Here are the news articles you might find interesting today for commercial real estate and business:
Resmark, Greystone To Build 370-Unit Apt Project Resmark Apartment Living, in joint venture with Greystar, announced plans for a 370-residence apartment development on just under 14 acres in the Desert Ridge master-planned community in Phoenix. Construction is expected to begin in September. The project on the northeast corner of Deer Valley Drive and 56th Street will include 10 buildings ranging from two to four stories tied together with outdoor gathering spaces and amenities. View article…
Grayhawk seeks to make room for resort Grayhawk Development is seeking city approval of a plan to realign its golf course to make room for a resort northwest of Pima Road and Thompson Peak Parkway. The proposal would move holes 15 and 16 on the Raptor Course away from Pima Road and an office complex to accommodate a resort that was part of the original master plan. The proposed site in that plan is west of Pima Road. The change would move it closer to the intersection. View article…
AKO Engineering to open a solar office in Chandler Arizona is becoming a home away from home for Spanish companies in the solar business, and the latest example is AKO Engineering Inc. The company announced on Monday it planned to open an office in Chandler that will specialize in solar work. The office, to be in the Mammoth Equities Building along the Price Road Corridor, eventually will be home to about 15 employees. View article…
Changing Hands puts off plans for new Phoenix bookstore Plans for a new Changing Hands Bookstore in central Phoenix are on hold, but aren’t dead. Tempe-based Changing Hands has been looking at locating a second store at the former Beef Eaters restaurant property at Camelback Road and 3rd Avenue. The 17,900-square-foot Beef Eaters restaurant has been closed since 2006. View article…
Intel to announce new Chandler facility Intel Corp. plans to build a new research and development facility on the eastern side of its campus at Chandler Boulevard and Rural Road, in Chandler, the company said Monday. The company would not release further details about the project, saying that it will un-veil them this morning at a 10a.m. news conference in Chandler. View article…
Arizona adds 58,000 jobs in past year Arizona added 58,000 jobs between June of 2011 and the same month this year, and was one of the top-performing states in the nation. New research from On Numbers shows Arizona ranked No. 7 among states in terms of raw job gains. The state ranked No. 5 in terms of percentage gains — growing jobs by 2.42 percent. View article…
Fitch: Mods Bring Down CMBS Delinquency Rate in July An increase in loan modifications led to fewer delinquencies for commercial mortgage-backed securities (CMBS) in July, according to Fitch Ratings. The decrease in CMBS delinquencies is the second consecutive month of declines as CMBS delinquencies fell to 8.48 percent in July, a drop of 14 basis points (bps) from June’s 8.62 percent. View article…
HOUSING:
Phoenix, AZ – Freshest New Home Closings Decline Year-Over-Year in May After Rising Year-Over-Year in April The Phoenix, AZ market saw a drop in new home closings year-over-year in May, a move downward following a lift in April 2012. Closings slumped 10.5% from a year earlier to 495. This followed a 24.8% climb year-over-year in April. A total of 8,789 new homes were sold during the 12 months that ended in May, down from 8,847 for the year that ended in April. View article…
NAR: Home Price Increase Has Downsides as Inventory Dwindles Limited inventory may be boosting home prices, but buyer choices are stifled in an increasing number of markets, the National Association of Realtors (NAR) reported Thursday. View article…
Arizona and California Delinquency Rates Improve Most in Q2: Report Along with second quarter decreases for the national mortgage delinquency rate came significant improvements for hard-hit states California and Arizona, according to a TransUnion report. View article…
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