DMB Moves Ahead On Mixed-Use Development in North Scottsdale

By Angela Gonzales | Phoenix Business Journal After a bit of a hiatius following the Great Recession, DMB Associates Inc. is closing deals quickly on a 75-acre mixed-use project in north Scottsdale. It’s been a long time coming for the project, called One Scottsdale, just north of Loop 101 on Scottsdale Road. The Scottsdale-based developer …

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Scottsdale-Based Build-to-Rent Developer Starts Construction Firm

By Angela Gonzales | Phoenix Business Journal Avenue North, which has been busy developing $200 million build-to-rent communities in south Phoenix, has launched a construction company to build projects for other developers and owners. The goal of this new third-party construction firm is to build 1,000 units a year, said Ryan Hartman, chief vision officer …

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Apartment Sales Topping $100M Continue to Close in the Valley

By Angela Gonzales | Phoenix Business Journal Investors are cashing in on a hot market as multifamily property sales over $100 million continue to close in metro Phoenix — even for apartment communities built in the 1980s. The biggest deal to close recently was the $166 million sale of La Privada at Scottsdale Ranch. An …

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Valley Emerges as a Leader in Redeveloping Retail Centers

By Corina Vanek | Phoenix Business Journal When Los Arcos Mall opened more than 50 years ago in Scottsdale, it was one of the Valley’s few indoor shopping centers. The behemoth structure, anchored by Sears and Broadway when it first opened in 1969, quickly became a popular place to shop and gather. But after years …

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White House Doubling Down to Roll Back Single-Family Zoning Laws

By Kery Murakami | Route Fifty In a little-noticed move, President Biden is ramping up his push to get local governments to relax single-family zoning laws, a type of land-use policy that many critics blame for restricting the supply of affordable housing and that the president’s own economic advisors have said “systemically discriminated against Black …

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Developer Pays $61.85M for Prime Scottsdale Development Site

By Angela Gonzales | Phoenix Business Journal Blue 85.6-acre parcel at SW corner of Loop 101 and Hayden Rd in Scottsdale sold at auction April 13. A developer bought a prime piece of land in Scottsdale at an Arizona State Land Department auction on Wednesday. Hayden Loop 101 Investors LLC, an entity tracing to Scottsdale-based …

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Banner Health Eyes North Scottsdale for Next Hospital

By Angela Gonzales | Phoenix Business Journal Banner Health — the state’s largest health system and among the largest in the nation — is about to get even bigger. The nonprofit health system is in preliminary plans to buy land for a new hospital in north Scottsdale. The Phoenix-based health system is working with city …

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Scottsdale Developer Doubles Investment in Phoenix Retail Center

By Angela Gonzales | Phoenix Business Journal After a $1.5M renovation and boosting occupancy to nearly 100%, The Shops at Dynamite Creek sold. After paying $10.5 million for a shopping center in August 2020, David Malin has sold it for $21.95 million. During the 18 months that he owned The Shops at Dynamite Creek at …

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Phoenix No. 2 Market in U.S. for Industrial Development

Source: AZ Big Media Based on provisional estimates, up to 592.5 million square feet of industrial space is currently under construction nationally. With industrial development gearing up and demand high, 2022 is shaping up to be the strongest year yet for industrial development. And Phoenix industrial development puts it right in the mix, making the …

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Developer Proposes $1B Residential Project in North Scottsdale

By Angela Gonzales | Phoenix Business Journal Scottsdale-based Optima Inc. is planning a $1 billion luxury residential community in north Scottsdale with 1,500 units — the largest of its projects to date. The luxury developer has submitted its pre-application with the city of Scottsdale to begin the approval process for the project at the southeast …

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