AZ News
SimonCRE eyes land for Prasada East retail project, anchored by Whole Foods
The site will anchor a larger mixed-use area that includes future apartment projects on what the developer calls the best undeveloped multifamily land in the West Valley.
Cleveland developer partners with Chicago fund on 353-unit community in Mesa; plus more deals
The NRP Group is partnering with Origin Investments on the $94 million project, expected to deliver in 2028 when supply constraints may create opportunity. Plus, our weekly roundup of Valley real estate deals includes a pair of recent office moves, new financing for a Scottsdale shopping center and more.
Paradise Valley estate sells for over $12M cash to out-of-state buyer
The $12.25 million cash sale of a Paradise Valley custom home marks the 10th mansion sold for more than $10 million in Paradise Valley so far this year as the luxury market heats up.
Luxury market surge: Ritz-Carlton Residences developer closes millions in villa sales
Three luxury units closed on a single day at The Ritz-Carlton Residences. Regional luxury home sales are up 30% over last year.
A big homebuying headache is going away soon
The Homebuyers Privacy Protection Act takes effect March 5. Here's what that means for buyers and sellers.
California developer eyes Cooley Station for another $300M project
A California developer is about to embark on its fifth multifamily project in the southeast Valley. Here's why the company is bullish on that area of town.
Paradise Valley estate snags $20 million while still under construction
The ultra luxury market in metro Phoenix is still on fire, as other price ranges are showing price drops. Here's the latest property to sell for $20 million, even though construction isn't yet completed.
Lennar teams with commercial developer on state land buy in Peoria
Lennar plans more than 100 homes with an unusual alley-access design in Peoria, while a retail partner will add shops to the overall project.
Price drop: Luxury estates priced under $5M offer 'sweet spot' for bargain hunters
The "frenetic" sales pace of Valley luxury homes in December and January didn't quite track into February. See photos of several luxury listings under $5 million that have dropped in price.
Los Angeles developer opens $175M apartment community, with more on the way
Shelter Asset Management is also building a 223-unit community in Phoenix. Metro Phoenix rents declined 3.3% annually.
The Bergen's success prompts developer to scout Phoenix for next ultra-luxury rental
The developer of The Bergen — that at one point had monthly lease rates of $20K — is eyeing metro Phoenix for its next ultra luxury residential community.
Center Court Pickleball Club to open fourth location, corporate HQ in Scottsdale; plus more real estate deals
A 35,000-square-foot Pickleball facility will replace a former Scottsdale big-box store, just one of the items in our weekly roundup of real estate deals, which also includes construction of a new golf clubhouse, a credit union's new East Valley branch and more.
University of Arizona approved for $250M residence construction project
A Minneapolis construction giant will build the new 1,200-unit residence tower on the University of Arizona Tucson campus in a partnership with a nonprofit foundation.
Real estate mogul Mike Ingram tapped to lead GCU honors college expansion
A top real estate developer with connections across the country now has his name attached to Grand Canyon University's Honors College. His goal: to double the size of the honors college to become the largest in the nation.
As mortgage rates dip, Phoenix housing market sees more activity
Mortgage rates have dropped below 6%, the first time since the fall of 2022. Local analysts dissect how that will affect the housing market in metro Phoenix.
Ritz-Carlton developer secures financing for Villa construction amid bankruptcy
The Scottsdale developer secured millions in bankruptcy financing to finish luxury condos while working toward a plan to restart its stalled high-end hotel.
Team USA baseball coach plops down $10.6M for newly built Paradise Valley estate
After listing his 136-acre estate in Oklahoma for $12 million, a retired Major League Baseball outfielder just bought a newly built home in Paradise Valley for $10.6 million.
Custom home with Superstition Mountains views sells for record-breaking price in Apache Junction
A custom home built in 2000 with unobstructed views of the Superstition Mountains just sold for a record-breaking $3.45 million, representing the highest home sale of Apache Junction.
My View: The issue isn't who owns homes in Arizona, it's how hard they are to build
Single-family home permits in have dropped 12% while multifamily permits fell over 30%. In this guest column, the former Arizona housing chief says the state needs diverse supply, not just luxury apartments.
Bela Flor sells newly built Avondale rental community for $30.1M
The Mesa homebuilder sold the 70-unit property at 93% occupancy. It's the company's second major build-to-rent exit in less than a year.
