Commercial Real Estate & Business News – August 2, 2022

National Developer Plans Large Multifamily Complex in Historic Area of Phoenix

A large, mid rise multifamily complex is being proposed for a long-vacant site in midtown Phoenix about a year after it was advertised as an infill development opportunity. City of Phoenix documents show that St. Louis-based Subtext Living, a developer of…»

What a Recession Could Mean for Multifamily


Slowing construction will likely keep multifamily supply and demand in balance for some time despite fears of a recession, according to some analysts. “Even if multifamily demand cools, limited multifamily construction will help sustain the sector,” a trio of…»

Phoenix Multifamily Vacancies Continue To Rise

Robust job and population growth have fueled a hot real estate market in the Valley of the Sun. In-migration trends here are among the best in the United States in part due to Phoenix’s proximity to Southern California. And apartment builders have plenty of…»

Metro Phoenix Median Home Price Set to Drop by $25K, but Don’t Expect a Crash. Here’s Why

Metro Phoenix’s overly hot housing market cooled quickly in June, and prices are expected to drop in July. Rising interest rates, stock market swings, a jump in supply of houses for sale and slower sales all hit the market this summer. As a result, the…»

Build-For-Rent Co. Closes 40 Acres Near Massive Microchip Facility

The Empire Group of Companies recently closed on 40 acres near the Taiwan Semiconductor Manufacturing Company north of the Valley where it plans to build ± 354single-family homes for rent. The proposed development will be…»