Today’s News 9-25-2025

K. Hovnanian Homes had no intention of backing down at a Sept. 23 Arizona State Land Department Auction. The New Jersey homebuilder took on several major national competitors, ultimately exceeding the minimum bid by more than $33 million to buy 52.9 prime acres in Desert Ridge. The starting bid price was $37.75 million. Toward the end of the auction, it was between K. Hovnanian and Blandford Homes, each bidding in $100,000 increments. K. Hovnanian won the…»

Most Western U.S. markets had vacancy rates above the national average of 18.7% in August, according to this month’s Office Report from CommercialCafe. For instance, last month, Seattle saw the highest vacancy rate in the region with a little more than 27% of space unoccupied, while San Francisco was second in the region with vacancy here reaching nearly 26% in August. Meanwhile, Phoenix remains one of the only large markets where office…»

Arizona State University remains the most innovative university in the nation, according to the latest U.S. News & World Report rankings. That makes 11-straight years that the Tempe-based school has held the title — which is as long as the recognition has existed as part of the magazine’s annual assessment of the nation’s higher education institutions. On the overall national school rankings, ASU jumped up four spots from last year’s rankings to come in at…»

While a huge amount of developments are under way north of Shea Boulevard, a few are simmering to the south. One of them: The Arden. The planned development is at 7601 East Polk Street, just north of McKellips Road and a paper airplane flight from the Tempe border. At the Oct. 9 Development Review Board, the Arden will make its case for two dozen “townhome style units,” each with two-car garages. Four parcels are combined on the 1-acre lot…»

A vacant 5.5-acre site at Central Avenue and Broadway Road could be redeveloped for affordable housing and commercial uses as Phoenix works to bolster transit-oriented development along the South Central light rail extension. “This is sort of a gateway to the south Phoenix community,” Xandon Keating, Phoenix’s deputy economic development director, said. “We are using this site for a development that can speak to the gateway…»