Commercial Real Estate & Business News – November 20, 2024

Inflation in metro Phoenix continues to rise at a slower pace than inflation nationally, with prices here up 1.6% over the past 12 months through October. That figure, reported by the Bureau of Labor Statistics, compares with a 2.6% U.S. inflation rate, also for the 12 months through…»

PHOENIX — The federal government has finalized its investments in a technology company creating a massive chip-making operation in Phoenix that officials say will bring well-paying jobs for decades to come. The Taiwan Semiconductor Manufacturing Company (TSMC) is poised…»

Procter & Gamble Co. is moving forward with infrastructure work for its future manufacturing campus in Arizona, but it has yet to announce a construction start date. The consumer goods giant (NYSE: PG) is planning to build a $500 million plant for its fabric care brands including…»

Demolition of Metrocenter mall has begun, giving way to newly announced plans for the urban village that will replace it. The big picture: Developers and city officials on Monday revealed their vision for “The Metropolitan,” as well as a retail center to be called “The Loop.” Shortly after…»

Even with the median sales price climbing 3.6% to $475,000, the housing affordability index for Metro Phoenix rose 6.1% from 66 to 70 in October. This means that the median income reached 70% of the amount needed to afford the median home. “The lower interest rates make it financially…»