Commercial Real Estate & Business News – January 25, 2022

Local officials in Tempe, Ariz., are paving the way for a major mixed-use destination, South Pier at Tempe Town Lake, to take shape in the suburban Phoenix city at a cost of $1.8 billion. The Tempe City Council introduced the project and held the first public hearing on the approximately 3.5 million-square-foot development at a meeting on…»

As construction continues for two light rail extensions in Phoenix, leaders are feeling optimistic about adding more. On Wednesday, Deputy City Manager Mario Paniagua told the city’s transportation subcommittee, the amount of federal funds available over the next five years is nearly double the amount of the previous five years…»

Freddie Mac purchased $70 billion in multifamily loans in 2021, reaching its Federal Housing Finance Agency (FHFA) volume cap for the year. In addition, the government-sponsored enterprise (GSE) made $674 million in low-income housing tax credit equity investments, bringing its total multifamily housing support to $70.7 billion for the year. The GSE financed…»

Inflation tops the list as the biggest economic risk for private real estate investing in 2022, says Origin Investments. Noting that inflation grew at the fastest pace since 1982 over the 12 months that ended November 2021, the Chicago-based fund manager says sustained growth in this metric will affect everything from value-add and ground-up construction to…»

Metro Phoenix homebuyers won’t get a reprieve from rising prices anytime soon as competition for houses heats up again. The Valley’s housing market isn’t expected to be as frenzied as it was in 2021, but prices are on track to keep steadily climbing until probably May, according to real estate analysts. The median home price…»