Daily News 9-16-2026

A massive luxury resort and retail development called Legacy Park can move forward after getting a vote of approval from the Mesa City Council. The council approved annexing the proposed southeast Mesa property, a development agreement, and a sales tax deal to support some of its construction. The vote was unanimous. Once developed, Legacy Park and adjoining retail and hotel project Gateway Crossing will be the largest retail and hospitality development in the Mesa’s history, City…»

Commercial real estate executives heading into the Federal Reserve’s September meeting face a familiar but unwelcome complication: the prospect that interest rates will move higher before the industry has fully adjusted to the current cost of capital. A quarter-point increase now appears likely, after a sharp reversal in economists’ forecasts when new inflation data showed price pressures remained firmer than many expected. The immediate effect of a higher federal funds rate would be…»

Following an ownership and leadership change at the Sanctuary Camelback Mountain Resort & Spa in Paradise Valley, the popular resort is set to get a major renovation in the coming years. The 110-room property, which is located at 700 E. McDonald Drive on 53 acres at the base of Camelback Mountain, announced on Monday it would start a multiyear, multiphase renovation plan that will touch every room, starting in the summer of 2027. Some of the plans include interior refreshes and…»

More U.S. construction companies are landing contracts to build data centers, expanding backlogs across the industry even as activity slows in other construction work. A survey released Tuesday from the Associated Builders and Contractors noted that one in six of the trade group’s members is under contract to build a data center. It’s the highest proportion the group has ever recorded. Members reported having an eight-and-a-half-month backlog in August, up from only eight months…»

The Phoenix economy entered the second half of 2026 with a complicated mix of signals: a shrinking labor force and rising unemployment contrasted with modest payroll growth, resilient consumer spending and a housing market that continued to gain momentum, according to the Economic and Business Research Center (EBRC). Data for the Phoenix-Mesa-Chandler MSA, which includes Maricopa and Pinal counties, show the region’s civilian labor force fell 3.1% year over year to.…»