Commercial Real Estate & Business News – January 24, 2024

Total commercial and multifamily mortgage borrowing and lending is expected to rise to $576 billion in 2024, a 29% increase from 2023’s estimated total of $444 billion. That’s according to an updated baseline forecast released Tuesday by the Mortgage Bankers Association…»

Multifamily market conditions continued to weaken at the start of the year, according to the National Multifamily Housing Council’s quarterly survey for January. However, financing conditions have started to show signs of improvement. Three of the four indices…»

Tempe’s City Council unanimously approved a deal to revamp Danelle Plaza on Thursday, marking the most significant step to date in the city’s decades long effort to repurpose the deteriorating yet historic 14-acre site. The Plaza sits at the corner of South Mill Avenue…»

After a year filled with battles between residents and developers, it hardly seems likely 2024 can be more dramatic. Then again … The first developer-hosted “neighborhood open house” of the year was as close to a mob as a room full of silver-haired folks sitting…»

Metro Phoenix is in a crisis of affordable housing, and a variety of options will be required to not only provide safe and affordable places to live but also to persuade communities to welcome those developments. That’s according to Alison Cook-Davis, the…»