Commercial Real Estate & Business News – June 19, 2020

Heritage Park, a 531K SF Mixed-use development, Coming to Downtown Gilbert
Not long ago, it would have been difficult to imagine sleepy Downtown Gilbert as home to the retail, restaurant and hospitality options that you find in the area today. As one of the fastest-growing towns in the country, the demand for office, retail, multifamily and hotel space is at an all-time high…»
Master Developer Chosen for 1 Million-square-foot Project in Peoria
A massive mixed-use development with Class A office, hotel, retail and apartment buildings near Peoria Sports Complex is one step closer after the Peoria City Council approved an agreement Tuesday with American Life Inc. and Steinhauer Properties Inc. The project, called Stadium Point, will include…»
Shea Homes Breaks Ground on Prelude at Storyrock in Scottsdale
Shea Homes has broken ground on Prelude at Storyrock, a new single-family home community in northeast Scottsdale. With 51 available homesites across approximately 35 acres of land, Prelude at Storyrock features single-level homes ranging from 2,845 to 3,963 square feet. Five distinct floorplans are…»
‘Housing Construction Has Turned A Corner’: Starts, Permits Rise In Latest Data
New home construction had all but ground to a halt in recent months, as the coronavirus pandemic swept the nation, closing cities and businesses down with it.Fortunately, it appears those days are numbered. According to data released by the Census Bureau this morning, housing starts were up…»
Long-term Mortgage Rates Just Hit an All-time Low
Long-term mortgage rates fell this week as the benchmark 30-year home loan reached a new all-time low. Mortgage buyer Freddie Mac reported Thursday that the average rate on the key 30-year loan declined to 3.13 percent from 3.21 percent last week. It was the lowest level since Freddie began tracking…»