122-year-old historic Tempe home to get new life. Here’s what will replace it
A 122-year-old historic home in Tempe is preparing for its next life as an ice cream shop as construction began on the 1.5-acre site where it and a historic church stood for a century. The Hub on Campus Tempe, a 30-story apartment tower, will be built on a 1.5-acre site at Myrtle Avenue and Seventh Street, a site that used to be home to the Harry Walker House, which had operated as the House of Tricks restaurant. The site also includes the First Congregational Church…»
Banner Health pushes forward with $400M Scottsdale hospital plan amid opposition
Despite facing recent opposition to its proposed $400 million hospital, Phoenix-based Banner Health is confident that the project will come to fruition as it heads to the city’s Planning Commission. The Scottsdale Airport Advisory Commission last month voted 5-1 against the proposed medical campus at the southwest corner of Hayden Road and Loop 101 in north Scottsdale, citing its proximity to the Scottsdale Airport runway. The airport commission’s concern is…»
Report: Vacancy rates for office and retail spaces in metro Phoenix are declining
Vacancy rates for office and retail spaces in the Valley were down in the third quarter of this year, while the amount businesses paid for those spaces was up. Those findings and more were revealed in a new report from commercial real estate firm CBRE. Senior Vice President Dave Barrett joined The Show to talk more about the numbers and what they mean. Full conversation: MARK BRODIE: Let’s start with, with retail spaces. You found that the vacancy rate was…»
Phoenix Retail Vacancy Remains at Historic Low Thanks to Strong Tenant Demand
Tenant demand is strong for retail in Phoenix — leading to a surge in rents and low vacancy. The market in the third quarter posted net absorption of +358,329 square feet, according to a report from CBRE. On a gross basis, absorption was 1.5 million square feet, marking the 20th straight quarter that the category exceeded one million square feet. The demand for space helped send the vacancy rate down by a modest 10 basis points from the previous three months…»
With Government Stats Paused, Homebuilder Survey Sends A Positive Economic Signal
The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index rose five points in October to 37, its highest level since April and the biggest month-over-month improvement since January 2024. The index, based on a monthly survey of single-family builders, measures confidence in current and expected sales conditions on a scale of 0 to 100. Readings above 50 indicate that more builders see conditions as good than poor, meaning that…»