Commercial Real Estate & Business News – June 7, 2016

Downtown is currently experiencing more growth than in its entire history, with $500 million in construction projects and more than $4 billion in total investments since 2008. This year, it ranked 11th on Forbes’ list of fastest-growing cities in America and is projected to be the fourth largest US city by 2020… Read more »
It’s well known that the United States has the largest economy in the world. In reality, however, the U.S. is made up of many much smaller economies, each with unique inputs, advantages and challenges. You see this diversity in the way changing fortunes in one industry can boost or bust an individual state, in the way regions vote in presidential elections and even in the type of home you can get for a in one place versus another… Read more »
Though the May jobs report from the Bureau of Labor Statistics was a disappointment overall (up only 38,000 jobs), one month is only one month, and strong years can have weak months. In any case, the construction industry in most parts of the country is still growing, according to a separate recent report by the Associated General Contractors of America… Read more »
Once one of the nation’s premier shopping malls, Phoenix’s Metrocenter could finally get a much-needed makeover that would double its size and include buildings as tall as 15 stories. The Phoenix City Council unanimously approved a new zoning plan last week for the 130 acres in and around the struggling shopping center. The mall, which is almost 45 years old, is in the middle of a designated blight area near Interstate 17 and Dunlap Road… Read more »
With approval of the amended PAD (which was initially approved in 2013), developer Newland Communities plans to add a new spine road, up to 1,250 homes of four different types, and a new welcome center on a 287-acre portion of the parcels located in a 617-acre area. The development is located east of Cotton Lane and northwest of South Estrella Parkway. The new subdivision, to be called Lucero, will add to the 20,000-acre Estrella community, which was started in 1986 and is already home to more than 12,000 residents… Read more »