Commercial Real Estate & Business News – April 9, 2024

On April 8, the Biden-Harris Administration announced that the U.S. Department of Commerce and Taiwan Semiconductor Manufacturing Company (TSMC) have signed a non-binding preliminary memorandum of terms (PMT) to provide up to $6.6 billion in direct funding under…»

Much-needed affordable housing is going on up on Seventh Avenue, courtesy of Catholic Charities. Why it matters: The Valley is suffering a shortage of about 270,000 housing units, according to a 2022 report by the Arizona Department of Housing. The big picture: The building…»

Amid all the angst about the stability of the multifamily sector, there are signs that the market is beginning to work its way through its problems, even though parts of the country, especially in the overbuilt South, still show weakness. A report by Apartments.com, a CoStar…»

The Phoenix office market maintained its position as one of the nation’s leaders in investment, with its active sales activity placing it second across similar Sun Belt cities, CommercialEdge data shows. In line with last year’s drop in construction activity, Phoenix…»

The unemployment rate decreased marginally in March to 3.8%, the Bureau of Labor Statistics noted in its Employment Situation Report. Last month, the unemployment rate sat at 3.9%. The rate dropped, in part, due to the additional 303,000 jobs added in March. The unemployment…»