Today’s News 9-15-2025

New apartments were rented slightly faster in the first quarter of 2025 than in the second half of 2024, offering a brief but significant pause in what had been a long downward trend in absorption rates. In the first quarter, 48 percent of newly built apartments were leased within three months, inching up from 47 percent and 46 percent in the previous two quarters, according to a Redfin analysis of Census Bureau data. While the…»

Vestar has plans in the works for another major mixed-use development, this time in north Phoenix. The developer is proposing a mixed-use project including a 544-unit hotel, a nearly 86,000 square-foot fitness center and 437,000 square feet of retail space, called Dove Valley Towne Center. A rezoning request was introduced at the North Village Planning Committee meeting Sept. 11. The goal is to set up the over 100-acre site for…»

More student housing is coming to the East Valley, as well as a new Target and townhomes. A 479,388-square-foot building will house nearly 800 students near Arizona State University in Tempe. It will also have space for ground-floor retail. National retailer Target will anchor phase two of Vineyard Towne Center in Queen Creek. The center also includes Arizona’s first Zaxby’s. And, a 38-unit townhome community is under construction…»

Taiwan Semiconductor Manufacturing Co. is eyeing land south of Loop 303, across the freeway from its north Phoenix campus, for expansion. The semiconductor giant signed on as an applicant of a massive rezoning in north Phoenix, which was first submitted by PulteGroup in late 2024. The land, which is owned by the Arizona State Land Department, must also go through a due diligence process and be sold at a public auction…»

Following the onset of the pandemic, Arizona managed to further diversify and expand its economy, cementing its reputation as a top-tier commercial hub — bringing both prosperity and new problems. As residents and businesses poured into the Valley, demand for multifamily housing outstripped supply, leading to higher rents and diminished affordability across the region. Developers responded with a burst of apartment construction…»