Commercial Real Estate & Business News – October 17, 2023

The senior housing market appears set for a steady and ongoing recovery, with occupancy levels in 2024 expected to meet or exceed pre-pandemic levels, provided no unforeseen difficulties occur. That is the conclusion of an analysis of 3Q 2023 data by the National Investment Center for Seniors Housing and Care…»

As community gathering points like new restaurants and an urban park come together in Tempe’s Novus Innovation Corridor, more professional uses and senior housing could be around the corner. Charley Freericks, senior vice president of Catellus Development Corp., which is the master developer…»

Phoenix apartments recorded a 0.6% decrease in average asking rents in September, contributing to a 1.2% decline for the quarter. Though the third-quarter result is on pace with figures recorded during the same period in 2022, it is a noticeable departure from the pre-pandemic trend. From 2015…»

A 120-acre parcel in north Scottsdale is quickly selling out to developers, who plan to build a mix of apartments, condos, offices, a resort and restaurants on the site. The project, called One Scottsdale, has four multifamily developments, a medical office building and a restaurant and retail building under construction…»

A national multifamily developer with just over 6,000 units in its pipeline recently admitted that the company has been able to start work on only one of the projects so far this year. The missed construction starts is not surprising given the interrelated set of obstacles developers are facing, topped by…»