2 hotels coming to former Fiesta Mall, as redevelopment takes shape
Two hotels are slated for Palo District, the former Fiesta Mall site in Mesa, its developers announced. Sunny Day Sports, the district’s developer, made the announcement on March 2 stating it would support the project’s “emerging role” for women’s health and elite athletics. The former Fiesta Mall came under Sunny Day Sports’ management in November after the city council created a theme park district, along Alma School Road and Southern Avenue. That plan…»
What are those towers going up next to Scottsdale Fashion Square?
ZOM Living, a Florida-based developer, is delivering the two-building project — one, named Hazel, directly across from Scottsdale Fashion Square mall and the other, dubbed Azure, alongside the Arizona Canal. When finished, both towers will provide tenants with easy access to Old Town’s vibrant nightlife scene, restaurants and shops. Overall, the development will comprise 532 units and more than 14,610 square feet of commercial and retail..»
Sierra on 66 brings affordable homes to Flagstaff
Flagstaff’s affordable housing options have expanded with the opening of Sierra on 66, a 221‑unit community funded through Low‑Income Housing Tax Credits (LIHTC). The development team said the Route 66 project helps Flagstaff’s “affordable housing emergency.” According to Kevin Sturgeon, lead developer for Roers Companies, Sierra on 66 has been years in the making. “We’ve been working on it for probably four to five years, from when we signed the site up and began…»
Phoenix apartment rents remained flat in February
The average asking rent for Phoenix apartments remained unchanged in February, maintaining the slow-and-steady performance seen over the past few months. Stabilization comes on the heels of back-to-back monthly gains in December and January, resulting in a 0.3% rent increase in the three-month period ending in February 2026. While recent growth is underwhelming for a market that regularly notched monthly gains of 0.3% to 0.5% before the pandemic, it marks…»
Phoenix hotel market likely to remain under pressure all year
Phoenix’s pronounced swings in revenue per available revenue, or RevPAR, over the past two years reflect a market shifting from event-driven distortions into a supply-driven recalibration phase. Volatility in 2024 was largely driven by comparisons to the prior year. The 8.1% RevPAR decline in the first quarter reflected extraordinarily difficult comps against early 2023, when Super Bowl LVII, the WM Phoenix Open and Cactus League Spring Training generated outsized compression..»