Commercial Real Estate & Business News 5-19-2025

Renting appears to be becoming more affordable across the country as the typical rent burden fell below the 30% of income rental affordability rule of thumb in most markets, according to Realtor.com’s April rent report. The study found that renters owning a typical household income spent 23.4% of their income to lease a typical for-rent home, down from 24.7% in April 2024. Only five of the top 50 U.S. metros had a rent…»

Commercial and multifamily mortgage loan originations increased 42% year-over-year in the first quarter of 2025 compared to a year earlier, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. The overall increase was driven by a rise in originations for office, healthcare and multifamily. Q1 saw a 205% Y-O-Y increase in dollar…»

New figures released Thursday by the U.S. Census Bureau show that Phoenix has reinforced its position as the nation’s fifth-largest city, registering the nation’s eighth-largest numerical population increase between 2023 and 2024. The Census Bureau’s Vintage 2024 estimates for cities and towns found that several cities in and around the Valley were among national leaders in population growth over one-year and four-year…»

The development makeup of downtown Phoenix has changed dramatically in the past two decades and while there are many factors behind that change – including the expansion of higher education campuses, light rail and more housing – sports, entertainment and other large events have played a key role in the area’s transformation. Chase Field, PHX Stadium (formerly Footprint Center) and the Phoenix Convention…»

A strip retail center at Bell and Scottsdale roads could be demolished to make room for a new apartment complex. Chicago-based Fifield Companies submitted plans to redevelop the 4.3-acre site near the boundary between Phoenix and Scottsdale. The site contains a two-story commercial center that, if approved by the city, would be razed to make room for a new housing project…»