Commercial Real Estate & Business News – July 13, 2023

Google is moving dirt on its $1 billion data center campus in southeast Mesa. The project, which was often referred to by its codename “Redhawk,” is being built on more than 185 acres near the northwest corner of Sossaman and Elliot roads. Google said construction on the site started on…»

The Federal Reserve’s efforts to orchestrate a soft landing appear to be working. The economy seems to be bearing fairly well the burden of the most-aggressive monetary tightening program in history. Economic growth in the first quarter was reported to be 2% in its final estimate, exceeding…»

Apartment demand is rebounding in 2023 Q2 as rent growth cools “rapidly,” according to a report by RealPage. “Net absorption came in just shy of surging new supply levels in 2nd quarter 2023, stabilizing occupancy rates after a precipitous decline in 2022,” the firm said. Which makes…»

A developer is making big plans to set up a long-vacant property known as King Ranch in Goodyear for future development. The 1,861-acre site is located just south of the Gila River and just across from the Golf Club at Estrella and the Sierra Estrella Mountains. On July 10, Goodyear…»

​A goal to develop a piece of city-owned land near Park Central Mall is the latest step in Phoenix’s plan to grow and preserve affordable housing in the city. The city is preparing to seek proposals to build a mixed-income housing development on the 3.2-acre site near Central…»