Daily News 7-24-2026

A North Carolina-based developer with plans for several Valley projects closed on land for a north Phoenix development, an apartment complex in Norterra. Crescent Communities bought the 8.5-acre site near Interstate 17 and Jomax Road for $11.69 million, according to real estate database Vizzda. The site is part of the 600-acre Norterra master-planned development. Construction is expected to begin immediately on the development, called Novel Norterra, a four-story project…»

Driven largely by semiconductor firms going all in on Arizona, the past 12 months were the most successful for economic development in state history. That’s according to the latest fiscal year annual report from the Arizona Commerce Authority, which shows that companies announced plans to invest over $109 billion in new projects and other economic development activity in the state that resulted in some 26,225 projected new jobs created from July 2025 through June of this…»

Institutional owners of single-family rentals have more than doubled the number of homes they are bringing to market since February, a shift that Parcl Labs says offers an early read on how Wall Street is repositioning in response to Washington’s new buying ban. As of this month, 9,447 homes owned by institutional investors are listed for sale, up from 4,166 on Feb. 1, when Parcl Labs launched its full research effort, representing about $3.1 billion in total asking price. “The rate of for-sale…»

Bank lending for commercial real estate is beginning to expand again after two years of tighter credit conditions, but the recovery looks markedly different depending on the type of loan and the size of the lender, according to an analysis of first-quarter 2026 Call Report data by Trepp. Owner-occupied and income-producing CRE loan balances grew both across the banking industry and at the typical institution over the past year. Construction lending was the notable exception: Large banks…»

Willmeng Construction recently began work on GO|99 North, the newest 1 million square foot speculative industrial building in the Valley. For developer GO Industrial, the 1.1 million square foot, Class A warehouse and distribution facility is the largest single building the company has brought to market. Designed by DLR Group, GO|99 North is the firm’s second development along 99th Ave. in SW Phoenix. GO|99 South, a three building, 1.28 million square foot industrial park, was built by…»