Daily News 9-21-2026

The Wilf family, the owners of the Minnesota Vikings, plans to build luxury apartments next to Desert Ridge Marketplace in north Phoenix. The Wilfs, through their New Jersey real estate company Garden Communities, plan to develop a 504-unit apartment community on land between Vestar Development Co.’s 1.2 million-square-foot Desert Ridge Marketplace and JW Marriott Phoenix Desert Ridge Resort and Spa. While Garden Communities declined comment on a development…»

After a surge of multifamily construction in the Valley coming out of the pandemic, demand remains strong as the backlog of new units are rented out. Cushman & Wakefield reports that during the first half of 2026, net absorption reached 12,741 units, calling it “the market’s strongest six-month span since at least 2000.” Helping to compress the vacancy rate is a slower pace of deliveries and new construction. Kidder Mathews notes that units under construction fell 35.45% year-over-year…»

A prominent zoning attorney is working to set up about 4,695 acres of state land east of San Tan Valley for an unidentified user. Pinal County’s Planning and Zoning Commission will hear a request at its Sept. 17 meeting to designate that land as a “Special District” under an application from zoning attorney Jordan Rose of Rose Law Group, who told the Business Journal she is representing the Arizona State Land Department. The site is currently zoned for employment and…»

The Arizona economy remains resilient as it navigates evolving conditions, but it is increasingly characterized by mixed labor market conditions and slower growth. The labor market improved from dismal job growth in late-2025, but job gains were concentrated in a few sectors as employers stayed cautious about hiring. Elevated gasoline prices due to conflict in the Middle East caught highly automobile-dependent Arizonans off guard. However, retail sales have continued to grow…»

One of the nation’s largest homebuilders has secured 444 lots near the Taiwan Semiconductor Manufacturing Co.’s $265 billion development in north Phoenix. AGWIP Asset Management, land banker for Miami-based Lennar Corp. (NYSE: LEN), plopped down $60.14 million in cash for the land spanning 132.24 acres near 117th Avenue and the Deer Valley Road alignment on Maricopa County land, according to Tempe-based real estate database Vizzda LLC. Closing on Sept. 15, the seller…»