starting at $2 Million The Luxe at Desert Ridge is raising the bar for luxury living in Scottsdale. The Statesman Group is set to begin construction on the next phase, introducing 4,000-square-foot condominiums priced just under $2 million. Since breaking ground in May 2019, four out of the six planned buildings have been completed, but the best is yet to come. The new phase includes 40 units, with six D'Luxe condos offering expansive living spaces—up to 3,200 square feet inside and 900 square feet outside. These are designed for those downsizing from larger homes but still craving that luxury feel, featuring three bedrooms, a den, 3.5 bathrooms, and customizable dual closets. With premium amenities like Olympic-sized pools and private parking bays, this development is perfect for buyers seeking high-end, low-maintenance living. The Luxe’s strategic location near the JW Marriott Phoenix Desert Ridge Resort & Spa and Wildfire Golf Club adds even more allure. As Scottsdale continues to thrive, these condos represent a prime investment opportunity in one of the Valley’s most desirable areas. Arizona Pickleball League Shines in New Amazon Prime Docuseries, Highlighting the Sport's Growing Popularity Pickleball is more than just a game in Arizona—it’s a phenomenon. The Arizona Pickleball League is capturing national attention with the new "Breaking Pickleball" docuseries on Amazon Prime Video. This six-episode series showcases the intense competition and community spirit among five Valley-based teams, including the Scottsdale Scorchers and Gilbert Gladiators, as they battle for the Orchard Championship Cup. Pickleball’s rising popularity is undeniable, with USA Pickleball reporting a 15% membership increase in 2023 alone. For the Sullivans, who founded the league in 2023, this documentary is a testament to their vision and the sport’s explosive growth. For viewers, it’s a chance to see why pickleball is quickly becoming a favorite pastime across the country. Pepper Lunch Debuts First U.S. Franchise at ASU with Expansion Plans Across Phoenix Here’s something for food lovers: Pepper Lunch, a Japanese fast-casual chain with over 500 locations worldwide, is opening its first U.S. franchise at Arizona State University (ASU) in Tempe. Located in the University Gateway Building, this spot will bring teppanyaki-style dishes like curry rice, teriyaki, and pasta to the Phoenix metro. This is just the beginning. Bid Investment Group, the franchisee led by Jake Ireland, has ambitious plans to open 10 more stores across metro Phoenix in the next five years. As these locations pop up, they’re likely to attract food enthusiasts from all over, making them prime hotspots for future real estate and investment opportunities. Novva Data Centers to Invest $3 Billion in Sustainable 300MW Campus in Mesa, Arizona Mesa is about to get greener—and more powerful. Novva Data Centers has announced a $3 billion investment to build a 300MW data center campus on 160 acres in southeast Mesa. This project, slated to begin its first phase in late 2026, promises cutting-edge sustainability features. With a water-free air-cooling system, biofuel-powered backup generators, and rainwater capture systems, Novva’s Mesa campus is designed to conserve up to 650 million gallons of water annually. These innovations make it a model of energy efficiency, which is great news for Mesa’s environment and economy alike. As the data center industry continues to boom, Mesa’s position as a tech hub is solidifying, presenting exciting opportunities for investors and residents. Blandford Homes Launches Upper Canyon in Ahwatukee: Last Major Development to Feature 1,050 Homes and 479 Rentals Ahwatukee is getting its last major development, and it’s a big one. Blandford Homes is launching Upper Canyon, a master-planned community that will feature 1,050 single-family homes and 479 rental units. This project has been in the works for decades, with Blandford finally securing the land in 2021 after a competitive auction. Upper Canyon is a major win for Ahwatukee, bringing a mix of high-end homes and rental options to this sought-after area. With prices ranging from the high $600,000s to over $1 million, these homes are designed to attract discerning buyers. Blandford’s strategic partnerships with PulteGroup and D.R. Horton ensure that this development will cater to a wide range of residents, from families to retirees. As Ahwatukee’s final large-scale development, Upper Canyon is a landmark project that will shape the area’s future for years to come. For those looking to invest in one of Phoenix’s most established communities, this is an opportunity not to be missed.   Stay Ahead of the Curve As the Greater Phoenix Metro continues to grow and evolve, these developments are just the beginning of what’s to come. From retail giants to innovative entertainment and thriving new communities, the region is a hotspot for both lifestyle and investment opportunities. To stay ahead of the curve, visit our 'News, Updates, and Coming Soon' page weekly, and don’t miss out on the latest happenings in your neighborhood. Curious how these developments can elevate your real estate strategy? Let’s chat and turn these opportunities into your next success story! Book a time with me below to dive deeper into these exciting opportunities and tailor them to your real estate goals.  

Read more

Rebound in Single-Family Building Permits in Maricopa and Pinal Counties In 2024, Maricopa and Pinal counties have witnessed a significant rebound in single-family building permits. So far, 18,498 permits have been issued, marking a 40% increase compared to the same period last year. Although this growth is promising, it still falls short of the peak levels seen in 2021 and 2022, where 21,796 and 19,748 permits were issued, respectively. For more details on how building permits have fluctuated over the past years, check out our previous market update. New Home Market vs. Resale Market: What You Need to Know One of the most intriguing trends this year is the performance gap between the new home market and the resale market. As of June 2024, year-to-date resale closings have reached 45,937, reflecting a 4% decline compared to the same period last year. This divergence highlights the unique dynamics at play, with the new home market showing resilience despite a generally weaker resale market. If you're interested in the latest trends in the resale market, visit our resale market trends page. Homebuilders' Optimism and Stock Market Trends Homebuilders are increasingly optimistic about future market conditions, spurred by the Federal Reserve's stance on potential interest rate reductions. This positive outlook has been mirrored in the stock market, with several publicly traded homebuilders hitting record-high prices recently. This trend underscores the confidence within the industry, even as the broader market experiences challenges. For more information on how interest rates are impacting the market, let's schedule a 1 on 1 to discuss. Surge in Building Permits Across Arizona Maricopa County has seen a 39% rise in building permits, while Pinal County has experienced a 43% increase. Across Arizona's other counties, permits have risen by nearly 38%. San Tan Valley continues to face challenges with incorporation, resulting in many new homes being developed under county jurisdiction. However, there is growing momentum for incorporation, with a vote planned later this year. Florence, another rapidly growing area, has now surpassed Gilbert in permit issuance and is closing in on Scottsdale’s numbers. This shift highlights the changing dynamics in Arizona’s housing market, with new areas emerging as key development hubs. Positive Indicators for Sellers in August 2024 The market is starting to show more positive signs from a seller's perspective. As of August 2024, nine cities have seen an increase in their Market Index, up from eight cities last week. Conversely, eight cities are experiencing a decline, indicating a mixed but improving market landscape for sellers. Notable gains have been recorded in Cave Creek, Paradise Valley, Buckeye, and Fountain Hills. Cities like Scottsdale, Gilbert, Maricopa, Goodyear, and Peoria have also posted increases this past month. However, significant declines have been observed in the Southeast Valley, particularly in Tempe, Chandler, and Mesa, as well as in Avondale. Currently, nine out of the 17 cities analyzed are in a seller’s market, with a market index above 110. Three cities are balanced, and the remaining five are classified as buyer’s markets. For a more detailed analysis of the market conditions, check out our monthly market index. Impact of Interest Rate Changes on Arizona’s Real Estate Market On August 5th, the housing market experienced a sudden shift, with mortgage rates effectively going on sale. Average mortgage rates dropped sharply to 6.3% before stabilizing at 6.5%, a significant improvement from April’s 7.5%. This decrease has led to a 10% to 11% reduction in principal and interest payments for buyers across all loan amounts. For instance, loans between $300K and $400K have seen monthly payment reductions of $200 to $270, while loans between $450K and $550K have experienced savings of $300 to $370 per month. This decline in rates sparked immediate market reactions. Refinance applications jumped 16% week-over-week, as many homeowners with rates between 7% and 8% from the past year reconsidered their options. Purchase applications also saw a modest rise of 1%, reflecting the typical buyer approach of waiting to see if rates will drop further. For more on how to navigate the current mortgage landscape and to run projection based on your specific situation, please contact me. Sellers Offering More Concessions In August, a record 55% of sellers offered concessions, such as covering buyers' closing costs, with half contributing $9,800 or more. Despite lower rates, tools like the 2/1 buy-down remain popular, providing a seller-funded temporary rate reduction that covers 10%-20% of the buyer’s payments for the first two years. To illustrate the impact: A rate drop from 7.5% in April to 6.5% in August on a $400,000 loan lowers the monthly principal and interest payment from $2,797 to $2,528, saving buyers $269 per month. If paired with a 2/1 buy-down, the first-year rate could drop to 4.5%, bringing the monthly payment down to $2,027—a total savings of $770 per month. Explore our sellers’ guide for more strategies on how to maximize your home sale in the current market. Strategies for Sellers in the Current Market As mortgage rates continue to improve gradually, sellers need to remain patient when listing their homes. Unlike the stock market, where reactions to Federal Reserve announcements are immediate, homebuyers move at a slower pace—they still need to apply, submit paperwork, and plan their moves. Currently, half of the sellers accepting contracts this month were on the market for 37 days or more. Greater Phoenix remains a balanced market, though buyers have an advantage in several cities. Prices have been mostly stagnant, with only a 1.9% increase compared to last year. While it may be tempting to push for the highest price, this approach can lead to extended market time and more price reductions, which are up 67% from last year. Setting realistic expectations is key to a positive selling experience. In a balanced market, sellers can't anticipate the high returns seen in a seller’s market. Listings demand careful strategy and effort, even when the property is in great condition. As the real estate industry faces increased scrutiny and changes, the expertise of skilled professionals is more crucial than ever. In Summary: Opportunities Amid Market Shifts Sellers have enjoyed a strong market for quite some time, so today’s balanced conditions might feel unfamiliar or even unsettling. While some areas like Buckeye, Maricopa, Queen Creek, Surprise, and Goodyear are showing signs of a buyer's market, we’re still not in a buyer's market overall. The recent dip in mortgage interest rates earlier this month has already brought some improvement. Looking ahead, I expect price recovery between now and September, with current pending listings showing 99.2% normal transactions, 0.2% REOs, and 0.7% pre-foreclosures and short sales. Foreclosure activity remains low, indicating that the recent softness in sales prices isn’t being driven by distressed properties. Although the past three months have seen weaker-than-usual sales prices following a strong April, I believe this period of decline has likely ended, and prices are poised to rebound. If recovery doesn’t occur within the next month, I anticipate a turnaround by mid-October. The high-end market has been particularly quiet during the hottest months, but its resurgence will likely boost overall sales price averages in the coming months. While market shifts can be challenging, they also present opportunities. By staying informed and adaptable, we can navigate these changes successfully and make the most of the current landscape. The market remains full of potential, and positive trends are just around the corner. FAQ: August 2024 Real Estate Market Q: What are the current mortgage rates in Arizona?A: As of August 2024, average mortgage rates have dropped to 6.5%, a significant improvement from April's 7.5%. This has led to a reduction in monthly payments for buyers across all loan amounts. Q: Is it a good time to buy a home in Maricopa or Pinal County?A: With recent drops in mortgage rates and ongoing new home developments, now may be a favorable time to buy, especially in areas like Florence and San Tan Valley, which are seeing significant growth. Q: What should sellers keep in mind in the current market?A: Sellers should set realistic expectations and be patient, as the market is currently balanced. Offering concessions and pricing strategically can help achieve a successful sale. Q: How are new home building permits trending in 2024?A: Building permits in Maricopa and Pinal counties have increased by 40% compared to last year, signaling a rebound in new home construction. If you have any questions or would like to discuss how these market trends could impact your buying or selling decisions, I'd love to chat. Feel free to schedule a time with me using the link below.  

Read more

The Greater Phoenix Metro area is buzzing with new developments, from exciting retail expansions to cutting-edge entertainment venues and vibrant residential communities. Whether you're a resident, investor, or simply curious about what's on the horizon, staying informed about these projects is crucial. In this weekly update, we highlight the most significant developments shaping the future of the Phoenix Metro. Dive in to discover the latest news and what it means for you!   Prasada Shopping Complex in Surprise, AZ Expands with New Retailers: Nordstrom Rack, Old Navy, Target & More More new shops are coming to the Prasada shopping complex in Surprise, AZ, solidifying its position as a premier retail destination in the West Valley. Among the new additions is Nordstrom Rack, marking its first location in the far West Valley with a 26,000-square-foot store. Other key retailers include Old Navy, DSW, and Sierra Trading Post, each contributing to the growing variety of shopping options in the area. The Prasada complex will also feature a 150,000-square-foot Target as its anchor, with popular dining options like Portillo's and Torchys Tacos, creating a comprehensive 350,000-square-foot retail space at buildout. The Prasada shopping center, alongside the neighboring Village at Prasada, represents a significant investment in the region, encompassing over 1 million square feet of retail space with around 85 tenants. This development is projected to generate approximately 2,500 jobs and over $600 million in economic impact. With more stores set to open, SimonCRE expects Prasada to attract over 10 million visitors in the coming year, further establishing it as a top shopping and dining destination in the Phoenix metro area. Additionally, an American Furniture Warehouse is set to open near Prasada North, further enhancing the retail landscape in Surprise, AZ.   Home Run Dugout Brings Innovative Baseball Entertainment to Scottsdale: A New 65,000-Square-Foot Venue Near Talking Stick Home Run Dugout, a leading Texas-based entertainment concept specializing in baseball-themed activities, is set to expand to Scottsdale, Arizona, with its first location outside of Texas. This 65,000-square-foot venue, strategically located near Loop 101 and Talking Stick Way, will feature 30 advanced batting bays, a Biergarten mini-field, an on-site restaurant, and three bars. Construction is scheduled to begin in 2025, with the facility expected to generate approximately 150 jobs, boosting the local Scottsdale economy. This new Scottsdale location will significantly enhance the area’s entertainment offerings, complementing nearby attractions such as Topgolf and Talking Stick Resort & Casino. The expansion is driven by a successful $22.5 million Series A funding round, positioning Home Run Dugout as a key player in Scottsdale’s growing retail and entertainment scene. As part of the region’s broader experience-driven developments, including The Sydney and The Riverwalk, this venue will further establish Scottsdale as a top destination for innovative and immersive entertainment experiences. Discover Artisan at Asante: Surprise, AZ’s Newest 2,700-Home Community with Top-Tier Amenities and Prime West Valley Location The city of Surprise, AZ, has approved a new 13,000-square-foot amenity center at Artisan at Asante, a rapidly growing community that will bring 2,700 new homes to this thriving area. Construction is scheduled to start this fall, with the center expected to be completed by late 2025. This major development is spearheaded by Lennar Corp., Taylor Morrison Home Corp., and PulteGroup Inc., with the first phase featuring 724 homes priced from the low $400,000s. The amenity center, called The Gallery at Artisan, will offer residents a fitness center, two pools—including a resort-style pool with a children's play area—and several pickleball courts, making it a highly desirable location for homebuyers. Located near key developments like the $65 billion Taiwan Semiconductor Manufacturing Co. chip plant in north Phoenix, Artisan at Asante is part of a larger expansion in the West Valley. Surrounding the Asante community, other residential and commercial projects are underway, including a new hospital campus by HonorHealth and the Five North commercial development at Vistancia. With these substantial projects in progress, the Artisan at Asante community is positioned to become a prime destination for those looking for modern, convenient living with easy access to emerging employment and lifestyle opportunities in the West Valley.   Phoenix Metrocenter Mall Transforms into 'The Village': $850M Redevelopment to Revitalize I-17 Corridor The Metrocenter shopping mall in Phoenix is set to undergo a transformative $850 million redevelopment, reimagining the site as "The Village." This ambitious mixed-use project will introduce 2,600 rental units and 150,000 square feet of commercial space, featuring retail, hotels, and entertainment options across 65 acres. Positioned to revitalize the Interstate 17 corridor in north Phoenix, The Village will play a crucial role in the area's economic resurgence. While the demolition of the Metrocenter mall faced delays due to economic factors, it's now slated to begin soon, with construction financing expected to close in the coming weeks. In a strategic move, the city of Phoenix has updated its development agreement to secure funding for infrastructure improvements at The Village. Originally planned to be covered by residential rental taxes, the funding will now be sourced from transaction privilege taxes, sales tax, and parking garage revenue. The entire redevelopment project is projected to take eight years to complete, marking a significant milestone in the revitalization of the Metrocenter area and setting a new standard for urban development in Phoenix.   As the Greater Phoenix Metro continues to grow and evolve, these developments are just the beginning of what's to come. From retail giants to innovative entertainment and thriving new communities, the region is a hotspot for both lifestyle and investment opportunities. To stay ahead of the curve, visit our 'News, Updates, and Coming Soon' page weekly, and don't miss out on the latest happenings in your neighborhood. Ready to explore how these developments can benefit you? Book a time with me below to dive deeper into these exciting opportunities and tailor them to your real estate goals.  

Read more

The Phoenix Arizona Metro area is rapidly becoming one of the most sought-after destinations for businesses looking to relocate or expand in 2024. Known for its robust economy, favorable business climate, and strategic location, Phoenix has attracted a wave of companies across various industries. This blog will explore why businesses are flocking to the Phoenix Metro area, highlight some of the key players making the move in 2024, and discuss what this means for the local economy and residents. Why Phoenix is the Ideal Business Destination in 2024 Phoenix offers a unique blend of advantages that make it an attractive location for businesses: Favorable Business Climate: Arizona's pro-business policies, including low corporate tax rates, minimal regulatory hurdles, and business-friendly legislation, create an environment conducive to growth and innovation in 2024. Strategic Location: Situated at the crossroads of major transportation routes, Phoenix provides easy access to markets in California, Texas, and Mexico. Its proximity to major ports and airports also facilitates global trade. Skilled Workforce: The region boasts a diverse and growing talent pool, supported by leading educational institutions like Arizona State University, which consistently ranks among the top universities for innovation. Cost of Living and Operating: Compared to other major metropolitan areas like Los Angeles and San Francisco, Phoenix offers a lower cost of living and more affordable real estate, both for commercial spaces and residential properties. Quality of Life: With over 300 days of sunshine, a wide array of outdoor recreational opportunities, and a vibrant cultural scene, Phoenix is an attractive place for employees to live and work. Major Businesses Moving to Phoenix in 2024 The influx of businesses into the Phoenix Metro area in 2024 spans various sectors, including technology, manufacturing, healthcare, and finance. Here are some of the most notable companies that have recently announced or completed their move to Phoenix: TSMC (Taiwan Semiconductor Manufacturing Company): One of the world’s largest semiconductor manufacturers, TSMC, is building a massive $12 billion facility in North Phoenix. This investment is expected to create thousands of jobs and cement Phoenix as a key player in the global semiconductor supply chain. Lucid Motors: This electric vehicle manufacturer has established its production facility in Casa Grande, just south of Phoenix. Lucid’s presence is a significant boost to the region’s burgeoning electric vehicle industry, attracting suppliers and other related businesses to the area. Intel: A long-standing presence in the Phoenix Metro, Intel recently announced a $20 billion expansion of its semiconductor manufacturing operations in Chandler. This expansion is part of Intel’s broader strategy to enhance its manufacturing capabilities in the U.S. Virgin Galactic: Virgin Galactic has opened a new spaceship manufacturing facility in Mesa, adjacent to the Phoenix-Mesa Gateway Airport. This facility will be responsible for the final assembly of the company's next-generation Delta-class spaceships, which are expected to significantly increase the frequency of commercial space flights in the coming years​ (Virgin Galactic)​. Dutch Bros: The popular drive-thru coffee chain is relocating 40% of its corporate workforce to Phoenix. This move is part of Dutch Bros' strategy to expand its operations support center in the area, which will help manage the company’s growing number of stores across the country. Magna Steyr: This Austrian automotive manufacturer is ramping up its presence in Phoenix by hiring key personnel for a new manufacturing facility. This expansion highlights Phoenix's growing appeal to international companies seeking to establish a foothold in the U.S. market. Gulfstream Aerospace: Known for its business jets, Gulfstream has expanded its operations in the Phoenix area to take advantage of the region's skilled labor force and strategic location. This move supports the company's growing demand for aircraft servicing and manufacturing. Fender Musical Instruments: The iconic guitar manufacturer has moved part of its production operations to Phoenix, leveraging the area's skilled workforce and cost-effective business environment. SEALSQ: A leading provider of cybersecurity solutions, SEALSQ has set up a new office in Phoenix to support its North American operations, capitalizing on the region's growing tech ecosystem and proximity to key markets. KORE Power: KORE Power, a leading U.S.-based developer of battery cell technology, is building a $1.25 billion manufacturing facility in Buckeye, Arizona, just outside Phoenix. This facility, called the "KOREPlex," will produce advanced lithium-ion battery cells and is expected to create around 3,000 jobs. KOREPlex will play a crucial role in meeting the growing demand for energy storage solutions, particularly in the electric vehicle and renewable energy sectors. These companies, along with others, are driving economic growth in the Phoenix Metro area, creating jobs, boosting the real estate market, and transforming the region into a key business hub for various industries. The Economic Impact in 2024 The influx of businesses into the Phoenix Metro area in 2024 has far-reaching implications for the local economy. The immediate benefits include job creation, increased demand for housing, and a boost to local businesses and services. However, the long-term impact could be even more significant: Job Creation: The arrival of major corporations brings with it thousands of high-paying jobs, ranging from manufacturing and engineering roles to corporate positions in finance, marketing, and management. This, in turn, attracts more talent to the area, further fueling economic growth. Real Estate Boom: The demand for both commercial and residential real estate is soaring, leading to new developments and higher property values. This trend is particularly pronounced in suburbs like Chandler, Gilbert, and Mesa, which are experiencing rapid population growth. Infrastructure Development: To support the growing population and business activity, there is a need for expanded infrastructure, including roads, public transportation, and utilities. This presents opportunities for construction companies and investors. Innovation and Collaboration: With more tech companies and research facilities setting up shop in Phoenix, the region is becoming a hotbed for innovation. This collaborative environment fosters the growth of startups and encourages partnerships between established firms and new ventures. Frequently Asked Questions (FAQs) Q: Why are so many companies moving to Phoenix in 2024?A: Phoenix offers a favorable business climate, strategic location, skilled workforce, and lower operational costs compared to other major cities, making it an attractive destination for business relocation. Q: What industries are seeing the most growth in Phoenix?A: Key industries include technology, aerospace, automotive manufacturing, and renewable energy, with significant investments from companies like Intel, Virgin Galactic, and KORE Power. Q: How will this business influx affect local residents?A: The influx of businesses will create more job opportunities and boost local services and real estate markets. However, it may also lead to increased traffic and higher living costs, necessitating further infrastructure development. Q: What impact will KORE Power's move have on the local economy?A: KORE Power’s $1.25 billion investment in Buckeye is expected to create around 3,000 jobs, contributing significantly to the local economy and supporting the growth of the renewable energy sector in Arizona. Stay Updated on What's Coming to Phoenix To stay informed about the latest developments in the Phoenix Metro area, including new businesses, upcoming projects, and exciting changes on the horizon, I encourage you to visit our dedicated page: New Updates and Coming Soon to Arizona. This page is regularly updated with valuable insights and news, making it a must-visit resource for anyone interested in the dynamic growth of our region. Whether you're a resident, investor, or simply curious about what’s next for Arizona, this page will keep you in the loop with all the essential information you need. Be sure to check back often to stay ahead of the curve and take advantage of the opportunities that Arizona's thriving economy has to offer! Conclusion The Phoenix Arizona Metro area is on the cusp of a new era of economic prosperity in 2024, driven by an influx of businesses seeking a favorable environment for growth. As companies like TSMC, Intel, Virgin Galactic, KORE Power, and others establish their presence in the region, Phoenix is poised to become a major player on the global business stage. For residents and investors alike, this presents a wealth of opportunities and the promise of a bright future. As the expert on all things related to business in the Phoenix Metro, I’ll continue to monitor and share insights on the latest developments, helping you stay informed and make the most of the opportunities this dynamic region has to offer.  

Read more

Explore New Communities and Exciting Developments in the Greater Phoenix Metro Area: Your #1 Source for Comprehensive Arizona Real Estate News and Updates! Goodyear Ballpark Transformation: New Retail and Residential Developments to Create a Vibrant Community Hub The city of Goodyear is transforming Goodyear Ballpark by adding nearly 10,000 square feet of new retail space available for lease, ideal for local restaurants or retail businesses. This new retail space, located at the ballpark, complements a larger 27,000-square-foot retail development by Diversified Partners LLC adjacent to the ballpark, featuring tenants like Starbucks, Farmer Boys, Jersey Mike’s, Bruster’s Ice Cream, Waba Grill, Nautical Bowls and Mesquite Fresh Street Mex. Construction for the new retail development begins in September, with stores expected to open by early 2026. Additionally, a 75,000-square-foot Rush Funplex indoor entertainment center is planned nearby, complete with mini golf, go karts and arcade. Extensive residential developments, including apartments and single-family homes, are also underway, transforming the area into a vibrant mixed-use destination. Amkor Technology Unveils $2 Billion Semiconductor Facility in Peoria with Major Investments Planned for 2026-2027 Amkor Technology Inc. disclosed details about its new $2 billion semiconductor packaging and testing facility in Peoria, set to break ground in late 2025, with major investments planned for 2026 and 2027. The facility will include a 600,000-square-foot clean room, larger than initially planned, and utilize 2.5D technology critical for AI and high-performance computing. The U.S. Department of Commerce has preliminarily agreed to a CHIPS Act award package for Amkor. Despite strong Q2 performance, Amkor's stock fell due to lowered Q3 revenue guidance, attributed to slow recovery in automotive and industrial markets and weak demand in data centers. The company remains optimistic about long-term growth, leveraging its advanced packaging technology and strategic partnerships. Northside at SanTan Village Breaks Ground: High-End Retail, Restaurants, and Hotel Coming to Gilbert, AZ Okland Capital and San Tan Development Group have begun construction on Northside at SanTan Village, a mixed-use development in Gilbert, Arizona, featuring high-end retail, restaurants, and a hotel. The first phase includes 37,245 square feet across six buildings, creating numerous leasing opportunities. The project, with a total investment of over $100 million, aims to transform a 20-acre area and integrate seamlessly into the upscale offerings of the SanTan Village corridor. Completion of the first phase is anticipated by mid-2025, with a grand opening in fall 2025 and additional phases, including a 134-key hotel, planned subsequently. Shea Homes Unveils New 55+  Boutique Community Shea Homes is launching a new boutique concept, Trilogy Boutique, across four states, including Arizona, California, Virginia, and Washington. These smaller communities will feature between 250 and 550 homes, compared to the typical 2,000-home Trilogy Signature communities. Recently, Shea Homes acquired 76 lots in Northpointe at Vistancia, Peoria, adding to the 125 lots purchased in 2023, with plans to buy more. The Ridgecrest development will start construction by late 2024, offering homes priced from the high $400,000s. This boutique model aims to provide the same quality and lifestyle of Trilogy communities in a more intimate setting. Backyard to Replace Sandbar Mexican Grill in Gilbert with a Vibrant New Concept Backyard, a rapidly expanding restaurant concept from Scottsdale-based Evening Entertainment Group (EEG), is set to replace the Sandbar Mexican Grill at 1975 E. Williams Field Road in Gilbert, with a scheduled opening during the first week of September to coincide with the NFL season. Known for its vibrant atmosphere, Backyard features a blend of indoor and outdoor spaces, gourmet burgers, wood-fired pizzas, craft cocktails, numerous large-screen TVs for sports viewing, live music, and interactive games like cornhole and giant Jenga. EEG plans to renovate the existing 9,500-square-foot space, transforming it with modern decor, comfortable seating, and state-of-the-art audiovisual equipment to elevate the overall dining and entertainment experience.   For the latest information on upcoming developments in the Greater Phoenix Metro, visit our 'News, Updates, and Coming Soon' page for weekly updates. Stay informed about what's happening in your neighborhood, city, or area of interest. Book a time with me below to learn more and discuss in detail!  

Read more

Explore New Communities and Exciting Developments in the Greater Phoenix Metro Area: Your #1 Source for Comprehensive Arizona Real Estate News and Updates! Maricopa County Leads U.S. in Economic Growth 2023-2024 Maricopa County has been ranked No. 1 in the nation for economic growth over the past year, driven by significant job creation and business investments. Site Selection magazine, assessing U.S. counties based on projects, investments, and job creation from January 2023 to March 2024, placed Maricopa County ahead of major metropolitan areas like Houston, Atlanta, and Dallas. This ranking highlights the county's successful funding and workforce training through its In Demand Industry Prioritization program. Community and business leaders have worked to create a favorable business environment, attracting over 50 companies, generating more than 7,900 jobs, and securing $8.4 billion in capital investments. Major projects include Taiwan Semiconductor Manufacturing Co.'s $65 billion campus and LG Energy Solution's $5.5 billion battery complex, supported by federal CHIPS Act funding. With Phoenix leading the U.S. in manufacturing growth, driven by 14 major projects since 2020, Maricopa County continues to attract businesses due to its robust infrastructure, workforce, and community development focus, positioning it as a prime location for future investments. Massive Investment to Transform Goodyear, AZ with Billions in Development Goodyear, Arizona, is poised for significant development, thanks to the investments by prominent developers who are targeting this fast-growing area. Two major firms are set to invest over $3 billion in housing and commercial space around the future State Route 30, a 29-mile reliever to Interstate 10 expected to boost economic development in the West Valley. These projects could bring more than 10,000 jobs and thousands of residential units to Goodyear. Among the notable developments is the nearly 7 million-square-foot Goodyear AirPark industrial campus, representing a $1 billion investment with the potential to create 13,000 new jobs. Additionally, the 20,000-acre Estrella master-planned community will see further expansion, while the upcoming King Ranch project will introduce 5,100 homes and 120 acres of commercial space. These initiatives, supported by strategic city planning and robust infrastructure, position Goodyear as a prime location for future investments and sustained growth. Major Homebuilder Acquires 243 Lots for New Community at White Tank Mountains A prominent homebuilder recently paid $14.56 million for 243 lots at the base of the 38,000-acre White Tank Mountains. The transaction closed on July 10 and was brokered by a Scottsdale-based firm. Significant growth in the area is driven by job creation along the 303 in Buckeye and near TSMC. The lots are shovel-ready, with grading set to begin immediately. Of the 243 lots, 40 will be extra-large with attached RV garages. Homes, priced from $450,990 to $786,990, will range from 1,850 to 3,217 square feet, with sales expected to start next year. The new community, White Tank Vistas, is located at Northern Avenue and Beardsley Canal Road, about four miles west of Loop 303. The homebuilder recently completed two nearby communities, Azure Canyon and Aria Ranch, and continues to expand in the area. The White Tank mountain range, a preserve with trails and waterfalls, borders the new development. In addition to these 243 lots, the homebuilder is developing 1,473 lots throughout metro Phoenix, with four new communities set to open this year. These developments will more than double the company's presence in the Valley after selling 759 homes in 2023. Luxury Townhomes Coming to Scottsdale’s Cavasson Development by Toll Brothers Toll Brothers Inc. has applied to develop 136 luxury townhomes, called Toll at Cavasson, on an 11.27-acre site within the 135-acre Cavasson development in Scottsdale. This mixed-use area, developed by Nationwide Realty Investors, includes offices, hotels, restaurants, and multifamily residences. The new townhomes will feature individual garages, private outdoor spaces, and community amenities such as a swimming pool, fire pit, and game lawn. With 54 guest parking spaces, the development aims to meet the growing demand for diverse housing options in the area. Nationwide Realty Investors acquired the land for $83 million in 2018. Toll at Cavasson will be located northwest of existing office buildings that host several major employers. Recent leases at the Cavasson East office building include Osaic, which is taking 29,000 square feet. The entire Cavasson development is projected to be worth over $1 billion upon completion, with significant progress already made as of May 2023.   For the latest information on upcoming developments in the Greater Phoenix Metro, visit our 'News, Updates, and Coming Soon' page for weekly updates. Stay informed about what's happening in your neighborhood, city, or area of interest. Book a time with me below to learn more and discuss in detail!  

Read more

    Explore New Communities and Exciting Developments in the Greater Phoenix Metro Area: Your #1 Source for Comprehensive Arizona Real Estate News and Updates! Arizona Cities Lead Nation in Economic Growth Several Arizona cities lead the nation in economic growth, according to a recent study. Mesa and Phoenix ranked No. 1 and No. 3 among large cities, respectively, due to significant population growth and increased median earnings. Gilbert and Chandler topped the medium-sized city category, while Surprise ranked fifth among small cities. Peoria just missed the top 10 for small cities, placing 11th. From 2018 to 2022, these Valley cities saw a 38% GDP increase and a 34% rise in infrastructure, with over 16,000 miles of new roads. Mesa's economic diversification and infrastructure investment earned it the top score of 66. Gilbert and Chandler saw a 38% GDP increase and substantial population and housing growth. Surprise also showed strong growth in GDP and infrastructure, scoring 55.9. The Valley experienced a 54% rise in business applications and a 2% employment rate increase, making Phoenix and its surrounding cities attractive places to live. In May, a PODS Enterprises report ranked Phoenix No. 7 for move-ins, supporting the area's economic expansion.   New Retailers Announced for Shops at Lake Pleasant in Peoria Vestar, the largest privately held shopping center owner in the western U.S., announced 14 new retailers for The Shops at Lake Pleasant in Peoria, with six already open and the rest by the end of 2024. The shopping complex, nearly 100% leased, spans 90,000 square feet and will be fully operational by Spring 2025. Current tenants include Raising Cane’s, Over Easy, and Visionworks, with others like Handel’s Ice Cream and HonorHealth opening soon. Situated off Happy Valley Road and Lake Pleasant Parkway, the center benefits from a high-income area with nearly 150,000 residents within a 5-mile radius. Peoria, the 6th largest city in the Phoenix Metro area, is recognized for its booming housing market.   Construction Begins on New $100M Business Park in Goodyear Dallas-based Formation Interests has begun constructing a 688,000-square-foot business park in Goodyear, adjacent to the future Buc-ee's convenience store. This $100 million development, Formation's first in metro Phoenix, will unfold in two phases, offering new industrial, office, and commercial spaces. The 44-acre site at Bullard Avenue and Celebrate Life Way received zoning approval last year. The first phase, featuring two buildings totaling 430,000 square feet, is set to complete by June 2025, with a second phase of 230,000 square feet across three buildings breaking ground next year. Amenities include a 5-acre park for workers. The development, designed by Deutsch Architecture Group and built by Willmeng Construction, aims to attract tenants in advanced manufacturing and technology industries. The site benefits from proximity to numerous amenities, including the future Buc-ee's and the City of Hope Cancer Treatment Center.   Arizona Leads Nation in Semiconductor Investment and Workforce Development Business Facilities' 20th Annual Rankings Report showcases Arizona's remarkable progress in the semiconductor industry, awarding it the top position for 2024. Since the enactment of the CHIPS and Science Act in 2022, which allocated nearly $53 billion for U.S. semiconductor manufacturing, Arizona has drawn over $102 billion in investments and created more than 15,700 industry jobs. This federal act has ignited 83 projects and over 56,000 jobs across the country. Arizona's attractiveness stems from its expansive land, low risk of natural disasters, and a strong talent pipeline, bolstered by initiatives like the Semiconductor Technician Quick Start program. Public universities in the state, including Arizona State University, are increasing engineering enrollment and launching new programs to enhance semiconductor workforce development. Arizona's proactive measures, such as establishing a new semiconductor workforce training accelerator, solidify its position as a leader in addressing the U.S. semiconductor workforce challenge.   For the latest information on upcoming developments in the Greater Phoenix Metro, visit our 'News, Updates, and Coming Soon' page for weekly updates. Stay informed about what's happening in your neighborhood, city, or area of interest. Book a time with me below to learn more and discuss in detail!  

Read more