Commercial Real Estate & Business News August 21, 2018

PHOENIX (AP) – Arizona’s unemployment rate has dipped slightly. The Arizona Office of Economic Opportunity reported Thursday that the state’s seasonally adjusted unemployment rate decreased to 4.6 percent in July from 4.7 percent in June. The office says the state’s economy lost 17,500 nonfarm jobs in July…»
A well-heeled Canadian developer that already made a splash in the Phoenix market with a sprawling master-planned community in Mesa is set to duplicate that effort in the West Valley. Brookfield Residential Properties Inc. is putting together the final pieces for its planned 1,130-acre project known as Alamar, located in Avondale, just west of Phoenix…»
Apartments in downtown Tempe with a mid-century garden style and cheaper rents will be razed and replaced by a seven-story luxury apartment complex aimed at students. Rents at the current complex, Tempe Crossroads, on Orange Street ranged from $800 to $1,100. The luxury student apartments will run $1,000 to $2,400, according to Tempe City Councilwoman Lauren Kuby…»
Austin, the fast-growing capital of Texas, is pulling in more new workers than any other U.S. city, including people from the Phoenix area. According to a recent LinkedIn workforce report, hiring in Austin was up more than 14 percent in July from the same month a year ago, as its tech-focused economy and extremely low unemployment rate means companies must bring in employees…»
PHOENIX – Sports tourism has become a major player in Arizona’s economy. “The three-year run we had from 2015 through 2017: $1.3 billion dollars in economic impact,” Tom Sadler, president of the Arizona Sports and Tourism Authority, said Tuesday during an industry conference. Sadler was referring to the windfall provided by the Super Bowl in 2015…»