Commercial Real Estate & Business News – December 19, 2024

The Federal Reserve announced a quarter-point cut to its key interest rate Wednesday, an effort to keep what appears to be a steady but cooling economy stable. The move, the Fed’s third rate cut of the year, reduces the central bank’s target rate to between 4.25% and 4.5%. In its statement…»

City officials are spending millions to upgrade a sports-focused stadium outside Phoenix as new and high-end venues across the country grow in popularity. The city of Glendale, Arizona, is spending $42 million to transform the Desert Diamond Arena from a traditional sports arena into a premier “music…»

The Peoria City Council approved a landmark Intergovernmental Agreement (IGA) with the Arizona State Land Department (ASLD) Tuesday evening, that supports Council’s smart growth strategies, which will include quality development and new job and revenue generation for decades…»

The city of Peoria is pursuing a unique partnership with the Arizona State Land Department to set up 6,700 acres for future development. Through the agreement, the West Valley municipality will serve as the master planner for the sprawling site and invest an initial $140 million into backbone…»

Desert Diamond Casino White Tanks at San Lucy, the $450 million casino by the Tohono O’odham Gaming Enterprise, opens Wednesday.The casino, located at Loop 303 and Northern Parkway, is located near Glendale but on land that was taken into trust by the federal government for the…»