Commercial Real Estate & Business News – October 12, 2020

The Urban Exodus Could Be Temporary
There has been a lot written and said about COVID-19 and teleworking friendly work policies sending urbanites permanently into the suburbs and even rural areas. But migration from cities is nothing new, according to urban planner Christopher Rhie, an associate principal with the Los Angeles…»

$250M Legacy Sports Park Breaks Ground in Mesa
More than 25 years of dreaming and planning and working through setbacks and dead ends were displayed on the face and in the voice of Randy J. Miller, as he took his turn at the podium during a groundbreaking ceremony for his $250 million Legacy Sports Park in Mesa. A visibly choked up Miller could barely…»

Why New Glendale Entertainment District Resort With Lagoon is a ‘Game Changer”
A new resort and water park planned for the Glendale entertainment district can help anchor economic development and keep West Valley residents spending time and money closer to home, city officials and developers said. Officials said Crystal Lagoons Island Resort, scheduled to open in two years…»

Fannie Mae’s Doug Duncan Offers his Predictions for 2021
Doug Duncan doesn’t claim to be an oracle, but the Fannie Mae Senior Vice President and Chief Economist on Thursday offered some forecasts for 2021, even amid a pandemic that has thrown markets into disarray. The country is mired in a recession, and while the CARES Act provided…»

Phoenix City Council Votes to Reopen All Parks, Recreation Amenities
PHOENIX – The Phoenix City Council unanimously voted Wednesday to reopen all of the city’s parks and outdoor amenities after being closed to mitigate the spread of the coronavirus. The city started to reopen all park amenities on Thursday. “Dr. Anthony Fauci says that one of the best things you can do…»