Multifamily construction in Greater Phoenix returned to record level highs for completed number of units, rental rates and investment activity for the first time in over a decade.
This year marks one of the highest rates of completion of multifamily developments since 2000. It also exceeds investment activity levels not seen since 2007. In turn, rental rates rose for a seventh consecutive year, which marks a 30 percent rise since 2009.
FEATURED:
Scottsdale Airpark “Edge City”
Why It Will Be Hot: Two words: robot valets
You pull into the garage at the Sterling Collection at Silverleaf, a stunning community of Euro-condos with views of the McDowell Sonoran Preserve. You ease your Lexus hybrid onto a steel tray and stroll to your private elevator that opens into your penthouse, leaving omni-directional, battery-powered robots to park your car for you. When you require it again, just press a button, and your vehicle manifests in minutes. We present: robotic valet.
We invite you to view the Cooke Multifamily Pipeline Report, a comprehensive look at the 2016 multifamily market in an exploration of top sub-markets of Arizona. The report touches on multifamily and development trends including Phoenix multifamily vacancy, population overview and employment overview trends.. Click to view the full report or contact us at gerda.kauks@colliers.com for a complimentary printed copy.
A massive supermarket offering global foods is opening in the East Valley on Wednesday.
The supermarket will hire 80 to 100 people. AZ International Marketplace cost $10 million to put together and is roughly the size of two football fields.
Known for its pro-business climate, high quality of life, diverse economy with a skilled workforce, infrastructure and public-private collaboration, the Phoenix East Valley region continues to experience significant growth fueled by emerging local business and national corporate relocations, says East Valley Partnership. Comprised of the cities of Chandler, Gilbert, Mesa, Tempe, Apache Junction and Queen Creek, the region offers a labor force of more than 750,000 workers highly skilled in scientific, technical, healthcare and professional services, and constitutes 42% of the total workforce in the metro-Phoenix area.
Work commutes are short and easily accessible through major highway and interstate routes, while light rail continues to expand in the Phoenix East Valley adding thousands of riders per day and setting in motion a revitalization process in Mesa, AZ, spurring both residential and commercial development activity. Decades of aviation investment and planning has also made Phoenix East Valley an optimal landscape for aviation, aerospace, defense and other high-tech industries to thrive. The region has become a key point of commerce in the Southwest boasting an array of assets that include industry giants such as Boeing, MD Helicopters, Honeywell, Orbital ATK, Able Engineering, two commercial service airports and two of the busiest general aviation airports in the country.
Known for its pro-business climate, high quality of life, diversified economy with a skilled workforce, robust infrastructure and public-private collaboration, the PHX East Valley region continues to experience significant growth fueled by emerging local business and national corporate relocations.
Comprised of the cities of Chandler, Gilbert, Mesa, Tempe, Apache Junction and Queen Creek, the region offers a labor force of more than 750,000 workers highly skilled in scientific, technical, healthcare, and professional services and comprises 42 percent of the total workforce in the metro-Phoenix area.
This week’s moves represent a marked return on the city’s $10 million investment to upgrade Southern Avenue and the Fiesta District.
