Joint Venture Investing in Metro Phoenix Single-Family Rentals

By Angela Gonzales | Phoenix Business Journal Two out-of-state real estate firms formed a $1 billion joint venture to acquire and renovate single-family rental homes across the western United States, with big plans for Arizona. Denver-based Atlas Real Estate and San Francisco-based DivcoWest are targeting high-growth states, including Arizona, Colorado, Idaho, Nevada and Utah. Vincent …

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Scottsdale Homebuilder Takes On Single-Family Rental Market

By Angela Gonzales | Phoenix Business Journal Known for its award-winning custom homes, Camelot Homes is taking a giant leap into the single-family rental home market. The Scottsdale-based family owned business is working in partnership with Scottsdale-based Arcadia Communities to build single-family rental homes scattered throughout the Valley, with more than 300 lots in escrow. …

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Builders Gobbling Up Land to Develop in North Scottsdale

By Angela Gonzales | Phoenix Business Journal Mark Weber is making big land buys in metro Phoenix at a time when it’s getting tougher to find new acreage. The Arizona division president for Houston-based David Weekley Homes said he is spending $117 million on land and development for 12 new projects totaling more than 1,000 …

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255 Apartment Units Planned for Corner of Scottsdale and Bell

By Mark Carlisle | Scottsdale Independent A high-rise apartment building is planned for the southwest corner of Scottsdale and Bell roads, across the street from The Promenade shopping center. The project could face pushback, as two members of the local planning committee have already said they think the 157-foot, 14-story building is too tall. The …

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Scottsdale Passes The Kimsey Development in Old Town

By Melissa Rosequist | Scottsdale Independent Will The Kimsey give downtown Scottsdale proprietors a much-needed shot in the arm? Most of Scottsdale City Council thinks so. The Kimsey — with plans that include a 168-room hotel, 190-dwelling units, a restaurant and commercial space at 7110 E. Indian School Road — was opposed only by Councilwoman …

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Luxury Homes Selling Quickly at The Phoenician

By Angela Gonzales | Phoenix Business Journal Homes at a new residential community on what formerly was a golf course at The Phoenician are selling like hot cakes. Scottsdale-based Cullum Homes and Canada-based Replay Destinations are seeing success at the new Ascent at The Phoenician community, where they are building luxury condominiums and custom homes. …

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Short-Term Rental Senate Bill Dies in Arizona House

By Howard Fischer | Daily Independent State lawmakers quashed the last remaining measure to rein in short-term vacation rentals on April 1, concluding that it did so little as to not be worth the effort. Senate Bill 1379 would have allowed communities to impose fines on owners who fail to provide information for police and …

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Phoenix Has Highest ‘Bottom-Tier’ Sales Rate On New Homes

By Mary Salmonsen | BUILDER Online New-home sales are up by 35% YOY as of February—considering both the change in sales rate, which ties in supply and demand issues, and the change in total new-home orders. Jacksonville has the highest YOY change in the Zonda New Home Pending Sales Index for large metros at 80%, …

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REALTOR® Warning About Texted Offers to Buy Homes

By Brent Ruffner | Daily Independent Owning a home in the Valley often means getting a pesky, annoying text message from an unknown someone wanting to buy it. A top official from the Arizona Association of Realtors® has, too. “I receive them myself,” said Arizona Realtors® President-Elect Gary Nelson. While the practice may skirt a …

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Phoenix Named a Top Global Luxury Home Market

By Angela Gonzales | Phoenix Business Journal Phoenix was named a top luxury real estate market to watch in a new report by Coldwell Banker Global Luxury. Phoenix was identified along with Denver and Dallas as secondary markets on the rise in the new report, called The Report: 2021 Global Luxury Market Insights. Chris Karas …

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