Commercial Real Estate & Business News – February 10, 2016

Arizona saw its share of millionaires climb by almost 5,000, according to Phoenix Marketing International. The Rhineback, New York-based firm recently released its 2015 edition of the Phoenix Global Wealth Monitor, which tracks the well-heeled across the country. Here’s where they live across the state… Read more »
A south Phoenix light-rail line is on the fast track to construction, under a plan to accelerate the city’s long-delayed expansion of the transit system. The roughly 5-mile extension along Central Avenue — from downtown to Baseline Road — likely will be the first to get a major boost from Transportation 2050, the $31.5 billion transportation plan passed by Phoenix voters last summer. Residents started paying a higher sales tax this year to fund bus, street and light-rail improvements through 2050… Read more »
The Town of Gilbert’s Design Review Board will consider a proposal by Embry Partners to create a 320-unit multifamily development at the northwest corner of Santan Village Parkway and Boston Street as part of a greater mixed-use project planned for the area… Read more »
Two firms are opening offices in Phoenix, and will be hiring 850 employees between both firms. Michigan-based Peckham Inc., and Georgia-based HealthPort Technologies are leasing space at the Metro North Corporate Park near Thunderbird Road and 30th Avenue… Read more »
Among states with state income taxes, Arizona has the third lowest rate for high-income earners. Arizona’s top 4.54 percent tax rate kicking in for taxable earnings over $300,000 annually is lower than 46 other states, according to the nonprofit Tax Foundation… Read more »